I am so annoyed with HSBC!! I've been a good customer of theirs for probably about 10 years. In my current account, I only have a £100 overdraft. My account has been well in credit since October 2007 (when I last used the overdraft). Today, I logged onto internet banking to see that I had £25 taken out by HSBC for an "overdraft arrangement fee". I had absolutely no idea what it was for, so I telephoned their customer services to find out. It transpires that I had been sent a letter (that I never received) that 'reviewed my overdraft because it had expired'. Apparently, because I never responded (well, why would I? I didn't receive the blasted letter!!) they took it as an acceptance and promptly withdrew my £25. So I asked what date the letter was sent (I am quite pedantic about filing absolutely everything). The date was 26th December 2007. Wait -- so I was sent a letter on Boxing Day?! What conscientious HSBC employees ... working on a BANK holiday. And that is not all. I was apparently sent a letter confirming my acceptance (by silence) of the new overdraft. The date of that? 30th January 2008 ... which would be today ... which would kinda suggest I haven't received that either. I told customer services that I would like the £25 fee reversed as it was disgusting that money could be taken out without my consent. I was asked whether I would like to keep my overdraft. I said yes. I was told that if I wanted the overdraft, the £25 fee would stand. However I could choose not have an overdraft facility and they would reverse the £25. I panicked and agreed to the £25. In retrospect, I wish I had told them to stuff their poxy overdraft, and set up a new account with an alternative bank for next month. Does anyone have any suggestions on what would be a good move now?
Take your money elsewhere. Or at least threaten to. One of two things will happen: They will panic and kiss your ass and you will ride them like a pony or: they will have decided you aren't a profitable customer and will let you take your money elsewhere. I'd say it is 70% likely they'll panic and kiss your ass. Call up and when they ask "how can I help you?" say "I want to cancel my account." I'll bet they'll transfer you to sales and someone will try to keep you as a customer. Have a list of demands ready and see how far you can make them jump through hoops. Make sure you sound pissed off/disgusted through the whole conversation. Not openly hostile, just like you're dealing with someone who has really bad body odor. And when the call wraps up and they say whatever pleasantry they say, either just hang up or say something like "Yeah, whatever. "
^ Sounds good. Their loyalty to you has already been shown. Show that yours can't be taken for granted. Luckily, we get free overdraft protection here.
Don't, whatever you do, switch to Abbey... Let's be honest, all the major banks are as bad as each other.
GBP 25 for a GBP 100 overdraft? I don't think so! I've heard good things about Alliance and Leicester. Credit Unions in the UK aren't too impressive. They only started offering debit cards at the end of 2006.
