HSBC Overdraft Stipulations??

Question

Hi, I've recently turned 18, and want to get an overdraft.

I've rang HSBC and the representative I spoke to informed me that I have to go into the bank in order to sort it all out.

However, I don't want to go in and enquire and have a wasted journey because I'm not elidgable.

So could somebody tell me, everything I need to have/ do to get one?

And also how long it takes to set up.

Many thanks :)

Answer 1

You have to go into the branch to be identified.

Would you want someone to obtain an overdraft on your account that was not infact you. If your account is in order and you have funds going into your account it should be no problem, just go in and talk to them

Answer 2

One of the things they will want is to see money coming into your account every month for 6 months - like your salary or something.

Answer 3

If the call centre are telling you to go to the branch then you haven't automatically qualified for an overdraft and further questions or information are needed.

Are you working? Is your salary paid directly to the account? What type of acount do you have? Are you a student?

Importantly, do you actually need an overdraft?

Overdrafts are borrowing and the bank expects to be paid back.

Half hour meeting at the branch will either get you an overdraft or a clear explanation as to why you can't have one.

Alternatively call back on phone and ask them to do an application for you and give you an answer, they have the same lending authorities that branches have.

Answer 4

This is my experience with the bank i work in, The client has to open the account and then after 6 MONTHS you will be allowed an overdraft depending on how your accoutn was ran in the past 6 months. example if you are overdrawn alot of times they most probly will refuse you the overdraft.

Also if they cannot do it over the phone usually you do need to go into the branch, if you dont want to do this then ring them back up and ask for an application form to be sent out for it. At the end of the day you go in to fill out the application so in the post wont be much difference, if they say no the KICK OFF AT THEM lol!!  

Answer 5

Generally you must have an account with them for a certain period of time and the account must be in good standing. Plus you must have a good credit score. You will need to go in with ID and sign up for it if they did not put you on it automatically.