HSBC Graduate Overdraft - no longer interest-free!

rednaxela_76

A friend of mine pointed out the letter of 'apology' from HSBC's Head of Customer Communication (wonder if he gets his bonus this year?) states:

Your current overdraft facility was due to expire in July. It will now not expire for another 4 months i. e. November. We will..... bla bla bla

Notice how two crucial little words INTEREST FREE were conveniently omitted?! This basically means that alot of us will be receiving debit interest letters from HSBC and interest charges on our September or latest on our October statements.

Lets face it... we don't have a real choice in the matter other than to take it a little gentler up the a@@ from a different bank and hope that karma will one day bite back.

Samsun_3

I received a letter this morning saying I will soon be charge £4.00 Debit interest on my graduate account (even though I'm still a student until September but thats another story!). The woman on the phone has said if I go into my branch with proof I am still a student they will refund the charge. She also said that in the first year of my graduate account I will have a £1500 interest free overdraft (I'm currently nearly £2000 deep hence the charge).

Is this true as from what I've heard HSBC don't do interest free grad accounts anymore?? I'm confused!

mjoyeux

They changed mine too, when I complained they said they had changed their terms and conditions! !!!!!!!?

So I've changed my terms and conditions and moved bank accounts... ;-)

scottishlass

Well HSBC you have failed to yet acknowledge my complaint within 5 days again for the fourth time running and each time you act shocked that someone has not followed procedure!!!! Am not a happy bunny...HSBC are a complete joke but I dont want to give up just yet....Crabman have you had a response yet?

Crabman

scottishlass wrote: »

Well HSBC you have failed to yet acknowledge my complaint within 5 days again for the fourth time running and each time you act shocked that someone has not followed procedure!!!! Am not a happy bunny...HSBC are a complete joke but I dont want to give up just yet....Crabman have you had a response yet?

Since post #97 I've only received another letter saying they are 'investigating' :rolleyes:

scottishlass

Just though I'd let people know after several phone calls I have finally had a letter offering me an extension on my graduate account and a refund of any fees incurred...

maniac886

scottishlass wrote: »

Just though I'd let people know after several phone calls I have finally had a letter offering me an extension on my graduate account and a refund of any fees incurred...

When did you graduate and how long have they extended the overdraft for?

Hope you don't mind me asking as HSBC have only told me that they will be reviewing my account in November.

Cheers

scottishlass

Graduated July 06 Extension is only until December at the moment at an interest free portion of £500

Crabman

I've also received a letter as scottishlass describes - refunded debit interest of £1.50 but confirmed interest-free element as £1000 out of the available £1500.

maniac886 - we graduated at the same time so I'm not sure why they're treating you differently. At the end of the letter is a number for their 'service quality team': 0800 88 11 55.

maniac886

Crabman wrote: »

I've also received a letter as scottishlass describes - refunded debit interest of £1.50 but confirmed interest-free element as £1000 out of the available £1500.

maniac886 - we graduated at the same time so I'm not sure why they're treating you differently. At the end of the letter is a number for their 'service quality team': 0800 88 11 55.

Hi Crabman,

I am in the same situation as you. I have a £1500 OD limit and £1000 of that is interest free. I am just unsure of what will happen in Nov though, that is what I need clarifying.

I have rung them on several occasions but no one can give me an answer!