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Hidden HSBC £150 monthly overdraft fee limit - MoneySavingExpert News
HSBC customers may have the right to refunds if hit with more than £150 in monthly bank charges over the past seven years.
That's because the banking giant has a little-known clause that caps fees at that level every month.
Although introduced by HSBC in 2002 as part of its ‘Fair Fees’ policy, it has largely been kept from account holders as it is not included in terms or conditions or on its website. The refunds principle should apply to all overdraft charges since then.
HSBC customers should check to ensure that they haven’t overpaid. If you think you’ve been overcharged, call customer services on 08457 404 404 to reclaim the cash.
James Thorpe, HSBC spokesperson, says: "It's not something we are trying to hide away from.
"We can choose to amend it if necessary, but we have no plans to. For us, we’re very happy to talk about it – nobody should ever be charged more than that, and if they have, they should get in touch with us."
HSBC customers may have the right to refunds if hit with more than £150 in monthly bank charges over the past seven years.
That's because the banking giant has a little-known clause that caps fees at that level every month.
Although introduced by HSBC in 2002 as part of its ‘Fair Fees’ policy, it has largely been kept from account holders as it is not included in terms or conditions or on its website. The refunds principle should apply to all overdraft charges since then.
HSBC customers should check to ensure that they haven’t overpaid. If you think you’ve been overcharged, call customer services on 08457 404 404 to reclaim the cash.
James Thorpe, HSBC spokesperson, says: "It's not something we are trying to hide away from.
"We can choose to amend it if necessary, but we have no plans to. For us, we’re very happy to talk about it – nobody should ever be charged more than that, and if they have, they should get in touch with us."
