Hsbc no overdraft?

Erintims30

Please can someone help me. I have been with hsbc for 15 years I have no overdraft yet I can take money out all the time even if it isn't there!! I then get changed up to 80 a month! I have challenged this with the ombudsmen of hsbc twice and been told nothing can change or be done about this. I could cry I am a single working mum my wages are useless so on the 19th of each month to have huge charges is a struggle. If I have no money and it's letting me take 20 out for food in going to take it. Or should decline and say insufficient funds but it never does it let s me take money please can someone help me so I can get these charges gone or have all my charges paid back to me

eskbanker

Erintims30 wrote: »

If I have no money and it's letting me take 20 out for food in going to take it. Or should decline and say insufficient funds but it never does it let s me take money

It's not safe to rely on your bank declining transactions for you in the way you seem to want, you need to keep on top of how much you have and how much you spend rather than relying on them to do it.

Having said that, there are some accounts that offer a control facility (for a fee) to do this but it's not something that most do. Alternatively, ask them for an online debit card, i.e. one which will usually check that you have funds available, as most cards are offline ones that allow low-value transactions to be processed without getting real-time authorisation from your bank.

EachPenny

Erintims30 wrote: »

If I have no money and it's letting me take 20 out for food in going to take it. Or should decline and say insufficient funds but it never does it let s me take money please can someone help me so I can get these charges gone or have all my charges paid back to me

Try to only use cash machines that also allow balance enquiries (most do). Check your balance before trying to withdraw cash. If the balance is lower than the amount you want to withdraw then take out less, or nothing at all. If you just ask the machine for cash it will give it to you if the transaction is authorised, the machine owner is not concerned whether this takes you overdrawn.

It sounds like the charges are paying are high because you don't have an arranged overdraft. You might want to think about having an arranged overdraft, but the risk is you'll then live permanantly in overdraft and be incurring fees for exceeding the overdraft limit.

PeacefulWaters

Please can someone help me. I have been with hsbc for 15 years I have no overdraft yet I can take money out all the time even if it isn't there!

The solution is not to take out money unless it is there.

binaryuniverse

First of all it's worth contesting the charges on the basis of financial hardship, and that the constant cycle of charges keep causing difficulties for you.

However, you can not blame the banks for you not paying attention to how much money you have available. You need to take control of this and map out a strategy of how and why you keep ending up like this. £0 is not your target amount to have leftover each month.

No, it's not easy to do when you have mouths to feed, and a small income. But it's tiny things you need to refuse in your everyday, so that you have more than £0 when it comes to payday. Can you walk to places, instead of getting a bus (bonus benefit of being active)? Can you make food in batches, and reheat, which will cost less. Are there daily micro-transactions you really don't need to make, which mount up?

A statement of affairs on the Debt Free Wannabe bored may be a good place to start. They can help you cut out the stuff you don't need in your life, and start building up an emergency cash reserve.

Chrysalis

you need to check your balance before taking money out.