HSBC 'Reccommends' absurd amount to enter my account regarding my overdraft!

[Mister Lusk]

Hi,

I have been with HSBC since I set up my student account. While I was a student, they were always nice and helpful, and were very keen to let me rack up debt with them with my overdraft and credit cards.

 

My account has now rolled over into a normal current account a few months ago. Having had a change in my personal circumstances, and moving areas, I am now claiming JSA and looking for work. Recently I got through 3 stages of a graduate scheme for a large market leader in the hospitality sector, only to fall at the last hurdle.

 

I am now in the recruitment process of applying to a grad scheme within the public sector, and the process is very long and drawn out. At the same time I am continuing to look for other work in the meantime. Part of the process is a series of bespoke online scenario tests, among other more standard reasoning tests. So it doesn't help when this arrives:

 

Important information about your overdraft.

The terms and conditions that apply to your overdraft state that you should make regular payments into your account when it is overdrawn.

 

As a responsible lender we regularly review overdraft limits to ensure they are appropriate for customers according to their circumstances. As part of this process, we monitor payments you make into your account each month. When the credits to your account have been low in relation to your overdrawn balance, we will recommend an amount that we would like you to pay into your account each month.

 

Your account was £1,847.50 overdrawn on 30 September 2013.

 

We recommend that you pay a minimum of £740.00 into your account within the next month.

 

This will help ensure we can continue to offer you a formal overdraft facility at its current level.

 

Should you have any queries on this or if there is any way we can help, please call us on....Alternatively, visit your local branch etc..

 

Yours Sincerely

 

Sarah Threadgould

Head of Customer Communications

 

I have never gone over my agreed overdraft, and am desperate to get off the dole into work. I visited my local branch and was told because I have stayed within my limits that I shouldn't worry about my overdraft being cancelled, but that it couldn't be dealt with it in branch, so I would have to call.

 

Before my account was to convert to a current account I entered the branch and was told not to worry about having to have a certain amount going into my account, as that only applies to new accounts.

 

I haven't called yet, as I am waiting to get in at my local CAB (it was hectic there this morning, so I went straight into the branch). I also thought it might be wise to post here for advice. Can anyone advise?

 

Many thanks!

Edited October 7, 2013 by Mister Lusk

[lookinforinfo]

From the bank's point of view an overdraft of that sum for someone not in employment is probably not appropriate. On the other hand they thought it was when you were a student and thus not

in employment.

 

It would be a help if when speaking to them you are upbeat about your chances of getting employment in the near future and from then you will be able to reduce/pay off the overdraft. What they

will want is to transfer this to a loan where they can get more money out of you. you would be best to avoid that scenario if possible.

[Mister Lusk]

Thanks for the reply!

 

Yes, the 'managed loan' scenario. I have read about this.

 

I am always pro-active looking for employment, and even have taken letters/print-outs of emails regarding employment in the run up to account conversion etc, to show I am trying to keep up my end. The issue is that I have seen, and heard of loyal customers hitting on hard times being met with not very sympathetic responses, hence the worry.

 

Also, trying to prepare for assessments to get myself into work with these 'recommendations' turning up isn't very helpful, and is arguably counter-productive in reaching a desired resolve for both parties!!!

[lookinforinfo]

Also, trying to prepare for assessments to get myself into work with these 'recommendations' turning up isn't very helpful, and is arguably counter-productive in reaching a desired resolve for both parties!!!

 

Welcome to the real world. One is sheltered in schools and universities to a fairly large extent from the travails of pressures from banks and debt collectors. You will learn to deal with threatening

letters and especially not allowing yourself to cave in under the pressure.

[Mister Lusk]

Yeah, I know that.

 

I don't live in a sheltered world, and do not come from a privileged background (obviously). It's just sometimes something turns up that will be the last straw, or the final boot-in for anyone, however resilient they are!

 

Thanks again for your replies!

[rdm2006]

from experience i can tell you that there is only ONE way to deal with HSBC as they are totally oblivious to the needs of customers in difficulties.

 

open an account elsewhere and have your money paid into that. TELL them (do not ask) that you will pay what you can afford when you can afford it and should they dislike this thay can take you to court where the judge will also tell them that they can have only what you can afford.