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HSBC Informal Overdraft Requests


asatate
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OK, So i managed to claim back my penalties and over Xmas i did go over my overdraft limit with very small purchase amounts and now HJSBC charge 'informal overdraft limits' to the amount os £25 a pop.

 

Has anyone encounters these and more importantly, can you claim back on them. They are using semantics to charge again!!

 

Heres the response to my request that undefr no circumtances do I want them to give me money if it means that i will be going over my overdraft limit:

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Whilst I do acknowledge your comments regarding this matter, please be advised that the bank does not have any measures to prevent informal overdraft requests from being made to your account.

 

As such, please note that it is the responsibility of the account holder to monitor the account to ensure that sufficient funds are available when items are presented for payments. You can monitor your account via our telephone banking, Personal Internet Banking or branch service.

 

Should this not be the case, charges will be applied in line with the bank's standard tariff.

--------------------

 

I would be interested to hear feedback in this regard.

 

Asatate

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Hiya asatate and welcome to the CAG :) I will get your thread moved to the HSBC forum where there are loads of people who will be willing to help you.

 

as for your informal overdraft charges, this is no different to the old penalty charge, they have just renamed it :rolleyes: so ask for it back :D

 

pete

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I'm interested in this too, as I currently have an informal overdraft with HSBC and I know for a fact my brother has been charged a lot for going informally overdrawn a few times, but how would he (and I, if they charge) claim the cash back? I was also wondering if you can get cashback when you have an informal overdraft?

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HSBC renamed the charge for exceeding your agreed overdraft last year, its now called an "informal overdraft fee" this is still a charge for exceeding your overdraft limit and therefore can still be claimed back from the bank.

 

Just follow the step by step guide in the frequently asked questions section of the forum.

 

pete

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I recently got a statement with this £25 informal arrangement fee. I heard mixed opinions about whether you claim this back or not as they are providing service (apparently).

 

I think I'll put a claim in tho, have been with HSBC for 6 years and this is the first time I've had a charge from them on my bank account :(

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Hi kriso. Have you tried to ask for the charge to be refunded. Sometimes if it was an actual error on your behalf, and you do not normally operate your account to let it go over your limit, they refund it. Try and ask your branch manager, you never know he/she might be a really nice person and refund it for you.

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A prudent question is one-half of wisdom.

 

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I have gone over my OD limit slightly a few times, but only by £10-£20 and then I get paid. I did get paid 2 days after I exceeded my limit when I got this charge but I don't have much faith in HSBC's customer service I'm afraid. Also my 'branch' is now just a cash machine on a university campus and there is no-one there to ask.

 

If I get the chance to get down to another bank then I may ask about the refund. Thanks for your reply

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Hi all!

 

What about notified fee's whatever they are?!?!?!

 

Ive got some infomral charges and notified fee charges whcih amount to exactly the same thing.

 

I respect to them proving a service. Its not a service that i want them to provide and have out this in writing to them but they say it can not be changed. LOL.

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Informal charges are when they pay an item and you have not formally requested an extension to your overdraft to cover the payment. Notified charges are the ones they notify you each month and basically are the informal requests for an extension to your limit. These are currently charged at £25 per day for each day you are over your limit (unless you are over your limit by a really small amount eg I was charged recently £19 for going over my limit by £20). They say they will not charge you more than what you have gone over by (just slightly below in my case). HSBC did for a while send a letter to you stating that they have agreed to your "informal" request for an extension to your o/d, but these (for me) have since stopped happening, and you just get the normal advice statement letting you know how much they will be taking out of your account on a certain date.

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[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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  • 2 weeks later...

Ohhhh dear Kriso. It happens to us all :( . As this thread belongs to asatate, do you want to start your own thread here, that way we won't get confused with who we are trying to help. Just click on the button below and post away :) .

 

newthread.gif

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

 

 

A prudent question is one-half of wisdom.

 

:D

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  • 2 weeks later...

Charges are calculated and notified monthly; they look at two things, first is how many days you have gone over your limit or further over your limit, second is total amount in the month you've been over your limit. The 'Fair Fees Policy' has some additional terms like there's a £10 buffer zone where you won't be charged. The charge is £25 per day unless total amount gone overdrawn

 

So example if you have a £100 overdraft:

 

Day 1 you go to £109 in debit

 

Day 2 £140 in debit

 

Then no more transactions take place and the account stays at this balance until the end of the charging period.

 

You'd be charged £40 as max for 2 days is £50 but you only went total £40 over. If your day 2 balance was over £150 in debit you'd be charged £50 in this scenario

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  • 1 year later...

Hi. I have just been charged £25 as an unarranged overdraft fee plus £25 for returning the item which pushed me over my overdraft limit! Net result- I never breached my overdraft limit once the item was returned. How do they justify this?

 

Surely they cant charge for a service they aren't providing?

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Hiya Anansis and welcome to the HSBC forum :)

 

They dont have to justify anything unless you ask them to :rolleyes:.

 

If this is a one off occurance we have found your branch manager does have the power to reverse these charges as a good will gesture if you go into your branch and complain in a face to face situation :) but this will only work once.

 

Dont try to do this over the phone because the phone monkeys in the Phillipeans dont have this "good will" power and will just try to get money off you.

 

pete

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