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New Wording on HSBC letters!!!!! Help please!!!


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HI

 

Once I have dealt with the rest of the creditors I will be turning my attention onto HSBC. I have this week received 2 letters advising me that they have declined my unauthorised overdraft application and have returned 2 direct debits at the cost of £25 each - and they have cancelled the DDs.

 

This is new wording and does anybody think that this is HSBC trying to get around the unlawful charges by deeming this to be an unauthorised overdraft fee?

 

I just wondered what the more experienced thought.

 

THanks a lot

Gemspan

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It seems fairly standard to me.

 

An 'unauthorised' overdraft fee IS a penalty charge and should be dealt with as such.

Smile:-The Ethical Bank:- Settled July 2006

HSBC:- Pre-lim sent 09/10/2006

LBA sent:-26/10/2006

Court papers issued:- 13/11/2006

Citifinancial/DLC:- Ongoing since 21st August. Now part of an OFT investigation into Debt Collection Practices.

I am only a Doctor of Love NOT Law. Don't blame me if me advice goes belly up!

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Thank you for the advice. Because this is new wording I wondered if it was their way of trying to get out of the unlawful charges.

 

I watched The Money Programme during the week and thought it was laughable that the banks are now trying to say this is a service they are providing and therefore they are not unlawful charges!!!!! Thought HSBC were trying to get in on the act and change their goalposts.

 

Thanks a lot

Annie

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Hi Annie,

 

How on earth can it be a 'service' ?? for WHAT - the few micro seconds it takes computer to automatically monitor your account and 'notice' that you have exceeded a certain limit and then debit £30 from your account !!!!!!

 

The is NO manual interventon, nor do they even incurr the cost of a stamp as they don't write a nice 'you've just been fleeced' letter

 

They can wish all they want about it being 'lawful' but that's the very reason why not one single high street bank has actually appeared in court - they are petrified that they would loose, atract unwanted publicity and then 1,000 of people jump on the 'pay us bank' band waggon !!!

 

Remember in 2005 the banks reaped a massive £3 BILLION in charges . . would you 'risk' loosing that nice little earner, NO you would just pay back to those that found out how and issued a claim agaisnt them, and traet it as 'irritating' !!!!

 

Steve

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Dec 2006 - Sucessfully recovered over £3k from HSBC with much help from CAG :-D

 

 

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(The small print-my advice and opinions are my own, and are given freely and without predjudice or liability whatsoever)

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They can call it what they like, 'fee', 'service' whatever - its still a penalty. Its punitive by its very nature, no matter what they might care to call it. Its called 'cloaking' and its not likely to impress the courts much. Heres what the OFT had to say about it in their April report -

 

4.21 Disguised Penalties

 

The analysis in this statement is in terms of explicit, transparent default fees. Attempts to restructure accounts in order to present events of default spuriously as additional services for which a charge may be made should be viewed as disguised penalties and equally open to challenge where grounds of unfairness exist. (For example, a charge for ‘agreeing’ or ‘allowing’ a customer to exceed a credit limit is no different from a customers default in exceeding a credit limit.) The UTCCR’s are concerned with the intentions and effects of terms, not just their mechanism.

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Any advice or opinion is offered informally & without liability. Use your own judgment and if in doubt seek advice of a qualified and insured professional.

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  • 2 weeks later...

Hi Claire

 

If they do then that would be good (not for you of course!!!!) because they would lose and it would mean they would stop playing silly beggars with people.

 

The people that these unlawful charges have hit the most is the likes of you and me. By that I mean we dont have a lot of money and if, like me, you live on a tight budget then something like those horrendous charges can make your life a misery.

 

I really hope you can find the £100 to go for this as it would be a shame for you not to. I think the banks realise the costs involved and hope that people will pull out.

 

I hope 2007 is a good year for you. Dont worry; you will get the money you are entitled to.

 

Kind regards

Annie

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Thanks Annie, theres is just no telling I have just been reading boxers thread and he got his offer 2 days before he was due to send his AQ off, I will go for it though it is just hard to believe that you are ever going to get it back, mine is just on 5k, alot of money for the likes of me and with a new baby on the way I really need it!! All the best for 2007 I will keep you informed.

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Thanks Annie, theres is just no telling I have just been reading boxers thread and he got his offer 2 days before he was due to send his AQ off, I will go for it though it is just hard to believe that you are ever going to get it back, mine is just on 5k, alot of money for the likes of me and with a new baby on the way I really need it!! All the best for 2007 I will keep you informed.

 

Hi Claire

 

I'm following all cases very carefully and i'm so glad i'm not the only nervous wreck on the internet lol......

 

I'm just so envious that you are at the AQ stage and like you, i will struggle to find the funds when i get there BUT get there we all will.

 

Congratulations on the baby by the way... even more reason to hang in there eh?!!

 

Netty x

If i've been helpful in any way....then tip my scales over there!

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