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bank charging me £100 arrangement fee
Former Member
Posts: 1,876,323 The Mix Honorary Guru
Hi, I would really appreciate some advice on this.
I have a graduate account with the HSBC. I went temporarily over my overdraft, for a period of a week or so. I am back in credit and have just checked on my internet banking, and they have said they plan on charging me a £100 arrangement fee for this. Is this the kind of fe I can claim back, or am I just stuck with this? I realise it was my own fault to go over my overdraft, but then, they did let the payments go out rather than just refusing them, so I don't feel like I consented to this arrangement fee!
Thanks in advance
I have a graduate account with the HSBC. I went temporarily over my overdraft, for a period of a week or so. I am back in credit and have just checked on my internet banking, and they have said they plan on charging me a £100 arrangement fee for this. Is this the kind of fe I can claim back, or am I just stuck with this? I realise it was my own fault to go over my overdraft, but then, they did let the payments go out rather than just refusing them, so I don't feel like I consented to this arrangement fee!
Thanks in advance
0
Comments
If you go in and talk to your bank politely explain it was a mistake and you won't let it happen again they'll probably refund it.
Also check the T&Cs of your account £100 is an awful lot!
Whatever they call it, it's still a fine for going overdrawn, and HSBC are the most expensive bank in the business for these charges.
I would suggest you go to your bank and politely ask them to refund it, on the basis that it was a mistake and it only happened once. If they refuse, threaten to transfer your account. If they still refuse, transfer your account.
HSBC are probably one of the poorest performers in the banking sector, and both Halifax and Alliance and Leicester have far better products at the moment. You might want to think about switching banks anyway, have a look at The Money Saving Expert for advice on the best banking products at the minute.
A bank is a service like any other, and if the bank is as poor a performer as HSBC you should move.