Less than 24 hours overdrawn? HSBC

Vet

Hi there,

I have a SO from my TSB current acc to my HSBC current acc. The HSBC acc requires £1750/month to be paid in (in order to get access to the linked savers acc (£250/month at 5%). In order to do this I have set up at SO from my TSB acc to pay £2k to HSBC on the 1st of every month. On the 2nd of every month my HSBC acc should transfer back £1750.

However, on 2 separate occasions this year due to weekends/bank holidays my TSB has transferred on the same day as my HSBC acc - resulting in my HSBC acc balance (for a very short period of time [hours]) being set at around -£1500. Although I haven't received a charge for being overdrawn - should I expect to, at some point, given the fact that the SO's are set on different days to try and prevent negative balances?

I can't find much information online RE paying back overdrawn current acc HSBC immediately.

Thank you!

deadendwaterfall

I always thought HSBC charged you for going overdrawn even just by a few pence and for a few minutes.

mije1983

It seems that as long as you come out of the overdraft the same day, you will be ok

We won't charge you any daily unarranged overdraft usage fees if:
®® you pay in money before the end of the day;

https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/accounts/making-sense-of-overdrafts.pdf

Vet

mije1983 wrote: »

It seems that as long as you come out of the overdraft the same day, you will be ok







https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/accounts/making-sense-of-overdrafts.pdf

Champion!! Thank you.

StokieBecks

Ideally you should have a gap of at least four days between the direct debits to avoid this occurance.