hsbc charging for over drafts

atticboy30

I've just received a letter from hsbc asking for £25 for the use of an over draft even when I'm in credit and because I'm likely in the next few months to go into it - because my wage will remain fixed and the cost of living is rising quickly. they will also charge interest on the amount that the over draft is as well - this is totally unfair in my view, especially as i've been with them for over 27 years. i switched from nat west then becuase they were a bad bank! this website recommends Alliance and Leicester but i know someone that's had a terrible time with them loosing account numbers and charging for non existent accounts. help! i want to change and claim back all my charges now - i'd held off because hsbc had been good to me till now. i'm incensed that they are asking me for £25 a month for the use of a none free overdraft facility, the robbing b*******s

Aegis

atticboy30 wrote: »

I've just received a letter from hsbc asking for £25 for the use of an over draft even when I'm in credit and because I'm likely in the next few months to go into it - because my wage will remain fixed and the cost of living is rising quickly. they will also charge interest on the amount that the over draft is as well - this is totally unfair in my view, especially as i've been with them for over 27 years. i switched from nat west then becuase they were a bad bank! this website recommends Alliance and Leicester but i know someone that's had a terrible time with them loosing account numbers and charging for non existent accounts. help! i want to change and claim back all my charges now - i'd held off because hsbc had been good to me till now. i'm incensed that they are asking me for £25 a month for the use of a none free overdraft facility, the robbing b*******s

That doesn't sound right... I've certainly not seen anyone being offered an overdraft facility with a monthly charge at my branch, put it that way.

Are you sure this is what they're saying, and not that it would be a £25 charge each time you go in to your unauthorised overdraft?

atticboy30

i'm pretty sure it is as it says in the letter. there's a sort of contract to sign about it

james_herman

I had a £250 overdraft just over a year ago but was in real dire straits so I asked HSBC to up it to £500. For the generous offer of paying them more money towards interest, they charged me a £25 arrangement fee. I agreed as I was under the impression that this was arranged for the duration of my account or until I was able to settle for a lesser overdraft again.
But, no! It seems this overdraft facility undergoes an annual revision. I should be congratulated for having my £500 overdraft extended for another year. Yippee! But what's this? I've been charged another £25 arrangement fee. Am I right to claim these back as well?
Please reply.

Tozer

Arrangement fees are different. It is the unauthorised overdraft fees which are the subject of claims.

Schlank

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Was wondering if anyone could help. I am not too sure about this is my charges seems comparatively small compared to those on other threads. <o:p></o:p>
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I have an HSBC graduate account with an overdraft limit of £1500. I recently went £48 over this when my rent was taken out of my account. I was overdrawn fro 2 days until I was paid. <o:p></o:p>
For this I received a £25 arrangement charge. I have also been notified of £48 fee which I will have to pay at the end of the month. On HSBCs website they say that they can extend my overdraft for a fee of £25 but will charge interest over £1500. However my account still shows a £1500 limit. <o:p></o:p>
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It seems like I have been charged the admin for going over my limit but I don’t want and certainly haven’t ARRANGED, an overdraft extension. I also think that £48 is ridiculous. I went £48 over and am being charged £73. I am worried that if I go over again, I will face another £25 plus interest. I thought I would get a £12 charge or something not £73.<o:p></o:p>
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Has anyone else had this situation? Am I able to claim this back? I am hesitant to sent of a letter as my costs are relatively small. I have just fought a long legal battle with a letting agent and am not prepared to take this to court. I will pay cost if I have to but if there is an easy way to get this back then that would help very much.<o:p></o:p>
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Thanks in advance<o:p></o:p>
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Gareth<o:p></o:p>

ZellowZed

Hi James,

I had this charge applied to my overdraft for the first time in some 10 odd years of having it.
£25 to arrange for something I already had.
I was told it was a review charge to continue with the overdraft.

I rang HSBC quite a few times to get that and some other charges refunded. On the third call I managed to get this refunded. I simply told them that they didn't inform me of the charge, I didn't agree to the review and that I was cancelling my account. They then said they would refund it to me as an apology.

Kick up a fuss and keep ringing them! Thats my advice.
They did however tell me that they would be charging me £25 in 2009. I said thats fine as I'm closing the account. Only £230 more to clear and I can close it.

HSBC have treated me appallingly as such they will never get any of my business again.

Schlank

Zellow

Good for you I am glad that you got your money back. I too will be closing my HSBC account as soon as I have cleared my overdraft as they have treated me so badly too.

Of all words to use for these charges I think "arrangement" isn't exactly appropriate.

James

Yes try and claim back, if it worked for zellow. you didnt agree to that. good luck

Jonny0000

Just to back this up i have had a similar letter in the past saying until i pay an overdraft off a monthly charge will be applied calculated in % of outstanding balance over the OD limit. Could this be the case here being mistaken as a pre-defined monthly charge?

james_herman

Thanks lads Good advice Actually I also have been toying with the idea of ridding my life of HSBC. :beer:

Beata_2

Hi all

I've just had a letter from my bank (hsbc) who (off their own back) have carried out an annual review of my overdraft - and are charging me £25 for the privilege! What's more, this is a charge I will have to pay every year as they carry out their annual review - apparently this is something that hsbc are now doing to every customer that has an overdraft.

I'm not willing to pay this - any advice greatly appreciated!