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Overdraft fees question, please URGENT


Caroline8
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I got in a really bad situation :( basically I have an account in HSBC with limit of 100 overdraft fee,Solo debit card. In May I had to pay for my studies and I went overdraft, silly me not thinking of consequences. It was around like 40 pounds. The first time I went overdraft. I didn't give it back, and then in July I went around 9 pounds overdraft more, so now I have like around 50 pounds overdraft.

Problem is I'm not in UK right now. I just talked with my cousin, and she has an account with Lloyds she went overdraft like one quid once and they charged her 30 pounds for a day. I was wondering if here anyone knows if HSBC does the same thing, and charges every day from May, when I overdrafted first amount, around this sume of money? I may be in debt of thousands right now?

Please please any information anyone knows, I'm freaking out here badly.

We have tried to call from here but either bad information or I don't know but on the security number of my debit card they blocked it. And now there's not even a way to ask.:(

pills11.com ;))

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so there's no such thing there as paying for every day such sume of money (like my cousin had 30 pounds for every day) since the day I went overdrawn?

are there any information regarding fees for those overdrawns? because the only information i find on their site i don't understand which applies for me:

 

Our Fair Fees Policy

 

Our Fair Fees Policy means that we will not charge any fees for agreeing either formal or informal overdraft requests, unless they occur frequently.

  • You will not have to pay for your first agreed overdraft request (formal or informal) in any 6 month period. Each further request in a 6 month period may incur an arrangement fee.
  • You will not have to pay fees for being overdrawn by £10 or less.
  • You will not have to pay more in fees than you are overdrawn by in your charging month, so a £15 overdraft will not cost you £50.
  • You will not have to pay a fee for an informal overdraft request if your account is credited with covering funds by the end of the same day.

pills11.com ;))
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If you go over an agreed overdraft limit then HSBC used to charge a daily fee of £25 per day until you went back into the agreed overdraft limit. If you are within the agreed limit, I don't think that they will charge you. I will have a quick check and see the current charges

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I have had a quick check and it is not very clear. It basically says that for an informal overdraft (where you go over an agreed limit without asking for an extension of an overdraft) they will charge an arrangement fee and you will have this new overdraft limit for 31 days. If you get another informal request within the 31days it will be treated as a new request and you will get charged another arrangement fee.

 

I think that this basically means that if you go over your limit and do not tell them, they can charge you for an informal request for an extension to the overdraft facility. If more money comes out of your account (not including charges) and you still do not tell them, then they can charge you again for an informal request and so on and so forth.

[sIGPIC][/sIGPIC]If you think my post was helpful, please feel free to click my scales

 

 

A prudent question is one-half of wisdom.

 

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And if say I went over my agreed limit of overdrawn 100 pounds, because I just realized conversion rates are crazy here, and while I took out from my card 1000 lithuanian litas, and thinking I may have taken out just 30 pounds of my agreed overdrawn limit, because I had 170 pounds in my account already, this may have converted into 130, because the bank here just told me they covert the pounds to dollars, from dollars to euros and just then from euros to litas.

 

My question is, if I went over 100 pounds the first time, which was in May, since then they counted every single day 25quid until today? or is it like with Lloyds, just the first 10 days of every month?

if so, is it possible urgently to cancel it and go to agreement to pay back whole sume of money in parts every month?

 

Is there any contact number of the bank without those automatic ones with robots asking for my details? I seem to mess up on my security code every time :confused:

 

I'm sorry for so many questions but since yesterday I can't sleep, eat, a perfect example how your life can go upside down in one second. One second here I'm studying law, and other i find out i might be in debt with UK with thousands of thousands pounds and I have to leave immediatly and every day just to breathe for me could cost 25 pounds...

Im really grateful for all your answers, thank you.

pills11.com ;))

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There are some phone numbers and email addresses in the first four posts on this thread

 

http://www.consumeractiongroup.co.uk/forum/hsbc-bank/74985-hsbc-contact-information.html

 

I know its hard to get through on the phone numbers even from the UK and would probably be expensive from where you are so maybe an email might be better.

 

pete

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I'm a little confused by this one - I didn't think HSBC charged on a daily basis, just the £25 for each informal overdraft request, for example:

 

Balance is £70 overdrawn

You have an agreed limit of £100 overdraft

You withdraw £40 which takes you to £110 overdrawn for which they charge you £25

You then withdraw a further £20 which takes you £130 and they charge you another £25

You then withdrawn £300 (never happen but hey!) which takes you £430 overdrawn for which they charge you another £25

 

Thats the way I understand it anyway.

DCA's - they have the same power as an infinite number of untrained chimps working on a script for Hamlet, but the chimps would probably at least get it right :D

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Lord, I sure hope so! It left for me to wait few days until my cousin goes to UK and she will check my account so I'd know for sure. Thank you so much for calming me down. Now at least I will be able to sleep until then :)

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Thats the way I understand it but I think they make there own rules up as they go along!:rolleyes:

Who withdraws £300 in one go? You must know some wealthy people! LOL:D

 

I wish - I'd ask them to pay for the wedding lol :)

DCA's - they have the same power as an infinite number of untrained chimps working on a script for Hamlet, but the chimps would probably at least get it right :D

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