HSBC (merged threads)

HSBCOddball

sweetersong wrote: »

I am an ex employee of HSBC and although I have no sympathy with those who delibrately go overdrawn, I know the most of this type of forum aren't those people. Therefore, if anyone needs any general advice about how best to get things done with HSBC, then let me know.

I appreciate that but HSBC are charging amounts now that make it almost impossible to make an inroads into paying off the debit. I've cut my spending down to the absolute minimum, took on a second job and so on but when the money I've generated as a result is just being swallowed up by more charges. I've explained this to them but they were unwilling to help.

Unfortunately they've brought this on themselves.

BAILIFFCHASER

Regardless of what the banks say. You need to issue legal proceedings so that when the case for charges is resolved then you get paid.

saul1664

I have an overdraft of 1,500 GBP, which I have gone over a few times. Apparently this comes under the remit of HSBC arranged overdraft, for which fees are charged. This month I have been charged £91, have had a previous £65, and a £31 charge in the space of four months.

The nearest thing I have had to communication is a letter saying that my arranged overdraft (for when I went over my limit) has been approved. None of these charges have ever been explained, nor are they split up, a figure appears that they just take at the end of the month.

Are they entitled to do this, is this part of the charges remit, and can be claimed back - how do I claim back charges they don't tell me what they are for. There was some gumpf on their website about changing conditions, including if you have the temerity to ask for repeated overdraft requests and they turn you down they can charge you for asking?

Saul

saul1664

saul1664 wrote: »

I have an overdraft of 1,500 GBP, which I have gone over a few times. Apparently this comes under the remit of HSBC arranged overdraft, for which fees are charged. This month I have been charged £91, have had a previous £65, and a £31 charge in the space of four months.

The nearest thing I have had to communication is a letter saying that my arranged overdraft (for when I went over my limit) has been approved. None of these charges have ever been explained, nor are they split up, a figure appears that they just take at the end of the month.

Are they entitled to do this, is this part of the charges remit, and can be claimed back - how do I claim back charges they don't tell me what they are for. There was some gumpf on their website about changing conditions, including if you have the temerity to ask for repeated overdraft requests and they turn you down they can charge you for asking?

Saul

Hmmmm. Just spoken to them, apparently any going over your overdraft limit even by 1p incurs £25 automatically. Whilst on the phone, they a) refused to refund a 50p card transaction which wasn't made by me as it was below the amount they can refund b) tried to sell me a loan c) tried to get me to sign up for a £12.95 a month bank account that puts me further in debt. Ethical bank?

Bill_Owen

I've exceeded my £500 limit by approx £100 - and they gave charged me £150 plus interest.
That means I don't have any chance of getting it down before the next accounting period as I've got to now find the excess plus the £150 so they are charging me another £150.
I rang up and all they wanted to do is sell me a loan to cover the overdraft amount.:mad:

stubbsini

I received a similar letter after I went over my arranged overdraft limit. They have reviewed my current arranged overdraft, which they tell me will come to an end at the end of this month. Then they are going to set up a new overdraft FOR EXACTLY THE SAME AMOUNT and charge me £25 for the privilege.

This is because I unwittingly used the wrong bank card when making a purchase and went over my formal overdraft limit by £10. I noticed the next day and made a transfer immediately.

This is classed as an informal overdraft (you didn't ask before exceeding their current overdraft limit).

Because this happened in the last 6 months (the 6 months before the review), they are telling me it will cost £25 to 'arrange' my new overdraft (for the same amount...).

The overdraft 'period' is 13 months at which point, there will be another review.

They state that 'will only charge fees for agreeing formal or informal Ocverdrafts, where they occur more than once in any six months charging period.' - in other words:

If you change your formal overdraft (asking them) or informal overdraft (go overdrawn without asking them to up your overdraft limit) more than once in any six month charging period, it'll cost you down the line.

So, on this basis, I make it that you are only allowed to arrange a formal overdraft change or accidentally exceed your overdraft limit in the 7th month of the 13 month period (any time before that is within the first 6 months of the last review = £25; any time after month 7 is within 6 months of the next review period =£25!)

It is a very crafty way of getting around the infamous illegal charges we have heard so much about.

I'll certainly be trying to head them off at the pass - I'll either pay off my overdraft in full or just close my account and move banks if they don't waive the fee.

sambohacking

hi

im looking into sending my letter of reclaiming to my bank hsbc, do i have to move banks, if so what about the credit card i have with them and loan i have with them

what happens there, will they shut my bank account down or can i stay with them, how many people out there claimed with hsbc and won money back, what was the outcome with there accont

thanks
sam

shelly0_13

Well after slaving over statements and the pc for most of today I have finally put together the following reclaim charges letters....

HSBC Joint account since Dec 02. £6971.25 charges+ £1418.50 int = a whopping £8389.75!!!
HSBC Sole account since Dec 06 £125.00 charges + £9.92 int = £134.92
HSBC Sole account since Dec 06 £300.00 charges + £14.94 int = £314.94
Abbey Joint account since July 03 £690.00 charges + £206.90 int = £896.90

It's unbelievable when you actually sit down and work it out how much they charge you!!!

HSBC yesterday bounced a payment on me although I paid cash into the account at 09.42 to cover the DDR and the branch staff told me it would be paid. So I contacted them online after learning they had charged yet another £25.00 for the pleasure of pressing a button to bounce away my money. The head of credit services replied saying that I was lucky as they charge less than most other banks and if the amount was smaller than my £33.69 they would have charged £10.00 or waivered the fee!!!! If they can do that WHY do they not charge £10.00 all the time or not charge full stop.
I have printed a copy of this message as proof of smaller charges in case I do end up taking them to court.

sambohacking

anyone please help

bathgatebuyer

Well done for getting your head down and getting the letters together. About this time last year, I did my first reclaim with the Halifax and I was incredibly intimidated, but a friend of a friend was about week ahead of me in terms of timescales. He got his repayments a week before I did! It was as stress-free a Xmas I could have hoped for.

To help with your claim, also have a look on the consumer action grup website for some additional advice on their HSBC dedicated board.