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I got my statement through the post yesterday from my bank and it appears that I went £22.50 into the red in my bill account last month, which unfortunately does not have an overdraft facility, HSBC charge £25.00 per account for this, however I only have one on omy current account. The reason being is that normally I am well within the funds but something came out a bit earlier which messed it up a bit. HSBC have decided that they are now charging me £22.00 for this mishap. What are the forums thoughts. I think it is wrong.
yes it is wrong and HSBC are a shower of *&^&$*$*£&&£ers hence why we moved to lovely barclays
You borrowed their money without permission and now they want to charge you the amount stated in your contract with them.
Where is the problem?
get on to the manager
tell them if they don't refund the charge you'll shut your account and never use them ever again.
I'd rather be charged the 25.00 from those HSBC bankers than the 300 that those absolute twunts from Barclays tried to charge me for being 18.00GBP overdrawn.
Or, to put it another way, there wasn't enough money in your account to pay one of your bills but they paid it anyway. They're charging you for essentially doing you a favour.
It's your responsibility to have enough money in your account, not theirs. Can you tell I used to work in a bank branch?
How long were you overdrawn for? To be honest, if you ring them up and explain nicely what happened, and it's never happened before, they may well refund the charge anyway.
Have you tried calling them to see if they'll waive the charge?
If you have multiple accounts with hsbc and one has a balance about to go negative but the other is positive they move the money over to cover the debt hence not costing you anything, well they have for me in the past.
I find them pretty good to deal with all in all.
No bank doesn't have overdraft fees that I know of.
I'd rather be charged the 25.00 from those HSBC bankers than the 300 that those absolute twunts from Barclays tried to charge me for being 18.00GBP overdrawn.
I had enough of the sacks of sh1t at Barclays too and moved to Nationwide. They seem to be much better customer service wise.
Tried to charge me for 're arranging' my overdraft, doing nothing as it stayed at same level, was told this happens every 13 months or something, closed the account 😀
Have you tried calling them to see if they'll waive the charge?
That. Had a similar charge from Nationwide once, phoned up, they gave me the money back. Don't threaten to leave, just point out that you are normally in credit and ask for a refund.
I'm with Barclays and despise them if I'm honest. I only opened an account with them as they had a branch on camp which suited me at the time. I'd like to go across to First Direct but they never seem to approve my application, heathens!
My current favourite is Natwest charging me for returning a unpaid direct debit despite an international transfer of 4000+GBP arriving in to the account the same day but 'because of the time difference' it was processed after they processed the DD and thus charged me for it. The fact the International transfer should have been processed some days before is apparently beside the point. Apparently I should go in to a branch to discuss it, well ****heads im in Australia so I guess you won that round.
NATWEST take note, there is a reason I have paid off my overdraft - don't expect to be seeing any more of my money any time soon...
Contact them and be polite and reasoned. IMO they've done nothing wrong at all though.
[i]Don't threaten to leave, just point out that you are normally in credit and ask for a refund. [/i]
This.
Speaking as someone who was for a while the one on the other end of the phone, the amount of help that I was willing to give a customer was generally proportional to the niceness of their approach.
They're all the same..
HSBC made a similar charge for me being a couple of quid overdrawn. The day they applied the charge it sent me overdrawn again so they applied another £25 sting.
All the while had 10K in my savings account. They refused to refund. Knobbers/robbers!
If i go overdrawn with Smile Co-op I get a message telling me that I've gone over and that theres a charge of £25. But they continue... as its very rare for me to go overdrawn they'll wave the fee on this occasion.
Thats very nice them, I'd like to think I do go over very rarely - but I've had that message and discretional waiver uhhhm more than once 🙂
Perhaps you should manage your money a bit better and stop blaming others for your own cock up.
How much do you pay for your free banking service btw?
It was a day, a payment came out of my account the day before my money transferred from my current account to the bill account. Therefore I had nearly £1.5k in my current account. Ive had this before and they weren't prepared to listen. They charge me £25/year on the current to continually reassess (as mentioned above) which annoys the hell out of me.
Stuey01 - In the 10 years i've had the bill account it is the first time it's gone into the red, so cock up, go do one.
Free banking - I'm sure HSBC just let it sit there and are not investing it, trading etc etc...
It might help, but I had a similar situation, where our joint current account had gone slightly overdrawn, which I corrected the next day, but HSBC were going to charge their standard charges. We have multiple products through HSBC and when I explained what had happened they cancelled the charges, which I was pleased about.
