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“I managed to get the whole £1000 overdraft with them,...”

Written on: 20/04/2007 by lomas8 (1 review written)

Good Points
Low charges

Bad Points
Not very helpful

General Comments
I managed to get the whole £1000 overdraft with them, which was great, but last term I got into some financial difficulties. I went into a branch to ask if I could have a temporary overdraft extension.



HSBC told me that as I hold a student account they cannot extend my overdraft until the next year. They also said that when I get my loan into my account it does not stay in there long enough for me to build a good credit rating. They did not seem to understand that my loan only covers my accommodation fees, and they have to be paid as soon as I get my loan. Instead, they told me that they can set up a payment plan for my credit card and my overdraft, but I would have to pay my overdraft off in chunks each month, which wasn't really helping me; it was just making it worse.