Read the FAQ, confused- "Unfair charges"

[Kashume]

Hi guys, I have read the FAQ and a few posts that seemed relevant on this HSBC forum, but im a bit confused as to whether you can reclaim any and all charges or just those that are deemed "unfair".

 

I have an overdraft with HSBC and I often go overdrawn by a decent amount (sometimes £10, sometimes £50 and in a very few rare cases £100+). Each time I go overdrawn I get charged £25, if I go overdrawn more than once in a month I get £25 charged again. As I tend to bounce money around my accounts (saving account, general account etc), I often get charged £50+ a month.

 

My question is this- with my "over the overdraft" amount that I often go are these charges of £25 each time unfair and reclaimable? Or does this unfairness actually mean being charged £50 for going over by only a couple of pound?

 

Thanks for your time

[jonirvine]

Hi Kashume,

 

I'm new here too, but after noticing £125 disappear from my HSBC account today I've spent almost all day looking into this. I've also only just noticed (I never was any good with my personal money) that they've been doing this for years, though it used to be £18, then £20.

 

I think the 'unfair' aspect derives from the fact that the costs involved for you going overdrawn to the bank are no where in the region of what they actually charge you. That includes the first 25, and the second... and in my case 3rd, 4th and 5th!

 

Incidently, I spoke to HSBC today and they said that if you go overdrawn by more than £10 you get charged £25. If you, a direct debit, credit card payment, etc then takes another figure above £10 out the day after you get charged again. You don't need to go under then over.

 

Also, they can do this on a daily basis... so 3 x £4 in 1 day and you're charged.

 

Finally, they have a limit of £125 per month. By the looks of my previous accounts (which I''ve been looking through today) this may have used to be £54!

 

Anyway... back to the books.

 

Jon

[BankFodder]

Charges are unfair and therefore invalid of at any time they are levied at a rate which is disproportionate. That is to say that they exceed the actual losses which have been caused to the bank by your transgression.

 

You can claim any charges which meet this criterion

[Kashume]

Thanks for the replies guys, that has cleared everything up

[gordylar]

Hi kashume, I too am new here. After going over my last 6 years statements I found that the HSBC have been very inconsistent with their charges to me. For the first 3 and a bit years I was never charged more than £27.50 a month no matter how many things were returned, refused or for being overdrawn.

Then it all changed during the second 3 years, they charged me for any little misdemeanor and the charges went through the roof. The 1st 3 years charges amounted to about £1000 for very bad management of my account. Then when I tried to sort out my finances they hit me, and the last 3 years totalled about £3000 even though I managed my account better their charges were a lot of the cause for me getting even more charges. It doesnt make sense so i'm claiming for it all plus interest.

If its a charge claim it, if its unfair.

Good luck to you

[Jason1975]

Remember that the process of the banks charging you isnt done by someone sat at a dest looking through peoples accounts and using any kind of reasoning with the charges. They are done automaticaly and cost them less than £5. So if you go 50p or as I did once £600 over your limit the charges are still the same and are always unlawful when they are not just reclaiming their expences.

 

So if you havent done so already send off your S.A.R letter with your £10 (which will more than likley be sent back) and familiarize your sely with Vampresses spread sheet to work out exactly how much you are owed. The spread sheets are here. They are not too difficult but post back if we can help any further.

 

J.

[lateralus]

gordylar, if i may.....you are posting on a thread of someone who hasn't posted in 10 months - you must reallly have been digging around - or probably used the search. anyway, we need to get you your own thread.

when you first go on hsbc forum, just above the thread list is a "new thread" logo, just press it and give it a catchy title and your name and away you go - you could cut and paste your message you wrote here or just write it again. you can have the thread to keep like a diary of what you've done and this way it is easy for you to ask questions when you need to and even easier to find you again for us...... so, as jason says, most importanly, read the faqs and stepsNewcomer? Here's A User Guide, read them a couple of times. start your own thread, have a look at thisCharges description on statements - Please Read. and when you are ready to give it a go, if you have questions, ask away.....

i have a very simple to understand piece i will send to you if the bit about the interest confuses you along with simple directions on the spreadsheet if you need it. mainly, read the faqs and let's get you your own thread. welcome to the forum.

[Kashume]

This topic was closed on 03/06/19.

If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support their.

If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened.

- Consumer Action Group