Thread: Hsbc - Default Account - £20 - 17 Years Old - Credit File

On the 14th February 2005 I opened a standard cash account and savings account with HSBC at the age of 16. When I first set up the accounts I had the choice of setting up an option where they could take a certain amount of money out of my cash account monthly and place it into my savings account, I accepted and allowed £20 to be taken out each month to go into the savings account.

A year later I started college and wasnt working anymore - when a statement came through one month it showed me I had £20 in my savings account, I simply thought that this money must of been forgot about by myself. I then withdrawed this money from the cashier no problem, several weeks later I get a letter saying that I owe them the £20 and it appeared on my statement also -£20. Well I was curious at first of how I could owe them money because i was at this time 17 and did not have credit or debit and wasnt allowed to be overdrawn.

I then realised that they credited my savings account the £20 because as no money was going into my current account there was no money to go into my savings account. So at that time I couldnt pay it back straight away so they just had to wait, I then get a letter through the following month saying that they have charged me £7.00 for the late payment or being overdrawn and if there were any problems to ring the number provided, so I did and explained my situation.

The following month I get another letter saying the same and again charged another amount which I believe was £7.00 again. The month after I paid a cheque in to the sum of £400, I then recieved the followin week a cheque from HSBC bank hand written and signed for the sum of £358 saying they had taken the money out that I owed them and closed my account, they had charged be £27 alltogeather £40 in total including the money they credited me. I was nether warned of this happening and never told that my account was closed before I paid my cheque in. All this whilst I was 17, and too my knowledge you are not allowed credit or debit to you untill you are 18, even so I didnt have an account that allowed me to withdraw money that I didnt have in there anyway.

So its been 3 years now and im 20 in april, I opened an account with Lloyds tsb soon after and I was 18 and the only option I had was to have a standard cash account, the staff member at lloyds tsb said it was because hsbc had placed it on my record that all banks are visable to see.

I applied various times for a credit card but was refused all the time, then a year later im 19 I still couldnt get no credit card. I decided to chek my file, not only did I find that some company had done a search on my file for MONEY LAUNDERING - which im currently chasing up, however that doesnt effect my credit score. On my credit score HSBC had stated my account as DEFAULT and then the following month as Settled/Satisfied - it also says below DEFAULT: -A notice of default has been served to the account holder. there was never a notice! I now need credit and need to know was it legal for me to be credited the £20 when my account shouldnt of allowed it - so was HSBC in the wrong, the £27 they charged me for whatever - was that correct procedure for my situation? and how do I go about getting this amended? Too me is seems like HSBC did me wrong - help is much appreciated.

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Hi there, before we can help is there any way that you can edit the post to break it up into paragraphs, it really is very difficult to read. thanks

Hi, I cannot help you but I have asked a s/h or mod to come and take a look and advise you