HSBC - Your opinions

[Cyclone]

but they helped you out the first time. How many times would you like to get away with it?

 

And seriously, why don't you set up a small overdraft to avoid the situation in the future, even to use for your £60 of xmas presents if you choose.

 

Originally posted by Pauly

Ok Andy...

 

...but when Christmas is only around the corner and you've budgetted for a certain amount of money and that cash is then taken away by the bank for charges then you might hope for a bit of understanding from the bank. It's not like they're desperate to keep hold of your £60 when they've got millions of pounds going backwards and forwards every week.

 

I understand perfectly how to avoid charges but I'd hoped that the bank would help me out on this occasion. Clearly I was mistaken when I hoped that the bank might 'understand'.

 

Anyway, does it make sense to charge someone ridiculous amounts of money, making their situation even worse rather than helping them out and agreeing to talk to them about their problem in order to find a solution. When the bank charges me and then hides behind the desk when I want to discuss it like they did with me then I'm understandably hacked off!

 

 

 

Wait until they demand to reduce that limit Dave.

[TWA756]

Surely these opinions are mostly about the staff at the branch where you have your account. I've banked with HSBC for years and have always found them OK. Staff at my present branch (22 years there) are wonderful and always very helpful - can't praise them enough. Through relatives I've also had to deal with a couple of other banks - Natwest are OK but my experience of LLoyds-TSB has been dreadful - really unprofessional - one of their staff actually advised an elderly relative of mine to give fraudulent information and filled in forms on her behalf but without her permission. We complained very strongly to their head office and received a letter of apology but I don't really feel the matter was dealt with properly. I wouldn't recommend them to my worst enemy.

[Zebra]

I tend to think it comes down to a person to manage their own financial affairs and learn from mistakes.

Either you didn't learn or you have some seriously bad karma, must've done something really bad in a previous life.

Being let off once, fair enough, twice - that's like asking your Mum for your pocket money in advance cos you spent it all already.

[Guest Pauly]

Are you telling me you've never ever made the same mistake twice or had trouble with finances that really couldn't be helped? Just how perfect are you people?

 

If you two (Andy or Cyclone) were in my situation I'm fairly sure you wouldn't be taking the high ground that you appear to be enjoying right now. But then you've both got your money for Christmas haven't you so you feel that it's ok to say what you want. Another two smug g**s.

[Cyclone]

i missed the bit where i was smug.

 

If i was in that situation, (and i have been charged for things in the past, like forgetting to make a credit card payment on time) then i'd either do something to stop it happening again and pay or just accept it. I certainly won't bother complaining about the charges, they are a business, I really don't see what your point is.

 

And I was also trying to make a sensible suggestion to help you avoid the problem in the future by arranging a small overdraft.

 

I'm quite lucky in that I do earn a decent wage, my main money worries are when i'll have enough to decorate the next room and when I can afford to buy a sports car, but it doesn't mean i don't understand the problem.

[timo]

Wendy,

You make a fair point re the "average" national wage figures [my info was from Social Trends]. You are correct to point out that figures can be "massaged", and there are many pitfalls with stats that I would readily acknowledge pertaining to validity etc. Perhaps the "average" [which itself is a nebulous concept] is lower in Sheffield. I'm an ex-pat living on the wrong side of the Pennines, by the way.

[wibbles]

If your that bothered Pauly then take ALL your money out of the bank and rip up your cash cards. Then there's no way you can overdraw and use money that isn't yours to use. To do it once is forgivable, to do it twice is just daft. The charges exist as a deterrent. We all have to face the same consequences as you do. I know if I ever have to overdraw I manage my accounts properly and either budget for it or have the decency to inform the bank at the earliest opportunity (before the overdraft) what may happen. They have to deal with a hell of a lot of other people like yourself who overdraw on a regular basis..like I said..its not your money to use.

If the bank decided to remove money from your account but didn't tell you, you'd be fuming but you don't give the bank the same respect.

[timo]

Wibbles,

I agree that it is down to individual responsibility re managing accounts properly. However, as I have said previously, bank staff so readily offer or point customers in the direction of further products that will in all likelihood increase debt because of the pressure to achieve sales targets of credit cards etc. This is often done [particularly to students] when the customer already has a dangerously unhealthy debit balance in the first place. Perhaps, ultimately the blame for financial mismanagement must lie with the individual [to suggest otherwise is to deny human free will and agency]. However, this tactic, so prevalent in banking, of putting temptation in the way of the already vulnerable does not help matters.

[nick2]

A couple of months ago when I closed my Barclaycard account they asked why I was closing it, I told them I had found a card with a much lower rate of interest, they offered to match that rate if I kept my account open. I did point out that if they had been charging the lower rate I wouldn't have gone looking for another card in the first place. I have noticed that banks do this with loans too, they try to see how much they can charge you and only offer you a better deal if they think you are going to go to another lender. It seems a bit underhanded to not tell people that they can have a better deal and only mention it when you think they are going to leave.

 

So, if you want a lower rate on your Barclaycard just phone up to close the account and see what they offer you.

[wibbles]

Originally posted by timo

However, this tactic, so prevalent in banking, of putting temptation in the way of the already vulnerable does not help matters.

 

That is a fair point. I believe there are steps in place to prevent this sort of tactic. Larger print on applications, warning type statements to let people know that minimum payments will not greatly affect the balance etc etc.

It certainly needs regulation better. Although a credit check is important in processing these applications I find that personal finances aren't taken into account. You should be made to disclose all your outgoings and be set a limit based on the maximum you could pay back a month based on the card balance. Its all very well passing a credit check but if you then max out your card and the monthly payments are too much then your up s**t creek without a paddle.