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Post by Ben on Jun 27, 2007 18:19:42 GMT
So when I started uni, I got an account with HSBC, which promised a free overdraft, and a year after to get rid of it... business.timesonline.co.uk/tol/business/money/borrowing/article1963602.eceCock-ends. I'm switching mine to Natwest now I think. I'm not happy about that one bit... It was the only reason I took out the overdraft in the first place, I was struggling and I realised that I'd have a year without interest to pay it back. Now they've taken that away... They're gonna lose a shitload of custom over this.
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Post by Stacey on Jun 27, 2007 18:24:51 GMT
Mind you, my dad used to be with HSBC and had nothing but problems. And Nat West are shite, i'd been with them all my life up until about 5 months ago when i finally got around switching. And they made that as difficult as possible for me.
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Post by Dai on Jun 27, 2007 19:06:39 GMT
Just because they said there was an interest-free overdraft it didn't welcome you to go into it. It was more of a safety net. Just because it's there it doesn't mean you should plunge into it. I also got a student account when I started uni and I had no plans to go anywhere near the overdraft.
Like getting a credit card, it's just stupid to spend money you don't have. If you can control your finances then there's no need to worry.
And besides, 10% is TINY compared to a regular overdraft.
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Post by Chloe on Jun 30, 2007 14:09:40 GMT
i've had so many problems with natwest but having said that i've been very grateful for my 3 year post uni interest free overdraft (which disappears next week eek!) thats shocking though. and no-one (unless they're very stupid) plans to go into debt, but with the difficulty i've had getting a graduate job so far i'd really have struggled without it.
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Post by chris88 on Jun 30, 2007 16:05:01 GMT
I'm with Natwest now, and they are absolutely shite. Before you go any further Ben, just don't!
Once I have a job I'm going to change to Alliance and Leicester as they seem to be the best one to go with at the moment.
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Post by Chloe on Jun 30, 2007 16:13:14 GMT
i want to change to co-op but no point doing anything til i'm earning...
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Post by Stacey on Jun 30, 2007 16:18:18 GMT
Don't be surprised if they mess you around when you switch Chris.
I switched to Co-op. Sent a mandate to them so they could transfer everything over from Natwest. Got a letter from Natwest saying they couldn't authorise it until i'd cut up my card and sent it to them, which i did. Then i got another letter saying they couldn't authorise it until i'd cut up my cheque book and sent it to them (they couldn't tell me this in the letter about the card?). By the time all this had been done, my direct debits and standing orders had come out of my account but no money in there to cover them. So i ended up overdrawn, had to go into the bank and pay that off because they wouldn't allow my to transfer some money from my Co-op account.
Right load of messing about. Glad i'm rid of them.
The staff are a right set of miserable sods as well.
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Post by bigospedros on Jun 30, 2007 17:54:53 GMT
Hmmm ... odd decision by HSBC, but you're quite right to look elsewhere. Have a look at www.moneysupermarket.com for suitable products. If you can't get another account with an interest free overdraft, maybe consider putting your overdraft onto a credit card with an interest free period. All depends on how much a credit limit you can get though. Have to say though ... when I recently changed my supplier for my Bills Account, I didn't use the switching service. Not sure I'd trust a bank to get all the timings right. I planned it out and did it myself, without a hitch
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Post by Stacey on Jun 30, 2007 19:27:19 GMT
Well i authorised the switch the day after my last direct debit/standing order came out for the month. There was then 3 weeks before anything else was due to come out. It should only have taken 5 working days but Natwest held it up by 3 weeks.
I'm just glad they didn't have the nerve to try and convince me not to switch when i went in to sort out the overdraft. Though to be honest the look on my face probably put them off...i was not in the mood to be messed with that day.
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Post by Clare on Jul 1, 2007 15:20:22 GMT
I used to work for HSBC before they made me redundant. I still bank with them, I don't know why I never got around to switching.
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Post by Ath on Jul 11, 2007 12:25:30 GMT
HSBC are knobs.
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Post by manoverboard on Jul 11, 2007 22:25:26 GMT
I'm with Natwest now, and they are absolutely shite. Before you go any further Ben, just don't! I've been with Natwest for years and I haven't had a problem. :/
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