marzman Posted July 21, 2008 Share Posted July 21, 2008 Right, I've just checked my bank balance online, and i've just been charged £200 by HSBC!! Having had back surgery a couple of months ago i've had to give up my 2nd job, so i knew i was gonna be struggling until the end of July (when my circumstances change - office moves, stop paying crazy insurance prices, annual bonus etc etc). I knew i'd be going over my overdraft this month but i've never been charged before... so i was £160 over, and now im £360 over. I googled it, and someone said you get charged £25 for each transaction whilst overdrawn - so i've been buying my lunch on my card @ £3 a go, and they've charged me £25 for each occasion. Oh My God. Im livid Quote Link to comment Share on other sites More sharing options...
IanS16 Posted July 21, 2008 Share Posted July 21, 2008 Barclays used to be £30 or £35 but since this bank charges dispute they have dropped charges to £10. £200 is extortionate!! Quote Link to comment Share on other sites More sharing options...
Trev-the-Rev Posted July 21, 2008 Share Posted July 21, 2008 I'm with Lloyds TSB and for a £10 a month standing charge, I get a free £500 per month overdraft limit. Quote Link to comment Share on other sites More sharing options...
Stew Posted July 21, 2008 Share Posted July 21, 2008 I'm with HSBC. Never had a problem and never had any charges. Never been in my overdraft but I think I might have a free 1000 or 1500. Quote Link to comment Share on other sites More sharing options...
marzman Posted July 21, 2008 Author Share Posted July 21, 2008 Okay, phoned them up and im slightly less irate... of the £200, £75 was 'in error', but £125 still remains. They charge you £25 a day, on days where you withdraw more than £20. So because i paid for petrol on 3 separate days, and 2 bills went out on another 2 separate days, they have charged me 5 times. I asked if, god forbid, i knew i was going to be overdrawn again that if i go and withdraw £500 cash on one day, i'd only get charged £25 once - and she said yeh - you can get round it that way! Unbelievable..! Quote Link to comment Share on other sites More sharing options...
Stew Posted July 21, 2008 Share Posted July 21, 2008 Call back and explain it was an error and now you know you will be more careful. Ask if the bank will work with you to resolve it. Ask if they can reduce the charge and ask for a free overdraft. If HSBC don't give you it then another bank will. They are usually quite good. Quote Link to comment Share on other sites More sharing options...
martinmac Posted July 21, 2008 Share Posted July 21, 2008 I am with Stew, give them a call back and explain the circumstances, would be very suprised if they didnt credit some or all back. Quote Link to comment Share on other sites More sharing options...
Stew Posted July 21, 2008 Share Posted July 21, 2008 Banking is quite cut throat just now, It's VERY simple to move banks and they all want your business. I have always been very impressed with HSBC on the whole. Quote Link to comment Share on other sites More sharing options...
Sarnie Posted July 21, 2008 Share Posted July 21, 2008 This is called an informal overdraft. They no longer decline your card but take the transaction request as your request for an extension of your overdraft limit and charge you £25 per transaction irrespective of the transaction value. It will be in the change to their T&C's they sent out months ago. If you were to go to a HSBC cash point to withdraw money it would say that they are going to charge you £25 for it; do you want to proceed? Yes or no. The problem arises with debit card transactions as you don't get this warning. I'm with HSBC too Quote Link to comment Share on other sites More sharing options...
marzman Posted July 21, 2008 Author Share Posted July 21, 2008 Cheers Sarnie - thts pretty much verbatim what the HSBC girl said to me on the phone. Last year they were very quick to phone me when i went a tenner overdrawn after going on holiday, but this time there was no such luck... The only other argument i have is that i had a letter saying they were changing me from 'graduate account' to a normal bank account on the 20th July, and then today (21st) these charges have been applied. I've never been charged before so im guessing its this change which has instigated the charges... but they have charged me for these withdrawals before 20th July - when it was still a graduate account... so i'm gonna argue that in the morning. Quote Link to comment Share on other sites More sharing options...
