HSBC overdraft charge

ldavies_3

lol

I think in my case its just something that I believe to be right. We have to be aware of the t & c of all contracts that we sign up to whether that be a bank account or using any service really. Its usually never an issue until we hit an obstacle and what wasnt important when signed up ultimately becomes the be all and end all when something goes wrong.

travellingaussie

ldavies wrote: »

I understand that but hey, unless we keep in all under the bed......in a shoe box maybe.... :rolleyes:

All the fees are advertised.. we wouldnt ask for a discount on food at the checkout of a supermarket.. well I wouldnt anyway lol

Why not! What you don't put in their pocket stays in your own - plenty of cultures and countries barter. You can get hundreds of things if you stand up and give it a go! As for the fees the bank were trying to charge me - they were because i apparently went over my overdraft once before in the last 6 month period - i never did, they actually stuffed up my accounts earlier in the year - so while they are looking into it the charge doesn't seem to be appearing on my account anymore and i kept all the emails from their previous stuffup so wouldn't have a problem proving that! End of the day i will still change banks just for them trying it on.

Jen151

Good luck travellingaussie hope you find a better bank. Did you try ringing up and getting the charge taken off? If it was the first time you went over your limit, they'll probably remove the charge if you call up and ask.

Poosmate

Travellingaussie, I am somewhat confused about your £25 charge. Is it because you went overdrawn by £70 for 2 days in March or is it for the reason Lucypeach started this thread - an overdraft (OD) approval charge?

If it's the overdraft approval charge then did you get charged for exceeding your OD limit? If you haven't been charged for exceeding your OD limit then I wouldn't be shouting too loud because they would be well within their rights to charge you for that.

Lucypeach, can I ask if you have in the past 12 months exceeded your OD limit? I am wondering if they are only trying to put these charges onto accounts that have exceeded their OD limit (even if only a small amount for a short time) because they have a tiny bit of justification for it?

I have 2 HSBC current accounts, both with OD's and I'm almost 100% sure I haven't exceeded my OD limit in the last 12 months and I haven't had a letter. Just wondering.

Thanks

poo

Inactive

I have had a Midland / HSBC account for over 20 years, never been charged a penny for the service.

I also have a bank account in Spain, now they really do know how to charge, and all Spanish Banks are the same, they don't charge for overdrafts simply because they don't allow them, they just bounce any payments that are not funded.

Which can result in essential services being cut off, like telephone, electricity etc.:eek:

Scousebird_2

Inactive wrote: »

I have had a Midland / HSBC account for over 20 years, never been charged a penny for the service.

I also have a bank account in Spain, now they really do know how to charge, and all Spanish Banks are the same, they don't charge for overdrafts simply because they don't allow them, they just bounce any payments that are not funded.

Which can result in essential services being cut off, like telephone, electricity etc.:eek:

I think sometimes the British Banking System is looked at as an entitlement. Some people believe it is their given right to have an overdraft and they should have it renewed every year for free-overdrafts are designed to be a short term borrowing facility-meant to be for less than 12 months and see it from the other side-once a year, the bank are reviewing your account movement to establish affordability and discouragement from living in an overdraft as it was never designed to be a revolving credit facility that is indefinate. I have had my HSBC overdraft for a few years and never been charged for it up until recently when I wanted to extend it permenently-they told me about the £25 arrangement fee beforehand-I needed the money and I took it. I was fully aware of the charge for the service and I agreed to it so I have no rights to claim the fee back as I wanted the service. Yes it's a pain but nothing is free in this world so I just accept it, and if anything, it discourages me from applying for extensions regularly. And will stop panics in the credit crisis where everyone is scrambling to extend thinking that the credit will run out.

Inactive

Agreed..;)

ldavies_3

yup, me to im afraid