Steerpike v HSBC

[Steerpike]

Hi there,

 

Heard about this fantastic site on TV and want to try and reclaim against HSBC. I've been with them for over 6 years and guess they have taken thousands in charges from me in this time. Given that they recently refused to temporarily extend my overdraft at a time when I was desperate (despite my having regularly paid thousands into their coffers and even taking out a loan with them) I feel doubly motivated to have some of my money back from them.

 

My biggest fear is for them to try and close my account and/or ask for the OD to be repaid instantly (in other words, they may lose their rag) - I'm not daunted by this but wondered if I should set up a new account with another bank NOW - even before asking for full charges details using the Data Protection Letter. If so, can anyone recommend a decent internet bank for basic current accounts?

 

Looking forward to getting to know you all

 

S

[honeygie]

hello steerpike and welcome to cag... this truly is a wonderful site offering loads of help. first and foremost, get as much info as you can by reading the FAQ's on the site.. it would help you tremendously as to the steps you need to take. and also, read threads of those who are still on the process of claiming and those who have successfully won their claims. i tell you they are amazing to read.. some are highly entertaining and very encouraging and inspirational.

basing on my experience, i did open another account first before i started everything. i felt more secure that way. so far, i've read that hsbc does not close account on first claims. as to other banks, majority are being claimed from as you can see in the main forum pages.. as what one very helpful advise given to me said- try to avoid incurring charges in the future... so goodluck to you and dont be afraid to ask even if u think your queries sound realy daft~ everyone here in cag are willing to help.. again, take your time and goodluck! happy new year by the way:)

[Steerpike]

Hi - sorry, first stupid question! Im sending the Data Subject Access Request letter but who is the cheque for £10 made out to? HSBC Bank plc? Also, am I correct in sending it to the Canada Square office?

 

Thanks

[barracad]

Yes to both questions.

[Hedgehog]

they sent mine back anyway, still sent the statements, so wouldn't worry much anyway..

[Steerpike]

Hi.,

I have recently sent my Data Access letter to HSBC for details of the charges levied on my account since 2000. I reckon I will be owed a fair few grand as being with HSBC has coincided with the greatest period of financial instability in my life so far.

I had already intended to change banks to Cahoot and have just applied for a Cahoot current account. So I do intend moving m to Cahoot before my next paycheque.

My big fear is this:- I am currently overdrawn with HSBC to the tune of £-700. Plus, I have a personal loan with them which now stands at £3900. I have never missed a payment on the loan. I feel I am locked in a vicious cycle with HSBC – they know I have undergone difficulties recently – divorce, child support etc…but they recently failed to show me any leniency at a time when I ran dry completely (and had to live off beans for 2 weeks!) and they know I am going to go overdrawn and trigger yet more charges – which all helps to keep me in this damn position! So I am determined to move but my fear is what HSBC can demand in respect of my OD and loan if I move? I had intended to write to them (after moving) to advise I intend to keep re-paying the loan on the terms already agreed and to pay, say, £30 per month off my OD.

Any ideas and/or support would be appreciated.

Thanks

[forever young]

You got my support bro as for the other q's well as far as i have read hsbc dont seem to close your account unless/until you try and claim a second time and as for the OD/LOAN i think (again based on what i have read on here) they wont touch the loan but MIGHT ask/demand that any monies be paid into an OD account. i hope someone with more experience might be able to answer more thoroughly but good luck bro and fight for whats yours, remember hsbc suck and very nearly ruined me a couple of years ago im still paying the price with defaults issued by them...... Dont let them do the same to you!!!!

[pmhcfc]

Hi.,

 

I have recently sent my Data Access letter to HSBC for details of the charges levied on my account since 2000. I reckon I will be owed a fair few grand as being with HSBC has coincided with the greatest period of financial instability in my life so far.

 

I had already intended to change banks to Cahoot and have just applied for a Cahoot current account. So I do intend moving m to Cahoot before my next paycheque.

 

My big fear is this:- I am currently overdrawn with HSBC to the tune of £-700. Plus, I have a personal loan with them which now stands at £3900. I have never missed a payment on the loan. I feel I am locked in a vicious cycle with HSBC – they know I have undergone difficulties recently – divorce, child support etc…but they recently failed to show me any leniency at a time when I ran dry completely (and had to live off beans for 2 weeks!) and they know I am going to go overdrawn and trigger yet more charges – which all helps to keep me in this damn position! So I am determined to move but my fear is what HSBC can demand in respect of my OD and loan if I move? I had intended to write to them (after moving) to advise I intend to keep re-paying the loan on the terms already agreed and to pay, say, £30 per month off my OD.

 

Any ideas and/or support would be appreciated.