Sarnie Posted July 21, 2008 Share Posted July 21, 2008 Cheers Sarnie - thts pretty much verbatim what the HSBC girl said to me on the phone. Last year they were very quick to phone me when i went a tenner overdrawn after going on holiday, but this time there was no such luck... The only other argument i have is that i had a letter saying they were changing me from 'graduate account' to a normal bank account on the 20th July, and then today (21st) these charges have been applied. I've never been charged before so im guessing its this change which has instigated the charges... but they have charged me for these withdrawals before 20th July - when it was still a graduate account... so i'm gonna argue that in the morning. Last year their T&C's were different. No extentions to your limit was allowed without authorisation, if one occured they charged approx £10. Under this system your card would be declined at outlets, which therefore mean't they couldn't hit you with a further fee. They then devised this system to allow you to go over your limit, by doing this this is deemed to be request for an extension, they authorise the transaction and hit you for £25 per one. The change of accounts has nothing to do with the new fee structure as my account is still a graduate account and it applies to my account also. Quote Link to comment Share on other sites More sharing options...
Zummertor Posted July 22, 2008 Share Posted July 22, 2008 I have always tried to run pre-agreed overdrafts so only interest applies, easy done to set up especially if you have some building work going on and your payment and income stream are less predictable, this avoids the nasty fee if you do go over (always try to keep outgoings less than incoming as I can't see the point in giving money away to financial institutions). Hope you can come to some arrangement that is a bit better for you. Quote Link to comment Share on other sites More sharing options...
M13KYF Posted July 22, 2008 Share Posted July 22, 2008 Okay, phoned them up and im slightly less irate... of the £200, £75 was 'in error', but £125 still remains. They charge you £25 a day, on days where you withdraw more than £20. So because i paid for petrol on 3 separate days, and 2 bills went out on another 2 separate days, they have charged me 5 times. I asked if, god forbid, i knew i was going to be overdrawn again that if i go and withdraw £500 cash on one day, i'd only get charged £25 once - and she said yeh - you can get round it that way! Unbelievable..! would they given you back the £75 you were wrongly charged if you hadn't found that out and also how on earth can it be an error. A computer program just does it automatically. Quote Link to comment Share on other sites More sharing options...
Beavis Posted July 22, 2008 Share Posted July 22, 2008 Okay, phoned them up and im slightly less irate... of the £200, £75 was 'in error', but £125 still remains. They charge you £25 a day, on days where you withdraw more than £20. So because i paid for petrol on 3 separate days, and 2 bills went out on another 2 separate days, they have charged me 5 times. I asked if, god forbid, i knew i was going to be overdrawn again that if i go and withdraw £500 cash on one day, i'd only get charged £25 once - and she said yeh - you can get round it that way! Unbelievable..! would they given you back the £75 you were wrongly charged if you hadn't found that out and also how on earth can it be an error. A computer program just does it automatically. +1 Yes they are just trying it on, and many customers won't even question it. Its a form of legalised crime Quote Link to comment Share on other sites More sharing options...
Madmarky Posted July 22, 2008 Share Posted July 22, 2008 Ive been with HSBC all my life, there charges are shocking. When i split with my mrs i spent about 6 months going in and out and over my overdraft, there charges really were crippling me. I went to see them and all they wanted to do was give me a loan to help solve my probs. I managed to sort it but there werent any help at all really Quote Link to comment Share on other sites More sharing options...
mbs Posted July 22, 2008 Share Posted July 22, 2008 I'm with Lloyds TSB and for a £10 a month standing charge, I get a free £500 per month overdraft limit. I'm with Barclays and have what they call a Premier Account. It costs £10 per month and gives me an automatic overdraft up to £10k reviewed annually, the first £1k is interest free the rest at normal personal o/d rates. My income is not the same each month so I know where I stand I pay £10 a month and can use the o/d if necessary with no further charges. Quote Link to comment Share on other sites More sharing options...
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