Help overdrawn!!!!

**robina80** · #1 27th Jun 2008, 18:16

this is to all the UK people really, i went to the cash point today to find my account overdrawn, im overdrawn by £11.00, i luckily put more money in it online just transfered money over from savings.
im with HSBC and ive got a maestro debit card, will happen will they charge me stupid louds of interest or what!!!!!

**robina80** · #2 27th Jun 2008, 18:36

it happened on the 25th june and since then they havnt charged me so am i ok

**Hybr!d** · #3 27th Jun 2008, 23:52

Charges get added at the end of the month, so you won't know until then, unless you call your bank which would make sense.

**ghbnic** · #4 28th Jun 2008, 02:03

if your wiv hsbc internet banking, when you log in, at the top of your accounts page will be a red banner saying 'charges to be applyed to this account' if you got any click the banner and itll tell you how much plus when they will take it.

HSBC normally charge £25 for being OD per item
then £9 for arrangement if it was a direct debit which put you OD.

**robina80** · #5 28th Jun 2008, 03:28

ghbnic i dont get a banner on my online account so i must be clear,
but when you say they charge you £25 per item, do you mean they charge you £25 every pound your over or what?
and £9 they only charge you once yeah?

**Hybr!d** · #6 28th Jun 2008, 03:32

All banks issue charges at the end of the month, they won't show up until they have been processed at the end of the month.

Just ring your bank, problem solved.

**Mike0001** · #7 28th Jun 2008, 08:53

This has been a subject of legal review recently, ie, unjustifiably high charges. Many banks charge for every transaction on an account that is overdrawn in any one month period. You could go over by 1p and end up paying hundreds in charges.

Ring your bank and ask them. There is sometimes a grace period of a day or two, but it depends on the bank. LloydsTSB has removed their grace period recently. I don't know about HSBC.

GMawston · #8 29th Jun 2008, 02:06

I think you are going to be charged. However like the above posts there are legal challenges going on in the back ground. I believe that the first ruling has gone in favour of us the general public but the banks have issued an appeal. The reason that they have done is that it is going to cost them BILLIONS in refunding every person who has had a charge made against them over the last 6 years. My current total for just one bank is just knocking close to £600. You won't be able to claim interest back that you have been charge but the actual £25-30 charge you will.

Gav