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hsbc overdraft


craig1897
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Just a quick one

 

1)if you don't have a overdraft on your account am i right in thinking you cant go overdrawn.

 

2)does your bank have the right in putting an overdraft on your account without your permission.

 

3)overdraft. is it not just a short term loan.... should you not have too sign for an overdraft to be implemented on your account.

 

hope i make sense osrry if i don't

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Guest Old_andrew2018

Hi Craig

1) If you mean you cant go overdrawn well thats not quite true, occasionally money can be taken from your account when there is not enough funds.

 

2) By putting an overdraft on your account, do you mean allowing an account to go overdrawn.

 

3) I'm not sure about needing to sign, its possible you have without realising, that is there may be in the terms of the account.

 

Andy

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Just a quick one

 

1)if you don't have a overdraft on your account am i right in thinking you cant go overdrawn.

 

You can still go overdrawn if the bank choose to pay something when there isn't enough money in the account but they will call this an unofficial overdraft and charge you for it I think it lasts for 30 days.

 

2)does your bank have the right in putting an overdraft on your account without your permission.

 

There are two types of overdraft with HSBC unofficial (as above) and official. the official overdraft is one that is set annually and is fixed to a limit (say £1000) if you haven't gone overdrawn I don't see why you would need one of these or why they would want to give you one.

 

3)overdraft. is it not just a short term loan.... should you not have too sign for an overdraft to be implemented on your account.

 

Unofficial its the banks choice if they pay something when you don't have the money so no signature required.

Official I think should be up to you if you don't need it don't have it and ask for the assessment fee back.

 

hope i make sense sorry if i don't

 

Hope that helps

pete

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