HSBC Bank charge - any advice

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Going to Cali

Going to Cali

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I have an overdraft facility of £1750.

On Mar 28th I exceeded the balance and was only made aware when trying to withdraw funds on the 24th April.

I checked my account today and find HSBC plan to charge £150 in fees and 23.37 in interest for this period.

During this time I was not informed either by phone or mail or exceeding the limit. I have an account (e-ISA) with more than sufficient funds to clear the full debt on the current account.

I have phoned HSBC to ask for them to remove the charge, explaining If I had been made aware of the limit being exceeded I would have taken immediate action to correct by transferring funds.

As a gesture of good will they have waived £25 in charges but will still charge £125 + interest.

Is there anything I can do to reclaim these charges?

Oh, and of course better managing my finances. :(
 
I didnt think they were allowed to charge that sort of money any more?

I would call them and say that if they charged you the £125 + VAT you would move banks

edit:
Seeing as your in debt that wouldnt work sorry :/
 
I'd say you agreed to the charges when you took out the overdraft, and it's your responsibility to manage your finances in such a manner that you don't exceed your limit. It's not their job to baby you, sadly.
 
Why should they call you?

Imagine, with all the millions of customers banks have, how much time it would take to call every customer who exceeded their limit? Not possible.

It's up to you to manage your money and you agreed to the terms and conditions of the account.

If you are not happy then log a complaint.
 
I understand it's not the bank's responsibility to inform me I had exceeded my limit, what disappoints me is that my accounts with HSBC were by some margin in credit. Guess this is an expensive lesson!
 
What i dont understand is why banks dont have a "hard limit" where if you dont have the funds it should say NO to anyone trying to get them, be it a direct debit or other standing order payment.

But they let it through, dont tell you and charge you moronic amounts for the fun of it.

Good thing i have a 3k Student overdraft and 2k in the bank, I have been stung much the same before though
 
As above I think...

You will more than likely be liable to any charges of the overdraft, it's not the banks fault you went overdrawn after all.

Some banks DO supply a reminder service if you get close to your limit, but I believe you have to sign up to it.
 
This has happened to me numerous times. I have since requested that they block the facility that allows me to withdraw funds past my limit. They say that it is my responsibility to check my balance, but i argued that i do check my balance but sometimes they (hsbc) are so slow at processing transactions and showing the balance that it is difficult to know the true balance. They refused to accept this and charge £25 for every transaction over my overdraft even if it is £10. I think they have since blocked this facility because recently i tried to withdraw money when it was on nil and it refused the transaction.

You just have to learn your lesson and pay them, they obviously do this often and make a lot of money doing it.

Best thing to do if you think you might go over the limit is to withdraw a large amount because you then only get hit with one charge. So withdraw £100 if you are tight on money instead of 4 small withdraws.
 
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Delvis said:
As above I think...

You will more than likely be liable to any charges of the overdraft, it's not the banks fault you went overdrawn after all.

Some banks DO supply a reminder service if you get close to your limit, but I believe you have to sign up to it.
Click to expand...

natwest has a texting service that would inform me of any problem payments that may cause me to become very close to my limit.

if you sort this issue before 2pm the following day they remove any charges.
 
Peedee said:
What i dont understand is why banks dont have a "hard limit" where if you dont have the funds it should say NO to anyone trying to get them, be it a direct debit or other standing order payment.

But they let it through, dont tell you and charge you moronic amounts for the fun of it.

Good thing i have a 3k Student overdraft and 2k in the bank, I have been stung much the same before though
Click to expand...

Some banks do. In fact I am with HSBC and a couple of months ago a DD was declined for lack of funds (1 day before payday lol). Cheeky gits charged me £20 for the privilege of not lending me money!
 
Is it just me that checks their balance more than once a month? I could imagine them letting you off with say a few days if you hadn't noticed, but a month is a different story.
 
BDEE said:
Why should they call you?

Imagine, with all the millions of customers banks have, how much time it would take to call every customer who exceeded their limit? Not possible.

It's up to you to manage your money and you agreed to the terms and conditions of the account.

If you are not happy then log a complaint.
Click to expand...

Lloyds do it. If you go over by a penny they contact you. I've had them contact me twice for the same week before.
 
How can you be over £1,750 past what you think is in your bank account for a whole month? I'm assuming you don't have a constant overdraft and money in an ISA...
 
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