HSBC - steer clear.

Wicksta said:
Did the bank sign a contract saying you could when you opened the account?
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I don't recall signing a contract saying that they could charge me fees that bear no relation to the work carried out. I'm talking more of our consumer rights, rather than an implied or contractual right.
 
Apopcalyptic said:
I don't recall signing a contract saying that they could charge me fees that bear no relation to the work carried out. I'm talking more of our consumer rights, rather than an implied or contractual right.
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Consumer rights.... bah. A contract, is a contract, is a contract. (imho).

Relation to the work is immaterial. What about parking fines? Surely it should be cost of parking + wage for guy to write ticket. But no......
 
Completely the OP's fault, tbh. However, if I was you I'd ring up, explain what you did, and see what they say. Usually bank's are fairly willing to refund charges when you haven't got prior.
 
twoblacklines said:
What a retarded bank.

My balance was -£699.00 exactly. my OD limit is £700.

I paid in £120.

I checked balance, which was -£579.00 and then took out the £120.00.

Today, 3 weeks later, i have a letter saying "We have agreed your informal overdraft of £819, but have charged you £25 a week for it".

So when I took the money out they reduced my formal overdraft (without telling me) and then charged me for using an informal one, whereas my balance should have just gone back to 699.00OD.

utter ****

so now im going to have to pay that off sooner than I thought, as they have been charging OD interest on the £25 charges. Bear in mind they have not sent any advancement of these charges, they just did it, without even telling me i was over the overdraft limit.

AVOID.
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Lesson, avoid overdrafts.
 
Everyone keeps saying avoid overdrafts, if you can manage your money, then you don't need one.

Surely if you can manage your money, having an overdraft is perfectly fine and a useful buffer, like people who own credit cards that they do not use unless for emergencies?

I had a dentist visit last week, budgeting £50 for the whole spiel, but it turns out that I need to have a root canal done, and to get it done that day would cost £250. I was in pain, and it wouldn't have gone away if I waited until payday, so I used my overdraft to cover it for now.

Pretty useful imo.
 
I strongly believe banks just rip you off left right and centre anyway.

Ever looked at your statement? Stuff is always in the wrong order. Regardless of when its cleared.
My GF's parents, got charged because the day all the bills and there wages came out, they put in there wages last. Therefore, instant cash for yorkshire bank...
 
Nobody ever talks about the co-operative bank, any reasons why?

I have been with them for years now and never had a problem, I went overdrawn by a few pounds once and they just said, thanks for letting us know, pay it back when you can.

Before that though I was with natwest who charged me a fortune because a direct debit tried to come out early and bounced, By the time they sent me a letter it was at £370 overdrawn, So that is on hold until this court case is sorted.
 
unknownsock said:
I strongly believe banks just rip you off left right and centre anyway.

Ever looked at your statement? Stuff is always in the wrong order. Regardless of when its cleared.
My GF's parents, got charged because the day all the bills and there wages came out, they put in there wages last. Therefore, instant cash for yorkshire bank...
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Erm, transactions clearing in the same day are not affected by the order they clear.

I could be £100 overdrawn for most of the day, but as long as that is covered by a credit before the banking day ends, I won't be charged.
 
As others have said, I've found HSBC to be a great bank, I got charged overdraft fees on an account I shouldn't have been able to go overdrawn on, they refunded no problem.

You also need to remember that these and other similar charges (eg payments taking a while to clear and you don't get the interest) are how we are able to have a free banking system.
 
been with them for 10 years and they've been great. Even increased my OD to £2700 which is odd seeing as i don't use my OD ><
 
Hi, i have this OD its interest free, I have no loans other than SLC and I have no credit cards at all :)

I paid the money into my bank FOUR weeks ago! and the cheque out was a week later. How can it take longer to clear, it was done via internet banking from another account. If I was at fault i would have not made the thread, i have checked all my statement, it seems £120 just disappeared.
 
scott212 said:
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.
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Why shouldnt I go overdrawn, i have a £700 interest free agreed OD ?
 
MagicBoy said:
I've been with them for years. Never had a problem.

Now Natwest.....
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I've been with Natwest for over 5 years and they've always been excellent.
currently my account's overdrawn by £1100 (out of a £1200 student overdraft) and they're fine with it.
 
twoblacklines said:
What a retarded bank.

My balance was -£699.00 exactly. my OD limit is £700.

I paid in £120.

I checked balance, which was -£579.00 and then took out the £120.00.

Today, 3 weeks later, i have a letter saying "We have agreed your informal overdraft of £819, but have charged you £25 a week for it".

So when I took the money out they reduced my formal overdraft (without telling me) and then charged me for using an informal one, whereas my balance should have just gone back to 699.00OD.

utter ****

so now im going to have to pay that off sooner than I thought, as they have been charging OD interest on the £25 charges. Bear in mind they have not sent any advancement of these charges, they just did it, without even telling me i was over the overdraft limit.

AVOID.
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eh?

how have they reduced your overdraft - you said it was £700 - if your balance was -£699 and you then try to draw on funds which haven't cleared yet then of course you'll go overdrawn - if their T&C's say they charge £25 for going over your overdraft limit then whats the problem?
 
Why dont people listen ? I paid the £120 via internet banking THREE weeks before i took it out again by cheque.

Even the slowest internet banking doesnt take longer than a week, with CHAPS taking 3 days ?
 
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