HSBC Paid Up

[paper_tiger3030]

Hi. I wasn't going to post until the whole thing was over, and its over so quick!

 

HSBC helped themselves to some hundreds of pounds of my money in the past few months including six penalty charges in one month. After reading the advice here, I sent a letter before action asking for the whole lot back. After more than 14 days (but hey, I'm reasonable), got a letter back saying that they were confident they would win their case in court, but mindful of the irrecoverable legal costs that they would incur, and for these commercial reasons alone, would offer me "x" hundred pounds (less than the total) in full and final settlement. Bull****. Same day I issue proceedings through money claim online. Paid the fee WITH MY HSBC MAESTRO CARD. Total claim now "x" hundred plus my fee.

 

Acknowledgement of Service Arrives. As does letter from solicitors acting for HSBC which states that they are confident they would win their case in court, but mindful of the irrecoverable legal costs they would incur, and for these commercial reasons alone, are offering me the whole lot, plus my issuing fee. Would I sign the letter and keep the details confidential please. So, I've taken the money. I win hands down stage 2, and am mentioning no details here.

 

I have to say what is bizzare about this whole bank charges business is that it operates completely unlike any other business in the world. (With the exception of Direct Debits which are for expected and regular bills,) no other business would simply hand you a fee then help themselves to the money. At least you would get a bill or invoice which you could then dispute. Here, they just grab the cash and run. HSBC have even stopped issuing letters about charges and why. A simple TOTAL CHARGES sits on your bank statement, which is completely unclear what it is for. So they are even saving the price of the computer generated letter, paper, envelope, and second class postage.

 

If the end of all this bank charges litigation is that you have to pay a fee every month for your bank account, at least you are paying for a service. The fact that everyone would pay the same would be fair, rather than people who get into financial trouble coughing up the £3bn the banks make each year from penalty charges alone, furthering the divide between those who have money and those who do not. How did anyone come up with a system to pay for bank accounts en masse by taking money from those who have less of it?

 

Anyway, my case shows the banks DO NOT want this to go to court, and will pay up in full with a little pressure. Thanks to all the advice given here.

[Spiceskull]

Good result - well done. Obviously if one of the conditions of acceptance was that you keep it confidential, then you must stick to that (assuming you accepted). However, this does not mean you cannot discuss the issues in general, and your post gives hope to all of the rest of us HSBC victims.

[paper_tiger3030]

So does that mean I shouldn't have posted here?

[Spiceskull]

So does that mean I shouldn't have posted here?

No - your post just about had the right balance, with this qualification:

I win hands down stage 2, and am mentioning no details here.

[Spiceskull]

Sorry - forgot to mention. Could you fill in the survey, anonymously, at this link: http://www.consumeractiongroup.co.uk/survey.php

 

 

Thanks.

[paper_tiger3030]

Already did

 

Cheers. Without this website I'd be "X" hundred pounds poorer today.

[lynseyjane]

Thanks for posting this. Gives me so much hope as i filed for charges on moneyclaim this week with a sense of dread if i'm honest.

 

Well done xxx

[paper_tiger3030]

Don't feel worried. The banks do not want this to go to court. Its easier to pay out "X" thousand than to finally have the whole £3bn business proved illegal over the last six years (£18bn!??? repaid??).

 

If it goes to court and...

If you win: you get your money back.

If you lose: they get the money they've already taken (so you won't miss it that much), plus whatever it took to issue the claim. Not a major sting.

 

Good luck, and let us know how it all goes.

[Spiceskull]

Don't feel worried. The banks do not want this to go to court. Its easier to pay out "X" thousand than to finally have the whole £3bn business proved illegal over the last six years (£18bn!??? repaid??).

 

If it goes to court and...

If you win: you get your money back.

If you lose: they get the money they've already taken (so you won't miss it that much), plus whatever it took to issue the claim. Not a major sting.

 

Good luck, and let us know how it all goes.

