HSBC Graduate account only lasts for 2 years?

jaxkesa

Today I got a letter from HSBC saying 'As it has now been a few years since your graduation, we just wanted to make sure you are aware that we will be converting your HSBC Graduate Account to an HSBC Bank Account on 19th July 2008.'

I only graduated 2 years ago...They don't say '2 years' or '3 years', just 'a few years'. So this doesn't seem right. I've had a look on the HSBC site but can't find anything about the graduate account changing to a bank account after 2 years. You can even apply for a graduate account up to 3 years after graduating.

Are they trying to rip me off? I can't lose my overdraft now as I'm up to the limit already.

aimex

i too got the same letter - i was surprised as i thought the overdraft would just reduce again this year and not finish altogether with one months notice! eek! x

lil'H

I've had the same letter. I rang the number on the letter, and they told me there was no record of the letter having been sent out from anywhere, but lots of people had been calling saying they'd recieved letters. They recommended going into branch to sort it, but it seems clear they are just trying to make easy money in the credit crunch.

Personally i'm going to the local branches of all the other banks to sort out changing to another bank! Not impressed by the way HSBC has treated customers, giving us barely any notice.

lil'H

jaxkesa

Well I might change to RBS or something. I can still apply for a graduate account with them. Only thing is, I have the graduate loan with HSBC so will have to see if I can transfer that too.

ed666

Same thing happened to me......

Although I happened to receive my "annual account review" about a week prior to receiving the standard letter regarding my account being converted to a standard account and the overdraft removed.

In my annual review it stated my overdraft was agreed to continue until July 2009! This despite me graduating 2 years ago.

HSBC have no record of the mass mailed letter what so ever and with both their branches and call centres seeming completely incompetent!

Which letter do I believe? One of their call centre people advised me to just ignore the mass mailed letter!!!

scottishlass

I'm glad i'm not the only one....just spoke to a friend who graduated the previous year and shes yet to receive one of these letters but has had her account for three years where as I've only had my graduate one for 2.

Not a happy bunny but at least I no longer have an excuse not to move banks.

melancholly

HSBC have a very bad history for mucking about graduates - last year they tried to remove the graduate accoutn altogether. i would advise all students to get a student account with a different bank!

Idiophreak

jaxkesa wrote: »

Only thing is, I have the graduate loan with HSBC so will have to see if I can transfer that too.

Annoying, isn't it...I never really thought of transfering my graduate loan, so stuck with them for the 2 year term. Finished last month though, so time to jump ship methinks. Never dealt with such a bunch of idiots as HSBC...

jaxkesa

I sent HSBC a message about this using the Message system on Internet Banking.

Here's the reply I got:

Whilst I do acknowledge your comments regarding this matter, I regret to inform that I am unable to assist you further via this e-messaging system with regards to this matter.

In this instance, please call in to your account holding branch with the relevant supporting documents where my colleagues will be able to assist you further.

I trust this clarifies matters.

Yours sincerely

Emma Boardman
Senior Manager
HSBC Bank plc

Not very helpful, especially as my account holding branch is on my old uni campus and closed down 3 years ago, turning into just a cash machine.

I'm off to apply to Lloyds TSB for a graduate account now.

HelenYorkshire

I too received both letters - review said overdraft limit staying as it is (bear in mind the interest free "chunk" can / has changed) and only skimmed through the "we've changed your account type" letter.

Unless I missed something, it too confirmed that my overdraft limit was still the same?

CLAPTON

jaxkesa wrote: »

I sent HSBC a message about this using the Message system on Internet Banking.

Here's the reply I got:



Not very helpful, especially as my account holding branch is on my old uni campus and closed down 3 years ago, turning into just a cash machine.

I'm off to apply to Lloyds TSB for a graduate account now.

I've no actually experience of LloydsTSB but there has been comment on the boards about their unautorised OD charges .. basically between £6 and £20 per day (max of 10 days per month) plus £15 fee.
worth reading if you're ever likely to stray.