Overdraft Service

From the 17 November we introduced some new text alerts to let you know when you go into or are due to go into your arranged overdraft. These new alerts aim to help you manage your balance and will give you an opportunity to avoid any overdraft charges.

We'll now send you texts when you have entered or are due to enter any interest free amount, your arranged overdraft or your unarranged overdraft. We’ll also send you alerts to remind you when an overdraft limit is due to expire, or to ask you to pay in covering funds to make sure a payment is made.

If you don't provide your mobile number, or let us know you've changed it, we won't be able to send them and you may incur avoidable charges. 

All customers will automatically receive arranged overdraft alerts. You can opt out of arranged or unarranged overdraft alerts at any time by sending a secure message in online banking, starting a live chat, calling us or visiting a branch. These alerts are designed to keep you up to date with your overdraft status, if you opt out you may find yourself incurring avoidable charges. If you choose to opt out of text alerts, this will apply to all personal current accounts you hold with HSBC.

You can check what your overdraft limit is at any time by logging into your online banking or into the mobile app.

You will be able to find out what your overdraft rate is by looking at your most recent current account statement.

An arranged overdraft is where we agree an overdraft limit with you.

An unarranged overdraft is when you make a payment that takes your account overdrawn without an arranged overdraft in place, or over your arranged limit.

An overdraft could give you peace of mind by allowing you to make payments when you have run out of money in your account.

It means with an overdraft it can help you through expensive months like December, or paying unexpected costs such as an emergency plumber.

If you arrange a formal overdraft and keep within your limit it can help you prepare for life's unexpected costs. 

To try to help you avoid Overdraft fees, we will send you Overdraft text alerts if we've agreed an informal overdraft on your account. We will also send you a text alert if there isn't sufficient cleared funds available, in your account, to make a payment. You can opt out of receiving these text messages by calling us.

There are also several other ways you can keep an eye on where your balance is in relation to your overdraft limit:

You can get text message alerts sent to your mobile at no extra cost to let you know you when you’re nearing your limit – you can set these up via online banking or by calling us on 03456 00 61 61 (your carrier may charge for text alerts).

The HSBC Mobile Banking app lets you manage your personal accounts easily and securely from your mobile phone.

You can use HSBC cash machines, which will warn you if you try to make a withdrawal that might result in you being charged. You can use Internet banking to view balances, statements and payment details - plus increase (subject to status), decrease or cancel your overdraft limit. Or you can ring us on 03456 00 61 61 any time of the day or night to check your balance using our automated service.

An informal request is when you authorise a payment that would take your account overdrawn or beyond your formal limit without agreeing in advance an overdraft to cover it.

We will always consider an informal request and will make the payment if we can, subject to status. If approved the overdraft will be provided for 31 days to cover the item concerned.