HSBC Graduate Overdraft - no longer interest-free!

jaxkesa

jimbow25 wrote: »

Unfortunately I can't find the correspondence from when my account changed to a graduate account so I don't know if this is what they promised back then or not. Did anyone else move to a graduate account in 2006? Do they know whether this is right?

I graduated in 2006. I'm sure it was sold as a 3 year account, otherwise I would have just gone with RBS or something. I can't even find anything on the website now that says it's 2 years or 3 years. They seem to be purposely vague about the whole thing.

amuircroft

I have logged my complaint. I went in and they said there is nothing they can do and it wont be much anyway only makybe £5 a month - I just laughed at her. She didnt get the point so I logged complaint there and then and told her the ombudsman is involved already which she didnt like one bit. we have to show them we arent happy, so I urge everyone who is affected to complain.

meinnit

I am going into my 3rd year of graduation and expecting to receive £500 interest free overdraft for another year. Last summer I was told it would end but then they decided to scrap that decision and now I receive a letter in June telling me that it's ending on 19th July! I have contacted telephone banking and been in to my branch but there is nothing that they can do. I have emailled a letter of complaint and am waiting for a reply. Will post back more details as I get them. I'm not happy that its not clear what is going on and also the fact that they withdrew the interest free period when I had signed up to 3 years inititally.

Martin your help is needed!

Crabman

Contact the FOS and complain to them (they'll then write to HSBC on your behalf).

The Banking Code states you have 60 days to transfer your account from the day of notification of change in terms, penalty free.

meinnit

Crabman wrote: »

Contact the FOS and complain to them (they'll then write to HSBC on your behalf).

The Banking Code states you have 60 days to transfer your account from the day of notification of change in terms, penalty free.

As far as I'm aware you have to complain to HSBC first and if you're not happy with the resolution you can then take it up with the FOS.

Crabman

meinnit wrote: »

As far as I'm aware you have to complain to HSBC first and if you're not happy with the resolution you can then take it up with the FOS.

That's right but you can now speak with the FOS who will note the complaint and send it to HSBC on your behalf.

They'll only become involved again if, as you say, you're not happy with their response/resolution.

andrewseward

They sent all my "we're screwing you over" letters to my old address, even though I've had statements to my current address! Very frustrating, I'm going to go into the branch and complain.

I applied for an Alliance and Leicester account and they accepted my application immediately, I suggest you all do the same.

My question is, WHERE'S THE PRESS COVERAGE??? :mad:

vicshippers

andrewseward wrote: »

They sent all my "we're screwing you over" letters to my old address, even though I've had statements to my current address! Very frustrating, I'm going to go into the branch and complain.
:mad:

I had just the same thing - so I made sure that part of my official complaint was that they had sent letters to an old address. A month later I had an incidence of card fraud, even though I checked my address over the phone they still sent my card AND pin to my old address.

To say I was fuming was an understatement :mad:

Lady_K

Is this certain that there will be no interest free overdraft for new graduates?

And for existing holders of this account originally signing up with the 3 year offer is that the case for them also?

maniac886

Lady_K wrote: »

Is this certain that there will be no interest free overdraft for new graduates?

And for existing holders of this account originally signing up with the 3 year offer is that the case for them also?

Its all very confusing at the moment..people being told different things on the phone and in the branch.

Hopefully the more people that complain and the more coverage this issue gets HSBC may release a statement to confirm what the hell is going on!

I have a meeting at my local branch in a few weeks to see whats happening on as I only graduated last year.