HSBC Pref regular saver - overpaid by accident

irvin38aa

So I move £250/mth into my preferred regular saver which I opened a month ago. I didn’t realise they automatically set up a standing order so have paid it twice this month.

Anyone know what effect that will have as the limit is £250/mth

If I withdraw the second £250 will that mean I lose the 5%?

By overpaying for the month will I now pay a penalty?

Wheres_My_Cashback

irvin38aa wrote: »

So I move £250/mth into my preferred regular saver which I opened a month ago. I didn’t realise they automatically set up a standing order so have paid it twice this month.

Anyone know what effect that will have as the limit is £250/mth

If I withdraw the second £250 will that mean I lose the 5%?

By overpaying for the month will I now pay a penalty?

If the excess is removed on the same banking day as it's been deposited it definitely will not affect the account.

If it's not ring the bank and ask them as only they know the answer.

irvin38aa

Wheres_My_Cashback wrote: »

If the excess is removed on the same banking day as it's been deposited it definitely will not affect the account.

If it's not ring the bank and ask them as only they know the answer.

Yes, both payments were made today.

badger09

irvin38aa wrote: »

Yes, both payments were made today.

Move £250 back out now. It won't then show in end of day balance so should be ok, though from memory of similar posts, all they do is bounce any excess back again.

If in doubt, call them.

irvin38aa

Thanks for the replies. I called them and they moved it back. Couldn’t do it online as not allowed to withdraw.

george4064

I had a near identical situation with my HSBC regular saver, you can see my thread here: https://forums.moneysavingexpert.com/discussion/6016315/standing-order-to-hsbc-regular-saver

irvin38aa

george4064 wrote: »

I had a near identical situation with my HSBC regular saver, you can see my thread here: https://forums.moneysavingexpert.com/discussion/6016315/standing-order-to-hsbc-regular-saver

:rotfl: Just read through it. Fortunately it only took 2 minutes to sort on the phone when I got home from work. (Actually on the phone for about 10 mins though as I couldn’t remember my telephone banking pin!!)