Hi I've all I can, i've written a number of letters and now just want to close the account. What are the consequences I have a credit card associated with the account with a limit of £1000 and the overdraft continues to increase daily whilst these letters run back and forth, so in total including bank charges apprx £1,600, please offer some advice on how I proceed.

I have a T/A Business account,cashflow was becoming an issue, I visited my bank asking for an overdraft and was told that it wasn't worth applying for, because based on the acitivity on my account I would probably get turned down and plus there is a £100 fee. So was told to borrow money from friends and family to help, I was only asking for about £50, to cover a £30 direct debit to a credit card attached to this account. This was also to avoid paying £8 per day in bank charges. My account became overdrawn by £28.88, I didn't realise (my fault), so was charged bank charges of £8 per day. My initial argument with HSBC, was if they had helped me when I asked I wouldn't have these ridiculous charges added to my account. How can they justify debiting my account £160++++ per month yet wouldn't authorise a £50 overdraft. My account is now nearly £500 overdrawn with £470 being bank charges. I have written a number of letters to HSBC, they are standing firm that the charges will continue until I clear the debt. I have written to the Customer Services Manager, who is standing firm also. Each day my charges are escalating. I visited my local branch last week in a last bid for help, they suggested I try and apply for a managed loan, where I consolidate my overdraft and balance on my credit card which would amount to £1,500. All the threads in this forum say steer clear of this type of loan. I considered making an offer to pay monthly of £30 which, but with £8 per day being charged, what I can afford to pay would get swallowed up in the charges. They won't stop the charges and I have been writing back and forth since November 2009. I have openend a parachute account, but have other accounts with HSBC, which are running okish in comparison. What can I do, I want to complain about HSBC, on the grounds that I sought help and was given none. How can these charges be at least frozen until we come to a resolution. Can someone help me with what I should do, I have sent the telephone harrassment letter, so hopefully that will at least hold off the phone calls. I have paid the £8 bank charges prior to this situation, and that has also been my ground that I have honoured the ridiculous charges in the past and when I tried to put something in place (i.e an overdraft) to avoid the escessive charges, not surprisingly they said no, this method clearly makes them more money. Thanks

I forgot to mention the account is a T/A business account, does this change things...

Thanks very much, I have heard FOS pretty much work in the banks favour. Should I make an offer to pay something monthly, at this point the issue is actually a complaint about HSBC, they offered nothing, yet are happy to apply £8 per day on my account, I am now almost just over £500 overdrawn. I became overdrawn by £28.88, (sorry not £50) which was my fault, therfore £470 of my overdraft is all HSBC bank charges. I do have grounds for hardship...so will write another letter to HSBC, explaining hardship, then will make a complaint to FOS, all correspondence has been in writing and at no point have HSBC offered a solution accept to say the charges are within there terms and conditions. I'm just concerned that each day the charges are escalating. Your response has made me realise that in fact I want to make a complaint about HSBC and get back my bank charges. Thanks

I need help, went to my bank July 09 asked for a £100 overdraft as I could forsee would go overdrawn. Was refused....told not enough activity on my account!! Went overdrawn by apprx £55 at end of July 09, I am now over £400 overdrawn Dec09, I am being charged £8 per working day. I wrote disputing as I came in for help and was not given any....just told to borrow from friends and family. Received standard template letter, pay up! wrote again to customer service manager, they responded pay up!! Now going to write to the Fiancial ombudsman. My anger is had they helped me back then, I would not be overdrawn to this extent. They are refusing to help, I am receiving in excess of 10 calls a day. I have direct debits returned, despite me paying money in to cover the direct debits, but because my account was overdrawn, returned unpaid. I received default notices from virgin and hsbc credit card:-x now on my credit file. Wrote again, there response our charges are correct...blah blah and pay up. These charges will bring to over £500 overdrawn at end of Jan 10. Should I close the account but have a credit card linked to the account, can't afford to be backed in a corner to pay off in full. Help, what should my direction be now, I have opened the parachute account with another bank.