Simon Vs Hsbc **WON**

[SIMON SMITH]

After hearing about this from a friend last weekend, I'm about to embark on reclaiming all my extortionate fees.

 

HSBC have refused me an overdraft in the past, but many months I'll go into funds that aren't there, incurring the same charges (£25 per time, totalling £125)... Although I don't have an overdraft, I want to confirm that I can still go ahead and reclaim all my money.

 

Yesterday I requested my statements for the past six years, and intend to set up a new account with the Woolwich.

 

What's the next step?

[Rusty-London]

Hi Simon, It doesn't matter whether or not you have an overdraft. You are able to claim the charges back either way. I was in the same boat and am claiming mine back too.

 

Good Luck

[SIMON SMITH]

Thanks! I'm going ahead with it. I've had to ask HSBC twice to send the statements. It's been two weeks since I requested six years of statements, and they still haven't arrived.

 

One more question.

 

I'm in the process of transferring to Barclays... If this transfer renders my HSBC account closed, will I still be able to claim for all the charges? - or do I need to hold an account with the bank I'm trying to get money back from?

[angela1606]

hi do you have online banking as you can get your statements from there and it doesnt matter if account is active or not still claim good luck

[SIMON SMITH]

I've had to ask HSBC twice to send the statements. It's been two weeks since I requested six years of statements, and they still haven't arrived.

 

 

I'm in the process of transferring to Barclays... If this transfer renders my HSBC account closed, will I still be able to claim for all their unfair charges? - or do I need to hold an account with the bank I'm trying to get money back from?

 

I assume that the charges are still classed as illegal, regardless of whether I'm still an HSBC customer.

[angela1606]

PLEASE SEE YOUR OTHER THREAD HAVE ANSWERED btw you might get a telling off from mods if ya keep starting threads especially if its to answer same questions

[SIMON SMITH]

Thanks Angela. I've not participated in a forum before... I'll try not to do it again.

[angela1606]

lol thats ok it also just makes it easier for them to help you if you stick all questions under 1 thread so they can read your story a bit like a book

[SIMON SMITH]

Despite two requests HSBC still haven't sent me any statements. So I downloaded them myself - with 'Total Charges' over the past six years adding up to nearly £2,700.

 

Is it right to claim for 'Total Charges' ? That's as far as it breaks down.

 

Hands up, I have mismanaged my money in the past, but have always paid my debts. If I end up going to the Small Claims Court is it likely they'll laugh at my past history and throw the claim out?

[Kazzy77]

nope. your charactor is not what is being put forward for debate. Your claim is about charges which have been taken by a company who promised u they would never take anything from u unlawfully. They wont say how their charges are made up (made up being exactly the case I believe) so it can only be assumed they r unlawful penalties.

 

good luck!!!

[SIMON SMITH]

Thanks for the support. Right, next step it is then.

[angela1606]

hi gl again lol dont forget its not just total charges you can claim for d/d fee's and s/o fee's and bounced cheque fee's

[SIMON SMITH]

it appears most of my charges are just TOTAL CHARGE - unauthorised overdraft fees

 

rather than calculate interest for every single charge, can't i just request 8 per cent of my total reclaim (which is £2,740) ?

[Michael Browne]

Look here for explanation of HSBC charges:

http://www.consumeractiongroup.co.uk/forum/hsbc-bank/15518-charges-description-statements-please.html

[Kazzy77]

U dont have to work them out at all.... if you go to FAQs and find the "step by step" guide, you'll find an excel spreadsheet that adds it for you. it takes a bit of time typing in the dates and charges (depending how many there are i suppose lol) but its worth doing cos then on the next sheet the 8% is worked out for you.

 

God bless that spreadsheet...i wouldnt have been able to work it out by myself to be honest lol.

 

Im not 100% sure its in that thread mentioned above but i know its around the FAQs somewhere. will have time to look for it for you when i get back from the school-run.

 

xx

[SIMON SMITH]

so i've read that you can calculate interest on the amount by multiplying the total amount by .00022. is that right?

 

sorry if i'm stoopid. it's all very confusing...

[Michael Browne]

There isn't just a single calculation that you can do. Each charge has to be calculated separately from the date it was incurred to the present day.

 

The Simple s/s does this:

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

 

Overwrite the examples with your type of charge, amount and date - the days since and 8% are calculated automatically.

[SIMON SMITH]

Thanks. Have just calculated all my charges. Phew. Letter off in the post to HSBC first thing tomorrow. CHEERS!

 

14/09/06 HSBC - First letter sent: £2,719 plus interest £430.37 = £3,149.37

[Michael Browne]

14/09/06 HSBC - First letter sent: £2,719 plus interest £430.37 = £3,149.37

 

Is this interest calculated from the Simple s/s? If it is, this can't be claimed until you file a claim at court and shouldn't be mentioned in the prelim or LBA letters.

[SIMON SMITH]

Wow. Thanks for that. I would have sent it off. Yes it is from the spreadsheet. One of the letter templates says (plus interest)...

 

So - in this instance is the letter wrong, and should I just claim for the total offences £2,719.00 ?

[Michael Browne]

There are 2 instances of interest you can claim:

 

1.When you go overdrawn the bank will charge you interest, perfectly lawfully.

 

However, if part of your overdraft is made up of penalty fees, they are also charging you interest on these too and it is this interest which you are entitled to claim back, but it's tricky to separate out from the total interest figure.

 

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

 

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

 

This is the interest referred to in the preliminary and LBA letters.

 

 

2. Section 69 8% interest on your claim, but only when you submit a claim at court. Don't add this interest before moneyclaim

 

This is posted on the spreadsheet thread, which I assume you didn't read:

 

You are advised to send a breakdown of your claim to your bank with your request for a refund of charges. You are strongly advised to attached a schedule to your claim with the courts.

 

If you send the bank a letter before you have given them time to pay up demanding 8% APR they will know that you do not know what you are doing and this will more than likely end up with you NOT getting your money back.

 

All charges and dates are ficticious, but here are some spreadsheet templates to help you calculate the interest. Simple versions will calculate the 8% APR only, to be used when filing court claim. Advanced spreadsheets will also help you to calculate the overdraft interest you have been charged by your bank, which you can request at the preliminary stage.

[SIMON SMITH]

I did read the info with the spreadsheets. Got awful confused though. My claim is not large, and I think calculating the interest would be too complicated for me. So the premlinary letter from me (with schedule attached) will not request any interest. Thanks for the assistance. I appreciate the help.

[SIMON SMITH]

Right. Done it.

 

15/09/06 preliminary letter sent to HSBC - £2,839

[SIMON SMITH]

I haven't received any feedback from HSBC since I sent the letter on 15/09/06. Tomorrow I will send my LBA - also by recorded delivery.

 

Just one question though. While this process is ongoing, further charges will accrue. Do I add revised figures with my LBA - or do I have to start up a separate claim?

[Michael Browne]

You can amend your claim (up or down) right up to moneyclaim, no need to start a new claim