Will I be charged an overdraft fee ?

Nationwide8

I don't have an agreed overdraft..on one of my accounts a SO went out on the wrong day ( my fault) and put me into debit.I spotted it about a hour after and put enough money in to cover it and a planned SO for that amount appeared as a credit later in the day and also negated the debit.

So do you get charged an overdraft fee if you are in debit for even a minute ? Or if one SO goes out earlier on the same day than one comes in to cover it do you get charged for the debit because of the gap in time ?

AndyBSG

All depends on who you bank with.

Recently several of the big banks have changed their OD fee's so that if you pay the money back in on the same day you don't get charged but without knowing who you bank with or what type of account it is it's not a question I could answer.

noh

You will be ok.
You are only charged a fee if you are overdrawn at close of business on the day.

Nationwide8

It's an ordinary Current account with HSBC,nothing special...if it is by close of business on the same day should be OK ?

Kim_13

No charge if it was rectified by the end of the day. Different banks have different cut offs and I haven't seen what HSBC's is, but assuming this was today before you posted, then it will be. No bank would set their cut off before 1pm.

http://www.hsbc.co.uk/1/PA_esf-ca-app-content/content/pws/content/personal/pdfs/general-price-list.pdf

fromtheshires

HSBC used to be 1500 / 1530 (its been a long time since I worked for them but it was either one of them) many moons ago so unless they have changed it, it will be the same time still

Nationwide8

This was on the 1st of the month and I can't remember the exact time it went into debit...I would guess the morning and it went into credit in the morning I guess as well.

Do not have a HSBC nearby I can go into and ask although have asked at a Barclays and they say as long as in credit at close of business on the same day ie midnight it's OK