HSBC Bank Statements- look out for FGN Charge

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hertsblue

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20 Feb 2008
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Just a heads up if you bank with Hsbc

Just had a statement through from HSBC and it now has a £6 monthly charge on it, and just says FGN Payment limit.

Did a google search and found this:

For those of you who bank with HSBC as your business bank account provider, you may be a little confused about a new £6.00 charge that has shown up on your statement titled ‘FGN Payment Limit‘.

This charge comes under ‘additional services’ within your monthly statement, and is probably something that would simply be missed by most people.

On contacting HSBC, it seems that the charge is there for a service that allows you to send money to international bank accounts via your Business Banking service. So what if don’t need to send money to international bank accounts, and therefore the FGN Payment Limit doesn’t apply to you? Well, simply phone them up and it can be turned off…

We would recommend doing this as soon as you get your statement however, to ensure that the charge is waived and you don’t end up paying for something that you don’t need (and didn’t ask for…!)


I rang HSBC and told them i do not make any international payments and they have now removed it and refunded me.
Worth looking on other bank statements also incase its some sort of new regulation and they all add it.
 
hertsblue said:
Just a heads up if you bank with Hsbc

Just had a statement through from HSBC and it now has a £6 monthly charge on it, and just says FGN Payment limit.

Did a google search and found this:

For those of you who bank with HSBC as your business bank account provider, you may be a little confused about a new £6.00 charge that has shown up on your statement titled ‘FGN Payment Limit‘.

This charge comes under ‘additional services’ within your monthly statement, and is probably something that would simply be missed by most people.

On contacting HSBC, it seems that the charge is there for a service that allows you to send money to international bank accounts via your Business Banking service. So what if don’t need to send money to international bank accounts, and therefore the FGN Payment Limit doesn’t apply to you? Well, simply phone them up and it can be turned off…

We would recommend doing this as soon as you get your statement however, to ensure that the charge is waived and you don’t end up paying for something that you don’t need (and didn’t ask for…!)


I rang HSBC and told them i do not make any international payments and they have now removed it and refunded me.
Worth looking on other bank statements also incase its some sort of new regulation and they all add it.
Click to expand...

Crafty fookers.. Great spot. As you say many people won't notice or check. Amazes me though they can add a product you didn't request.
 
That bank has also been named and shamed by the Senate as being used for money laundering.

Banking eh?! Cor blimey.

Forgive the pun, but they all need bringing to account.
 
hertsblue said:
Just a heads up if you bank with Hsbc

Just had a statement through from HSBC and it now has a £6 monthly charge on it, and just says FGN Payment limit.

Did a google search and found this:

For those of you who bank with HSBC as your business bank account provider, you may be a little confused about a new £6.00 charge that has shown up on your statement titled ‘FGN Payment Limit‘.

This charge comes under ‘additional services’ within your monthly statement, and is probably something that would simply be missed by most people.

On contacting HSBC, it seems that the charge is there for a service that allows you to send money to international bank accounts via your Business Banking service. So what if don’t need to send money to international bank accounts, and therefore the FGN Payment Limit doesn’t apply to you? Well, simply phone them up and it can be turned off…

We would recommend doing this as soon as you get your statement however, to ensure that the charge is waived and you don’t end up paying for something that you don’t need (and didn’t ask for…!)


I rang HSBC and told them i do not make any international payments and they have now removed it and refunded me.
Worth looking on other bank statements also incase its some sort of new regulation and they all add it.
Click to expand...

Is it just business banking or personal banking too?
 
Not sure. I only use HSBC for my business banking as there is a branch just up the road from me at work, but i dont know if this applies also to personal banking but its worth checking all your next statements just to be sure. Even though personal banking i am with Barclays, i will check that statement also.

I just check everything these days to be safe, things like bank statements, council tax (esp if you live alone to ensure you have single person discount), check online banking 2-3 times a week etc.
 
Bank in covertly ripping its customers off shocker!

Billions in Drugs money evidently not enough and it would appear that you the customer will now be fleeced that little bit more in order to pay the ensuing fines.
 
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