Help needed,

  barca1 12:13 07 Mar 2008

Not sure where this should go in here or the helproom?
i opened a account with hsbc late last year & the person i opened it with in the bank asked me what kinda account i wanted so i talked it through with her & i said i'll go for the premium account & pay £12 per month for it,i also got a new mastercard,she also asked me how much "OverDraft" id like & she did state i could go upto £650 & £3K on the mastercard BUT i kept it sencible & asked for just £100 overdraft & £1500 on the mastercard & this was agreed & i signed for it....end of story..or so i thought..?
i went to get some cash yesterday & was Horrified to find that my Unemployment Benefit (as just come out of work) had been swollowed up & i had NOTHING..!! please bare in mind i have a family... so i contacted the bank & asked whats going on? they stated that i only had a £50 over draft & due to me going over there was various charges totaling around £100 (I only get £120 pw for my family) this also happened at christmas but i didnt chase it up as i was simply to busy anyway i stated i do have a £100 overdraft & they insisted it was just £50 so i asked them to follow this up & they did so i recived a call from the lady i opened the account up with & she DID state she had made a misstake & NOT lifted my overdraft from £50 to £100 when i opened the account so she said she'll have to get back to me as she wants to try to lift my overdraft to £100,this morning i receved a call from her again & she informed me that she cannot change the overdraft as i am now out of work the conversation kinda ended there..BUT ive been thinking (Hense why i am creating this thread) if i belived i was contracted & signed for a £100 overdraft & the fact that the lady HAS admitted fault surely i can apply to have ALL the charges for going over the £50 limit Refunded to my account cant i..?? as they run into hundreds of pounds..? anyone like to add to this PLEASE..

  Pine Man 12:25 07 Mar 2008

What did you do with the copy of the contract that the bank gave you when you opened the account?

  Covergirl 12:26 07 Mar 2008

<Quote>i belived i was contracted & signed for a £100 overdraft & the fact that the lady HAS admitted fault surely i can apply to have ALL the charges for going over the £50 limit Refunded to my account cant i..?? as they run into hundreds of pounds..? </Quote>

Sounds like you're in the right.

Pester them until you get satisfaction, then try live without the overdraft facility as you're ultimately only robbing Peter to pay Paul . . .

  lotvic 17:21 07 Mar 2008

Help for you is nearby click here
and they also have an excellent forum Martin Lewis' (as on tv)

  spuds 23:07 07 Mar 2008

I would suggest that you contact your local Citizens Advice Bureau or Money Advice Centre. Banks can be difficult places to deal with, unless you know how to deal with them.Remember also, that a bank can withdraw overdraft facilities at any time, and request immediate repayments of money owing.The same rules, applies to credit cards.

  Totally-braindead 23:16 07 Mar 2008

I would go with spuds as well. The CAB people are fantastic and they will sort it out.

  Forum Editor 23:32 07 Mar 2008

are granted entirely at the discretion of the bank, and may be altered or withdrawn as your circumstances change. That's the first point - the fact that you are now unemployed would tend to explain why the bank is unwilling to extend the £50 limit.

The second point is that your original overdraft limit would have been notified to you in writing whe you opened the account - you would have received a letter explaining the terms and conditions applying to your account, and the limit of overdraft facility should have been mentioned. In addition, some banks print the overdraft limit on the top of the bank statements you receive - I don't know if HSBC is one of them.

  laurie53 08:21 08 Mar 2008

On the top of my HSBC statement is not only my balance, but my available credit. This is always £250 more than my balance to reflect my agreed overdraft facility, less the amount of uncleared funds.

  Forum Editor 08:26 08 Mar 2008

You say that you requested a £100 overdraft facility, and that this was agreed by HSBC.

Now you say that your statement always shows an available balance of £250 in excess of your account balance, less any uncleared funds. This means that the bank is recording an overdraft facility of £250.

Do you have a debit card, and if so, what shows as the available balance on an ATM? It should be the same as the statement - £250 in excess of your account balance.

Something doesn't make sense here.

  Monoux 08:44 08 Mar 2008

FE --perhaps it's because Laurie53 wasn't the original poster with the £100.0 OD ?

  Forum Editor 09:06 08 Mar 2008

Thank you - I was right when I said 'something doesn't make sense here' - it was my entire post.

I forgot to engage brain, or even note the name of the poster before typing. My apologies to both barca1 and Laurie53.

Who's that laughing at the back of the class?

This thread is now locked and can not be replied to.

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