Sorry, I don't understand...this has not even entered my mind. 8)

[paper_tiger3030]

Sorry, I don't understand...this has not even entered my mind. 8)

Well, I've already had to make do WITH the bank helping itself to my money. Which means changing budgets, not buying things you need, putting the car off road until you can cover tax. That stuff, the bank has ALREADY done to me. That I'm getting it back now doesn't mean that the past can be undone. If I'd lost and they hadn't paid me, I'd be more or less in the same situation I am now. I.E. Its pretty hard for things to get worse.

 

Am I clear?

[Spiceskull]

Of course - and you are right, court fees aside you would not be any worse off than before. However, when you consider that the reason for our claims is 'unfair terms in contracts,' and the OFT has said as much already, I don't see how a bank could win by claiming the penalty charges were legal and fair...

[ChelseaGirl]

Thanks for letting us know - was getting worried too!

 

Just keep watching the post now!

[lynseyjane]

Can i just ask when you filed your claim? I cant find you on the litigation in process page and was wondering how long this took?

[jscouser2002]

Can i please ask what the "X" is roughly, It will just give me more of an idea if it reaches my case. Might help me build confidence.

 

Thanks

[paper_tiger3030]

I didn't want to post litigation in process thought I'd just post after resolving everything. And I've just started another one against Halifax. They shafted me up the gary about three years ago before I closed the account. Anyway, the events were:

 

*I didn't use DPA as had access to all my accounts online. However:

*Letter before action sent 4 April.

*Reply received offering partial refund 27 April (yes, longer than 14 days but I'm a reasonable chap).

*Moneyclaimonline issued proceedings 28 April (but I don't **** about).

*Full refund letter offer received 5 May, retuened same day, awaiting payment.

 

Just over a month.

[paper_tiger3030]

Can i please ask what the "X" is roughly, It will just give me more of an idea if it reaches my case. Might help me build confidence.

 

Thanks

 

six.

[jscouser2002]

six.

 

6 hundred? Thats the same as my case, i think that with all the cases under 800 pound ive read. This is exactly thier method

[neilloffhagen]

I didn't want to post litigation in process thought I'd just post after resolving everything. And I've just started another one against Halifax. They shafted me up the gary about three years ago before I closed the account. Anyway, the events were:

 

*I didn't use DPA as had access to all my accounts online. However:

*Letter before action sent 4 April.

*Reply received offering partial refund 27 April (yes, longer than 14 days but I'm a reasonable chap).

*Moneyclaimonline issued proceedings 28 April (but I don't **** about).

*Full refund letter offer received 5 May, retuened same day, awaiting payment.

 

Just over a month.

Did they not ask you to sign a confidentiality agreement? Is this again a random thing that some get and others don't?

 

Neil

[paper_tiger3030]

Did they not ask you to sign a confidentiality agreement? Is this again a random thing that some get and others don't?

Neil

 

They did. And I did. Hence no details about who I am etc.

[lynseyjane]

thank you

[DJ Damo]

well done mate.

 

when they make me another pants offer, I lookin forward to issuing them with a court hearing and watching them squirm

[paper_tiger3030]

An addendum to the thread. The money I got back did not get me out of financial trouble. I am self employed and some of my clients take ages to pay me, so my pay is neither regular, nor reliable, although when it comes its a lot. I discussed my overdraft requirements with them and they gave me a limit lower than what I asked for. Hence I went over the limit. HSBC since helped themselves to a further £200 from my account. I sent a letter explaining the details to them about how I work, and that I've previously taken them to court, and they did not want to defend, and I really don't want to go court again, but if they insist then I will. My complaint was responded to with a straight stage 3 letter saying they will pay back the lot, while assuring me that their T&C's were fair, blah blah. So I win again. Wonder if next month will bring me more charges...?

[tararowett]

after posting my letter of action & spreadsheets to hsbc, i've just recieved a reply. they've offered me 3/4 of what i'm asking for. what do i do? a, take the offer, or b,hold out & take them to court

[paper_tiger3030]

Depends on what you want to do!

How much is 3/4?

[angela1606]

i would accept as part settlement and tell them you are then claiming for the rest paper i hope you have another account ready as from what ive seen if you do more than 1 claim on same account they will and i quote them (make a commercial desicion) and close the account down