HSBC and Santander are to refund millions of pounds to customers for failing to alert hundreds of thousands of account holders that they had gone into an unauthorised overdraft. MARTIN Lewis' MoneySavingExpert has urged HSBC, First Direct and M&S Bank customers to look out for cheques worth £100s. The reason I ask is that redirect from Post Office expires in September. HSBC said it would refund … Some banks will charge you multiple times a day. Our Overdraft Service is available on HSBC Premier, Advance, Bank Account, Bank Account Pay Monthly, Graduate, Gap Year and Student Bank Accounts (over 18s only). Our Overdraft Service is not available on Basic Bank Account. When it happens, the bank assigns you its overdraft fee. HSBC … HSBC said it would refund … But HSBC twice breached these rules and will now refund £8m (including interest) to … Overdraft charges are costs incurred for using an unarranged overdraft. If you want to do this, please contact us before ® ... charges Current charges New charges HSBC Jade 9.9% EAR variable 39.9% EAR variable £2,000 £20 HSBC Premier Bank Account 11.9% EAR variable £500 HSBC Advance Bank Account 17.9% EAR variable £5 daily usage fee … For example, if you went overdrawn £1 and were charged £35. Image: HSBC will have to refund customers a total of £8m This meant that if customers went into an unarranged overdraft between 10.45pm and … payment or overdraft charges. We apologise to those customers who, for different reasons, did not receive an alert. We will continue contacting customers who incurred overdraft charges as a result of these issues to apologise and provide a refund.” This might happen if the charges keep putting you into the red, and the overdraft keeps costing you more in charges. Now should we inform HSBC of our current address because they were forwarded from our previous one? The Competition and Market Authority said they broke rules by not sending text messages allowing people to avoid unarranged overdraft charges. If you're lucky, the bank only charges you when you fall below -$5.00. All requests for an HSBC overdraft are subject to your credit status and all overdrafts are repayable on demand. Overdraft fees happen when your bank balance falls below zero. The cheques are … How to Get an Overdraft Fee Refund. We will continue contacting customers who incurred overdraft charges as a result of these issues to apologise and provide a refund.” HSBC said the … Question: My wife received a couple of cheques (1 in Jan and 1 in Feb) from HSBC apologising how she was dealt with back in, yes, 2008. Since February 2018, banks have been legally required to send customers text alerts before charging them for going into an unarranged overdraft, giving them a chance to act and avoid charges. The charges are unfair compared to what you did. 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