HSBC overdraft changes

rjd203

I've today received a letter from my HSBC branch which tells me my current overdraft is to be stopped at the end of September but if I do nothing they will arrange for a new overdraft on exactly the same terms to be set up to continue from this time BUT at a cost of £25.00.

Effectively it's HSBC trying to raise more money by charging £25 for keeping the exact same service!

Thankfully I am leaving them as they have no idea in relation to service or offering but thought it might be worth people keeping an eye open if this is a regular practice as you won't notice any change to your service but will get hit by a £25 bill.

knithappens

i got a letter too, saying they would continue my over draft with no charge but at a higher rate of interest fro Sept 07 until Sept 08.

Just the kick up my backside i need to stop overspending and going into my overdraft.

cocalls

ive just got the same letter saying they're going to charge me 25 quid and when i took it out as a student i was told that the interest free will be reduced gradually when i graduate-i graduated in july but they've put it up to 9.9% grrrrr

unome

Got the same letter today

Had my account over 13yrs and after ringing them to complain about this and not getting anyware will be closing my account and moveing to a&L

Tabby_Kitten_2

lilmrsmullen wrote: »

i got a letter too, saying they would continue my over draft with no charge but at a higher rate of interest fro Sept 07 until Sept 08.

Just the kick up my backside i need to stop overspending and going into my overdraft.

I haven't had this letter but sound like it might be going out to lots of people, so will keep an eye out.
Finally got round to finding out what the overdraft interest rate on my current account is 18.8%, and the incredit rate is only 0.10%.