HSBC informal overdraft irresponsible lending

[superlite]

Re: HSBC informal overdraft irresponsible lending

yes wales but if you are depositing between £10-£100 at a time and expect a message saying 'Your bank has declined this transaction' if you don't have the money in your account then you wouldn't think anything when you are on the site. I do not check my account daily and I was expecting a large payment around that time.
I suppose I will end up writing off the £150 charges but it's a shame as I personally don't like banks or extortionate charges.
I once had a payment going out and because there was not enough money the bank charged me £25 and I almost blew a gasket - it's not the money, it's the principle. So I tend to avoid banks.

[jon1965]

Re: HSBC informal overdraft irresponsible lending

Superlite
I think that they have just seen an opportunity to screw you for charges. Santander told me some cock n bull story about floor limits and not having to check, but in 8 years they had never let me go overdrawn. I think you have a legitimate complaint if you have not upgraded your account or anything like that.

I understand that you do not believe you have any issues with gambling and that someday you want to make a living from it. Well all I will warn is that generally it is only the bookies, casino owners and website owners who make the money. There are very few professional gamblers , and I believe most of them play cards.
I can not make you believe or think you have any issues, only you can do that , I was just commenting from how it read.
I only posted because I do care about people, whoever they are

If you do have a problem, the type of gambling really doesn't matter. It's a bit like an alcoholic looking down on the person on cheap cider because they only drink a bottle of finest malt every day

[wales01man]

Re: HSBC informal overdraft irresponsible lending

i dont like banks and they dont like me they keep getting companies to chase me for money the only account i have is a cash card ive had for 3o years cant go overdrawn every time ive had a bank accoubt for business use a recession came along and businesses failed so i have no money to repay them?

[FlamingParrot]

Re: HSBC informal overdraft irresponsible lending

Just read this from Amethyst's thread:

In any event the vast majority of account holders opt not to use the service of consideration anyway. The OFT PCA Market Study puts the figure at some 80%. Of the remaining 20% who do use it - unknowingly, unwillingly or otherwise - only a very small proportion actually want it. A large poll conducted by MoneySavingExpert of 5952 people found that 92% of people would prefer a payment instruction to be refused without charge than for it to be considered for payment for a fee

I totally agree with this! If you haven't got enough funds either from your own money or an arranged O/D you know all about, then it's preferable to have the transaction declined! Banks don't honour transactions to do you a favour, they do it to be able to charge you £25 a pop! But it gets worse: they often charge you that amount to send you a letter to inform you they had declined a transaction!!!:scared: :rant: :rant:

yes wales but if you are depositing between £10-£100 at a time and expect a message saying 'Your bank has declined this transaction' if you don't have the money in your account then you wouldn't think anything when you are on the site. I do not check my account daily and I was expecting a large payment around that time.
I suppose I will end up writing off the £150 charges but it's a shame as I personally don't like banks or extortionate charges.
I once had a payment going out and because there was not enough money the bank charged me £25 and I almost blew a gasket - it's not the money, it's the principle. So I tend to avoid banks.

I've had that experience a few times, first with Barcraps, later with the A&L now Satan's Den! The banks charge you to honour the transaction and charge you to reject it! :mad2: :mad2: :mad2:

i dont like banks and they dont like me ?

That makes at least two of us!:thumb:

ithey keep getting companies to chase me for money the only account i have is a cash card ive had for 3o years cant go overdrawn every time ive had a bank accoubt for business use a recession came along and businesses failed so i have no money to repay them?

The recession came along because of the global economic meltdown caused by the banks! Millions lost their jobs and/or their businesses but the big bad banks got bailed out and swiftly went back to paying ob$cene bonu$e$ while the rest of the world struggle! :rant: :rant: :rant: :mad2: :mad2:

[FlamingParrot]

Re: HSBC informal overdraft irresponsible lending

Barcraps have also done something similar with my business account: I haven't got an arranged O/D but when there was no money going in as a result of the financial crisis in which they played an active part, they were still adding all sorts of charges, including £21/month for 'business essential', whatever that is, which I never agreed to or even knew about! As a result of their charges and interest on charges, the account at some point was overdrawn with nearly £400 despite no arrange O/D. As I still use that account, as soon as I had money going in it disappeared down that black hole. :mad2: :mad2:

[MissFM]

Re: HSBC informal overdraft irresponsible lending

Coming to this late - and at risk of being both annoying and irrelevant - when you say "guardian", do you mean "guardian ad litem" - ie is this a formal (legal) arrangement because you are recognized to need protection due to a particular vulnerability?