 

Thanks

 

Get your last 6 years statements first and foremost, then go from there. I get the impression you're going to claim back more than the -£700 ? As for the loan, is it an agreed loan? If so, then they can't suddenly demand it be paid back earlier than the signed agreement. Once you receive your monies back, it may well be paid into your account, but at least your o/draft gets paid off, and perhaps some left over to indulge yourself with...Keep us posted...I've just started a claim with HSBC also

[Steerpike]

thank you - sound advice. It is indeed an agreed loan. I think I will stick with HSBC for now.

[Steerpike]

Hi,

 

I've gone through my last 6 years statements from HSBC (current account). The excel simple spreadsheet I have used from this site, to calculate the charges, mentions charges such as Unpaid cheque charge and cleared transaction. My statements only lists "total charges to **/**/**" under the code DR. As far as I can see, these charges range from £18 in a month I havent exceeded my OD limit to £125 in a month when I have.

 

In other words, I cannot differentiate what the "total charges" are for. Am I right to simply add up these monthly charges and claim these? Or are HSBC expecting me to tell them exactly what charges I am claiming even though I cant see they have been at all clear what they have charged me for?

[nettyg]

you add the 'total charges' exactly as it is on your statement. hsbc didn't tell you what it was so how can you possibly tell them!!

i'm sending you a link with what you can claim for ok?

Charges description on statements - Please Read

[Steerpike]

Thank you. I will just send them the template letter with the total charges entered on the spreadsheet schedule then. I cannot find any other charges levied on me other than those listed under "total charges".

 

One small point: I imagine that if you make a mistake (and going through 6 years worth of statements, this is quite likely!) then are they entitled to kick out your claim? I would guess that if you underclaim, they will be ok but will be obstructive if you overstate your claim. Is this right?

[nettyg]

just take your time when going through your statements. use a highlighter pen and enter onto the spreadsheet exactly what it says on the statement. they won't kick out your claiming something incorrectly - they will not pay that particular item! simple as that. just remember you cannot claim for things like ATM fees or stopped cheques etc, as they are a fee for a service. returned dd/so's, charges for going overdrawn, charges for unpaid items - all claimable. again, take your time.

[Steerpike]

Hi,

 

I have just received a reply from HSBC on day 14 (the last day) after having sent the prelim letter. It is a stalling letter saying they are looking into it. It also mentions a leaflet explaining bank charges (NOT enclosed!!).

 

Do I now send the Letter Before Action or wait for them to get back to me?

 

Thanks

[givememymoney]

Don't wait for the bank and there empty promises stick to your own timescales and send the LBA.

[siena]

You are probably in for a long haul so be prepared. Get your LBA off as soon as possible and start preparing for next stage, mcol.

 

Best of luck

[Castlebest]

Once your LBA is away its a good idea to register with MCOL, you can start to enter the information for your court claim, there is no problem with logging off and going back later to enter details you needed to find or to edit what you entered earlier.

That way you claim will be ready and you will be happy with it on the day you submit it

pete

[Steerpike]

Hi,

 

I'm about to enter my MCOL for £1491.00. 2 things I wanted to clarify before doing this:

 

1. I dont know exactly when I started with HSBC - is this a problem? They ask for my start date.

 

2. I'm not claiming interest so I'm ok to leave this out of the claim?

 

Thanks !!

[Michael Browne]

1. An approximation is fine, eg since 1998

2. That's fine, but I have to ask why ever not? It's yours for the asking and on £1500 is likely to be £200-£300

 

Also this may help:

Getting MCOL Right

[Steerpike]

ok thanks - I mean I'm not claiming overdraft interest. Does the spreadsheet work out the overall interest for you? I am claiming exactly £1491.00 excluding interest. Thanks

[Michael Browne]

Sorry, I thought you meant s69 8% interest

 

Vampiress has a spreadsheet, (the advanced one), in the bank templates library, which attempts to calculate the OD interest

It's quite complex and unless your claim is large may not amount to that much, so for simplicity's sake, some people don't bother

 

For just s69 8%, use the Simple S/S here:

 

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/182-interest-calculation-spreadsheets.html

 

See here for a visual guide:

http://www.consumeractiongroup.co.uk/forum/barclays-bcard-woolwich-successes/7226-maisielou-barclays.html#post50088

 

When entering your charges, don’t delete anything first. Just overwrite the existing examples: type of charge, amount and date.

 

The days since and 8% will be calculated automatically

[Steerpike]

Brilliant. Thanks a ton Michael.

[Steerpike]

One final thing!

 

In the original Letter of Claim, I claimed only the £1491.00 and did not claim interest. Does this affect my right to include the s69 8% in the MCOL?

[Michael Browne]

Does this affect my right to include the s69 8% in the MCOL?

No, because you are not entitled to claim s69 interest until you actually file at court.

[Steerpike]

Great stuff. Well I'll def.include it and use the interest payment for a few curries and beers to try and redress the stress HSBC have caused me over the years!