Bank Charges

[koster]

I'd like to claim back my bank charges from HSBC, but as today's newspapers are reporting, they can close the accounts of people who claim.

They're welcome to close my current account if they want (I have another current account with a different bank), but I also have a personal loan with HSBC, and I can't risk that being terminated.

Does anyone have any advice?

[Oneeyedvic]

If you are in breach of your loan (ie you have missed payments) then they can issue you with a default and demand full payment.

If on the other hand you are up to date, then they can't ask for the money back unless you go into default.

[s1walker1]

Go to moneysavingexpert.com Very useful site and there is a template avaliable for you to download to reclaim your charges. He explains everything

[koster]

Yes, I know there are lots of websites about claiming bank charges, and I know how to do it. I also know a loan can be terminated if you miss payments.

However, I am looking for an answer to my specific question: The banks can close current accounts when you claim charges, but can they terminate a loan because of you claiming charges for the current account?

[Oneeyedvic]

No, they can only terminate a loan if you are in breach of your contract (ie in default)

[koster]

Thanks.

[STAH]

Koster.

I work for HSBC, and I know for a fact that we have been inundated with customer requests for a refund of bank charges over the past 6 years.

To my knowledge, the bank has NEVER closed an account for this reason.

I would go for it, you have a 99.99% of them paying up.

Good luck.

Kindly,

STAH

PS The notes from oneeyedvic and s1walker1 are examples of sound advice.