Guidance
Retail Banking unarranged overdraft alerts: Directions to HSBC
Directions issued to HSBC about rules on providing alerts to customers on unarranged overdraft charges.
Documents
Details
HSBC has breached Part 6 of the Order by failing to provide Alerts to customers before those customers received charges in relation to unarranged overdrafts.
In total, the 2 breaches affected around 115,000 customers and HSBC will be repaying around 拢8 million in charges to affected customers. Some of the breaches have lasted since this part of the Order came into force in February 2018.
News story: HSBC and Santander to refund customers after CMA action
Updates to this page
Published 29 November 2019