HSBC (merged threads)

Smasher

josephuk07 wrote: »

I really can't afford to pay the charges this month so my account will go OD again and i'll have more charges

That is exactly what these charges are designed to do..:mad:
I was in the same position years ago, they wouldn't provide an overdraft, but they would allow an unauthorised overdraft so that they could clobber you with charges upon charges.

Unfortunately, your choices are:
a) to either pay them, then reclaim them.
b) open an account with another bank & have your income paid into that & tell HSBC to get stuffed. If you choose this route, they will continue adding charges and possibly put bad data on your credit file & send the "debt" to a collection agency. However they would be stupid to pursue it to court & if they did, you can defend & counterclaim for the charges, plus damages and have them rectify your credit file.

Sadly, that is the situation that the FSA has left you in with their ridiculous waiver.

sonya_j

hello all i have just signed up with this site, i have a problem i downloaded the letters regarding claiming my bank charges back followed the procedure and they now have told me i have got to wait as hsbc are going to court and i have to wait on the results can you help me ,that was 4 months ago. thanks sonyaj

claireynot

i just need some help with regard to wat to do with my bank..im new to money saving expert so if my question has already been asked ...sorry lol.
anyway im with hsbc and lately i have been gettin charged about £150 a month in charges..this month i have £100 and i get charged for being charged as it takes me over drawn..anyway i rang up bank and they kinda said im talkin to the wrong department so i asked can i have a £100 overdraft and they said.........no ....because of my credit rating so its alright for them to charge me all this money but i cant have a overdraft for less than their charges..wht do i do..i know banks r in court about chargin so i know i wont get charges back until verdict...wat should i do!!!!im on benefits so my money im meant to live on dont even touch my wallet

Smasher

Firstly, get another account with another bank to get your money paid into so that it is safeguarded from charges.

You will then need to reclaim charges HSBC have applied so far & whatever they continue to apply in the meantime. Normally I would never recommend going through the FOS, but courts are ignoring cases of financial hardship so you will stand a better chance of getting the existing charges repaid & any subsequent charges waived in one go by going through the FOS. It will take time though & the FOS are a pain in the neck to deal with, but you will get there in the end..

claireynot

ok whats the fos and how do i go about it..many thanks

Smasher

Financial Ombudsman Service.
http://www.financial-ombudsman.org.uk/faq/bank-charges.html

The have said that they will not deal with complaints about bank charges whilst the waiver is in place, but if you write or call them & explain that you are in financial hardship and the charges are spiraling, they might take it on. This has been the case for some, but not many, and it is possible that they too will ignore you.
Otherwise, your only hope is to reclaim through a court, then wait for the subsequent charges to mount up & be sent to a debt collectors at which piont you dispute them.

natweststaffmember

sonya, the OFT test case of which HSBC was a defendant are awaiting the judgement in the case, although some estimates that the final final judgement could take as long as 3 years with appeals. I hope that answers the question you had.

sonya_j

hello and thank you but does that mean i have to wait or is there anything i can do to make them pay me sonya

robpw2

yes sadly in the words of a very famous advert join our club .

sonya_j

hello and thankyou for replying regarding my bank charges , but is there anything i can do to make them pay me now or have i got to wait,
just one thing that gets me mad[ do you know 3 times hsbc charged me £100 for being less than £10 over drawn cheeky gits ive been with them 29 years] just makes me mad haha sorry just blowing off a bit of steam thanks once again sonya