[MissFM]

Re: HSBC informal overdraft irresponsible lending

If you are, for example, under the Court of Protection or in some other kind of legal Guardianship then IMHO the bank should be dealing with your guardian, not you, and does have some serious questions to answer. You don't say above (or if you do I missed it, sorry) are you a minor?

[labman]

Re: HSBC informal overdraft irresponsible lending

If you are, for example, under the Court of Protection or in some other kind of legal Guardianship then IMHO the bank should be dealing with your guardian, not you, and does have some serious questions to answer. You don't say above (or if you do I missed it, sorry) are you a minor?

Post 14 would suggest it's an informal arrangement with a family member. Superlite, I hope you don't mind my asking, but you have hinted at some significant personal issues during your posts. Are you receiving any formal support? Do you feel you need formal support?

[MissFM]

Re: HSBC informal overdraft irresponsible lending

[QUOTE=labman;312069]Post 14 would suggest it's an informal arrangement with a family member.[/QUOT

Not so sure ..superlite would appear to have a fairly realistic insight into his situation?

"Perhaps it's due to me being quite disassociated from reality and memory problems means she is willing to help me."


It makes quite a difference to the financial responsibilities re the bank.

[labman]

Re: HSBC informal overdraft irresponsible lending

I couldn't agree more, hence my questions.

[superlite]

Re: HSBC informal overdraft irresponsible lending

Thanks for all the discussion here guys, I wasn't expecting such a quick response so it's much appreciated.

I myself believe I am a vunerable person in certain aspects and thus prefer to have somebody else deal with certain things because they have greater understanding.

It is an arrangement with a family member, not legally binding or anything but out of convenience. I am 25, not a minor.

Thanks for your concerns but I believe I am ok, sport forms a very large part of what interests me, it's only natural that risking money on it would also interest me. I think my connection to gambling is different to yours jon, whereas you played fruit machines which seems to lack any method or opportunity to me, including any interest, I bet on sports which interest me and requires some skill and patience to do well. When I don't have money to gamble with I don't gamble. I haven't gambled since these charges have appeared and don't intend to until I have found a new job as I don't spend my savings on gambling.

I play a lot of sport and make sure I have enough money dedicated to pay for it. I am currently trying to get a job which is in line with my interest but if not I will be leaving the country in the summer to work abroad in which the company I gamble with is unavailable to me and I am not bothered.

I will be calling them soon and will update with what happens. This looks like a case of irresponsible lending based on the information they had and my belief I could not go overdrawn. Thanks labman for the lending code which I am looking through now so I can find a quote or two to help my case.
As for this that you said The bank cannot be blamed for you spending money on gambling you do not have. You are lucky they capped it at £500.00. I would suggest the bank can be blamed for providing me money I do not have given I have no agreement for them to as suggested by the account I hold with them. I can understand them authorising a direct debit for a phone bill and charging for the service to do so but authorising gambling deposits without regular payments coming in to cover it seems ludicrous, when they regularly refused smaller amounts of £10-£20 when account reached £0. The £500 was requested in increments which is probably why the £25 charge applied multiple times, but 5x£100 deposits should not equal 5x£25 as far as I am aware.

I am not attempting to get the £500 back only the charges applied to it.

[superlite]

Re: HSBC informal overdraft irresponsible lending

I have just signed on to internet banking and unfortunately the company I worked for made the payment today, so instead of £250 debt I now have over £300 credit which I think makes it harder for me to get the charges back but I am calling to complain anyway.

[superlite]

Re: HSBC informal overdraft irresponsible lending

and an extra cherry on top (kick in the nuts):

Informal overdraft arrangement	2	50.00
Debit interest		3.50
Total to be deducted on 17 Feb 2013		53.50

I am getting very angry now. Totalling over £200 of charges now.

[FlamingParrot]

Re: HSBC informal overdraft irresponsible lending

There's some info regarding unauthorized overdrafts here ---> http://www.legalbeagles.info/forums/...144#post312144

[labman]

Re: HSBC informal overdraft irresponsible lending

What sort of account do you have - is it a basic current account (you'd have had to specifically ask for a basic account on opening it), or a normal current account with no agreed overdraft facility?