Interestingly they can set an alert up that texts you if an account balance drops below a level that you set. Since setting it up we have received a text from them when the balance dropped below our limit, enabling us to transfer some additional money into the account.
I phoned nationwide as i went 2.50 overdrawn on an account i rarely use but my work cc is linked to it
The dd came out on the 28th - 25 quid fee thats fair enough .... I noticed this issue on the 1st
Next month i got a 25 quid fee again despite not going over drawn again.
Chancers
Anyway phoned them and asked for the second 25 to be returmed. They said i can have both back no problem and i got it back no bother 🙂
actually thinking back (wavy lines) I used to bank with Clydesdale and had all my DDs set to go out in the same week. I had a paid for over draft facility with them.
Over a period of a week or so they withdrew the facililty - bounced all those DDs (most re-submitted so got bounced more than once) and accrued so many charges and fees that pretty much a whole months salary had vanished (but with non of my bills actually being paid) - then they re-stated my overdraft - leaving me fully overdrawn but with all my costs for the month still to be met.
Those fees were pretty much duplicated as late payment and admin charges from the payees too.
A complete train wreck conjured out of thin air.
It was a 9 month wrangle to get those fees repaid from the bank and to close the account and leave, repayments were intermittent and peicemeal and they obstructed and bodged everything closing my account and transferring my account to another bank. I took redundancy during that time so was able to spend several weeks pursuing them all day so it could have taken longer. In the process the branch manager was sacked. Never got compensated for the costs from the payees though.
so... think on young man!
I recall there being a law that states any charges made to service overdrafts should be fair. You could write to them and explain that the charge does not seem fair and ask them to waive it. It has worked for me in the past.
If they do not agree then let them know you will go to the Ombudsman regarding your claim.
Obviously all dependent on how much time you're willing to put into the matter. Written comms works better than electronic messages I have found. Bit less convenient, but miles better than clinging onto the phone speaking to customer service.
Everyone else, banks usually process incoming funds after outgoing. I thought this was common knowledge? There's definitely a clause in your Ts&Cs telling you to not make transactions you don't have cleared funds for. Perhaps you should switch accounts if this is not agreeable? Another person here is talking about having a sweep facility. If the bank do this for you then you probably have a fee paying account, are a customer they'd really like to keep or have one of the older style accounts where they did this for you automatically. I'd like to know whom you bank with!
In the 10 years i've had the bill account it is the first time it's gone into the red
Ive had this before and they weren't prepared to listen.
So which is it?
Free banking - I'm sure HSBC just let it sit there and are not investing it, trading etc etc...
Of course they are, which is why you don't pay for your basic banking services, unlike in many other countries. If you paid an account fee, and I'm sure they have several "added value accounts" then you would have an overdraft facility and wouldn't have gotten charged.
You want your cake and eat it too.
HSBC charge you £25 not just for going over your overdraft limit but for every day you actively use the account whilst it's over.
I found this out when something large came out that I didn't expect and I carried on oblivious. Next month, my bank charges were £175. Less than impressed.
In the distant past when this has happened, I've rung them up and they've waived it without me even trying to argue. This time, they concessionally knocked £25 off it. Woo.
OK, some interesting and very helpful advice. I know the error was mine, although HSBC have made it somewhat more difficult to access account due to the requirement of the electronic pin card. Although I guess that is for security purposes so not a bad thing. I just feel the charge is unfair and will write a letter stating some of what has been said above.
Just phone them up and they should remove it, and while you are it arrange a small overdraft in case it may happen again.
[i]I know the error was mine, although HSBC have made it somewhat more difficult to access account due to the requirement of the electronic pin card. Although I guess that is for security purposes.[/i]
Doh 🙄
Stuey01 - Member
In the 10 years i've had the bill account it is the first time it's gone into the red
Ive had this before and they weren't prepared to listen.
So which is it?
Stuey - See 'bill account' with no overdraft and 'current account' with overdraft which I pay for.
Of course they are, which is why you don't pay for your basic banking services, unlike in many other countries. If you paid an account fee, and I'm sure they have several "added value accounts" then you would have an overdraft facility and wouldn't have gotten charged.
You want your cake and eat it too.
Are you a banker or just a w*nker?
Are you a banker or just a w*nker?
LOL, a poet.
Here's a haiku:
standard bank bashing
did not arrange overdraft
boohoo, so unfair
Have you tried calling them to see if they'll waive the charge?
I've done this successfully with HSBC.
HSBC charges are ridiculous. Always a joy when they take the money when you're overdrawn, so you go further overdrawn and they charge interest on it! And their little security device for internet banking is a piece of crap.
So I changed to Nationwide.