HSBC Customers Will Not Receive Refund on Overdrafts
Jason Walsh, an HSBC customer, is just one in a million of the bank branches customers hoping for a refund from the bank whose hopes were thwarted when a Supreme Court ruled yesterday against the refunds. Mr. Walsh, a father of two, had paid his bank penalties to HSBC for the amount of £2,800 after frequently overdrawing his bank account over the course of two years.
He said that he was generally a poor banking customer, and just did not check to see what is account activity was, and did not realize that his account was being charged £25 for direct debit charges and £150 when he was over his limit.
But the 39 year old Mr. Walsh, from Norwich, expressed his frustration with HSBC’s rejection of his application to extend his overdraft limit which would allow him time to manage his finances better without the repercussions of additional penalties.
He continued to whine stating that he should not have gotten off scot-free, however he would have thought the bank would have dealt with his account and financial issues in a more delicate manner. He argued that the steep cost only furthers to debilitate those who are already in financial crisis.
Walsh added that over the last two years, and with the economic downturn, his family has been suffering tremendous financial hardship, and he believes that many others are in the same position during these times. He again vented his frustration with the bank’s inability to be compassionate and their aggressive stance on the issue.
The Supreme Court ruled in favor of the HSBC yesterday, making it now impossible for any of the customers seeking damages to receive refunds.
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