Whilst that is ridiculous the fact is you shouldn't have gone overdrawn, by 1p or 1,000,000p. If the banks say to you on paper that they'll charge you £X for going overdrawn by ANY amount and you sign it and do so then to be honest you get what you deserve. Although I do agee that there should be strict regulation on how much they can charge as that sounds ridiculous.
HSBC - steer clear.
- Thread starter 86JR
- Start date
Man of Honour
- Joined
- 31 Jan 2004
- Posts
- 16,338
- Location
- Plymouth
The problem here is that he has (probably) withdrawn money before the money he put in cleared, OR the bank lowered his overdraft without telling him (well - perhaps they sent a letter - but they have to give XX days notice usually iirc?)
As others have said, it's your own fault. You took the money out before it actually cleared, the bank didn't touch your overdraft. Calm down, stop blaming the bank then go and ask your branch nicely if they'll refund the charges since it should be obvious it was a mistake.
Soldato
- Joined
- 5 Aug 2003
- Posts
- 8,540
- Location
- Essex
It's good to have a buffer, you'd be in the same boat if you didn't have an overdraft and went a penny over.
Indeed, you can still go overdrawn without an authorised overdraft but you will be hit with charges for doing so.
Soldato
- Joined
- 15 Aug 2007
- Posts
- 15,788
- Location
- Outside in the bushes
This is why I told them I don't want no overdraft! I can spend my own money well enough I can just imagine how badly in debt i could get with an overdraft!
I manage my money and dont go over.
im guessing its was a cheque he paid in ? or maybe hes been deep in his overdraft for ages and was just paying money in to trick them into thinking hes got money going in... i had to do this with my student overdraft after they got funny about nothing ever going in
Is it only Nationwide that credit deposits to the time they were deposited then? 
With nationwide you should be able to deposit a cheque for say £120 and then almost immediately take out the £120 again without waiting for it to clear... Or am I missing something.
With nationwide you should be able to deposit a cheque for say £120 and then almost immediately take out the £120 again without waiting for it to clear... Or am I missing something.
There's no problem with having an overdraft. In fact it is generally a good thing to have one agreed just incase an unexpected withdrawl comes out, or a payment takes longer to clear than usual.
There is absolutely no downside to having one agreed.
The problem comes when people live on the edge of their agreed overdraft, and then end up past that limit.
I've found HSBC to be both good and bad.
If you've got plenty of money available, they're great. If you haven't, they're not.
I was on the receiving end of their not greatness while on a business trip. I was expending a large amount of money out of my account for business expenses and basically ran out of my own money or credit. What had happened was two items had created large (read: several thousand dollars) pending transactions out of my debit account, some three weeks before they were actually due, and I hadn't factored this in to my cash flow.
I begged HSBC to extend my credit for the period of a month to cover the expenses, offered to provide any evidence they wished of the fact that these were reimbursable business expenses, but they wouldn't hear it. I kept escalating it to the next level of management yet they still refused.
The result was I had to ask the company I work for to sort the money. Which they did.
It's a shame, as I quite like HSBC's services otherwise. I do not want to bank with them but feel there's probably not much better out there.
If you've got plenty of money available, they're great. If you haven't, they're not.
I was on the receiving end of their not greatness while on a business trip. I was expending a large amount of money out of my account for business expenses and basically ran out of my own money or credit. What had happened was two items had created large (read: several thousand dollars) pending transactions out of my debit account, some three weeks before they were actually due, and I hadn't factored this in to my cash flow.
I begged HSBC to extend my credit for the period of a month to cover the expenses, offered to provide any evidence they wished of the fact that these were reimbursable business expenses, but they wouldn't hear it. I kept escalating it to the next level of management yet they still refused.
The result was I had to ask the company I work for to sort the money. Which they did.
It's a shame, as I quite like HSBC's services otherwise. I do not want to bank with them but feel there's probably not much better out there.
Soldato
- Joined
- 11 Oct 2008
- Posts
- 3,833
- Location
- London
HSBC and Abbey got chucked last year.
HSBC stuffed up delivering a new CC about 4 times.
I had to wrestle with Abbey to get MY money out of their accounts.
Lloyds and First Direct now. Much love.
HSBC stuffed up delivering a new CC about 4 times.
I had to wrestle with Abbey to get MY money out of their accounts.
Lloyds and First Direct now. Much love.
Caporegime
- Joined
- 18 Oct 2002
- Posts
- 33,188
You know First Direct are owned and run by, HSBC right?
As for delivering CC cards, well, personally I think you'd find your local postie to blame, or at least someone at the local office, CC's/bank info is a big target for information stealing.
Delivering something I'd attribute to, delivery people, Halifax, I actually forget, I think I applied for a debit card from them about 4 times, because I had a account with them opened for me as a very young child and mid teens wanted a debit card, I went in to fill paperwork out several times and they managed to not acknowledge I'd ever been into the branch to do so, despite physically going in to do it. They didn't screw up delivery, they screwed up the paperwork. I don't blame halifax as a whole, I blame a moron at that one branch.
HSBC are great.
Check your statement and a one of £25 charge is about as cheap as you will find.
Also if you go over you have 24hours to put money in before they charge you. Which has been very useful on the odd occasion.
Learn how to bank before slagging them of.
Check your statement and a one of £25 charge is about as cheap as you will find.
Also if you go over you have 24hours to put money in before they charge you. Which has been very useful on the odd occasion.
Learn how to bank before slagging them of.
Associate
- Joined
- 6 Jul 2007
- Posts
- 655
- Location
- Leeds / Newcastle Uni
Adding my 2cents of hsbc is awesome, clearly the best bank, especially for students.
in your case the money clearly hadnt cleared and if you had clicked show account information you would have seen available to withdraw £1, although i am surprised a cash machine let you take the money out. usually they only agree informal overdrafts for purchases made rather than cash.
Cos of the way i transfer money between various accounts all the time i've had many informal overdrafts from them, just make sure you pay it off the same day, and i've changed my overdraft limit up and down god knows how many times to enable me to get more interest on money elsewhere etc.
Their branch facilities are excellent aswell, i can do everything i need without ever speaking to a person or queueing, theres a machine for everything. brilliant.
in your case the money clearly hadnt cleared and if you had clicked show account information you would have seen available to withdraw £1, although i am surprised a cash machine let you take the money out. usually they only agree informal overdrafts for purchases made rather than cash.
Cos of the way i transfer money between various accounts all the time i've had many informal overdrafts from them, just make sure you pay it off the same day, and i've changed my overdraft limit up and down god knows how many times to enable me to get more interest on money elsewhere etc.
Their branch facilities are excellent aswell, i can do everything i need without ever speaking to a person or queueing, theres a machine for everything. brilliant.