Friend is about to go overdrawn on her HSBC account - any advice? - HotUKDeals
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Friend is about to go overdrawn on her HSBC account - any advice?

TGB Avatar
8y, 3m agoPosted 8 years, 3 months ago
Evening all,

I have a friend with £20 or so in her HSBC regular account and apparently o2 are going to take £26 for her phonebill out tomorrow.

She tells me she's gone below £0 by a couple of quid before and HSBC said if it happens again she'll get charged.

Apparently there's no overdraft on her account (I get £100 or so)

She'd like to know what kind of charge there'd be, how much? Is there any way around it?

Cheers crew, rep awaits.
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TGB Avatar
8y, 3m agoPosted 8 years, 3 months ago
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#1
Shut your eyes and take it like a man, no, woman, no. Anyway sometimes a financial lesson can be hard, buy your friend will hopefully try to leave a reserve next time.
#2
you could be a good friend and do a direct bank transfer of a few pound into her acct, i think most banks now do it instantly
#3
onlyme23
you could be a good friend and do a direct bank transfer of a few pound into her acct, i think most banks now do it instantly


Considering doing this - I know where she lives so shouldn't be a problem getting it back. :thumbsup:
[helper]#4
Can she ring them out of hours and get a £100 overdraft put on immediately? I was able to do this with my bank.
#5
It's a bit late to do this for your friend, but get an overdraft facility (I've got an HSBC one) and if you go slightly overdrawn the charge is minimal
#6
TGB
Considering doing this - I know where she lives so shouldn't be a problem getting it back. :thumbsup:


if its the sake of her owing you less than a tenner, compared to the prolly £30ish pound overdrawn fee it a much better option!

not to mention the effect it would have on her credit rating
#7
castortroy
Shut your eyes and take it like a man, no, woman, no. Anyway sometimes a financial lesson can be hard, buy your friend will hopefully try to leave a reserve next time.


Yeah I'm sure she realises this - she's had a lot of changes in her life lately, moved into a new place, new job, etc. and is a student to boot! So she's not exactly in a great financial position until the end of the month.

Personally I'd never let an account go anywhere near the £0 mark, I'd cut back to 1 slice of toast in the morning if it got anywhere near a hundred.
#8
If she'd thought about it earlier she could have gone in and cancelled the d/d in the bank.........in fact has she got internet banking, tell her to try cancelling it on there, then they can't take it. Failing this as long as she has the cash in the bank by 2.30 tomorrow there will be no charge,
#9
probably too late to cancel the dd? as i was told once they pull at the money a few days i advance? might be wrong!
#10
Transferred instantly from my account to hers! :)

Been a good friend - cheers for the advice all!
#11
No you are ok to cancel the d/d in the bank the day before.
I work for one ;-)
#12
ok my info is prob out of date by years lol
#13
Another avenue to pursue, in future, would be to get one of these newfangled pre paid credit cards to avoid direct debits affecting your main account. Try here .. [url]www.moneysupermarket.com/cards/prepaid-cards-guide1.asp[/url] (Sorry I don't know how to insert hyperlinks)
#14
Hey , what do you know, it did it on it's own!
#15
loupomm
ok my info is prob out of date by years lol


No worries......things change constantly in the bank, like the fact you can actually pay money in on the same day and you won't be charged, that only came into place in May................but the charges remain the same unfortunately. £30-£38 depending on the bank for a unpaid Direct Debit.....not a good lesson to learn so you have saved your friend a lot of money. Me thinks she owe you a drink :thumbsup:
#16
She would of gotten charged about £10 - £20. Sometimes you get a person from another country phoning about why there isnt any money in your account and when will there be
#17
katelina
No worries......things change constantly in the bank, like the fact you can actually pay money in on the same day and you won't be charged, that only came into place in May................but the charges remain the same unfortunately. £30-£38 depending on the bank for a unpaid Direct Debit.....not a good lesson to learn so you have saved your friend a lot of money. Me thinks she owe you a drink :thumbsup:


Not sure when it was but I screwed up with a DD from my nationwide account, the money went in the same day but they had already refused the DD and later charged me £30 for the privalage!

grumble grumble
#18
HSBC automatically give everyone a £10 buffer zone, basically an overdraft but you don't pay interest for going into it nor get charged
#19
maybe she should learn not to spend money she doesn't have. This will hopefully be a lesson on that. Harsh but true
#20
autolesbona
maybe she should learn not to spend money she doesn't have. This will hopefully be a lesson on that. Harsh but true


I think 99.9999999999999% of the country live off of money we don't have in some way i.e. Credit cards, mortgages, Car finance, overdrafts, loans etc

If we all had to live off of the money we had i.e. not borrow any the country would just stop running
#21
Glad to hear you sorted your friend out! I once went overdrawn on my Halifax cashcard account (no overdraft) when my Barclaycard direct debit bounced. Both Halifax and Barclaycard charged me but I got it all refunded in the end. I just threatened them with closing my accounts and they usually pass me on to retentions who agree to waive the fees as a gesture of goodwill. They always tell me it's a one-off and can't refund any future fees, whether that's true or not I don't know as it's never happened again (touch wood).
#22
flyingflea
Glad to hear you sorted your friend out! I once went overdrawn on my Halifax cashcard account (no overdraft) when my Barclaycard direct debit bounced. Both Halifax and Barclaycard charged me but I got it all refunded in the end. I just threatened them with closing my accounts and they usually pass me on to retentions who agree to waive the fees as a gesture of goodwill. They always tell me it's a one-off and can't refund any future fees, whether that's true or not I don't know as it's never happened again (touch wood).


Banks will give you one, maybe two refunds per year. However if you have been charged and it's the banks error you will be able to get a refund. :thumbsup:
#23
I remember why the Direct Debit bounced now. I put a cheque in and hoped it would clear before Barclaycard took their money from my account. I love how cheques still take up to 5 bank working days even in this day in age... oh and are the bank computers having a rest over the weekend?! Come on!! The only reason they do this is so that they can earn billions in interest a year.

I thought things were bad here... in the US it is common to charge people to have bank accounts and interest rates for savings accounts is 0.6% on average!

Sorry, had to get that off my chest!

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