HSBC being autocratic

mgsrus

I recently made a 'tart' balance transfer and having my mind somewhere else at the time gave my HSBC card details instead of my Halifax card details [divorce can do this to you!], this put my HSBC account into credit. No worries I thought as I will simply draw the balance out during my current extended trip to Thailand. I made several drawings and was charged a cash withdrawal fee. My account was in credit but I was still charged the fee, however some time later I received a letter from HSBC [no previous contact and the letter arrived about a month after the date on the letter] stating that I have breached their terms and conditions by going into credit and therefore they have reversed the transfer; it is now some 30 working days later and the funds have not been received in the account it was transfered from. They did not contact me directly and have apparently sent the funds to somewhere other than my account; or paranoia may suggest they haven't sent them at all! My HSBC account now shows that I have been charged the cash withdrawal fee [no big problem] but they have also retrospectively applied cash withdrawal interest to the monies I withdrew in good faith prior to the reversal; thinking I was in credit. The reversal of balance transfer they made was in fact in excess [by some £200] of the amount I originally transfered; this being due to me rounding up an early monthly statement payment. Naturally I am not at all happy but are they within their rights? Other than the minor administrative error of 'misplacing' my £4700!

jonesMUFCforever

You will be charged for withdrawing cash from a credit card (other than Egg money) whether it is in credit or debit.
Interest applies from date of withdrawal until repayment.

Your card's T&C will state whether they accept payments that puts your card into credit or not. Most won't.

As this was your fault you won't get a penny in compensation or refund of charges from HSBC.

You do need to find out from them the card number that they 'refunded' the money to and you should chase them up on this ASAP.