HSBC apologises for fees blunder


Pockets of HSBC customers have been paid nearly £100 after the bank sent erroneous letters promising to reduce the fees on its "packaged" accounts.

In a correspondence with one customer, seen by The Telegraph, the bank apologised for suggesting that HSBC Advance current accounts would soon cost £5 instead of £12.95. It stated: "Unfortunately, an incorrect letter was sent to you. We'd like to apologise for this error and confirm your account features." The bank said the fee would remain at £12.95 but did not explain why the error had occurred. Instead, the apology, signed by Ashar Antoine, the head of HSBC Advance, simply said the bank would pay the difference between the two fees for a one-year period – a total of £95.40.

Those affected were older customers who held HSBC Advance packaged accounts, which for £12.95 a month offered benefits including worldwide travel insurance, life insurance and free cash withdrawals abroad. HSBC's rapid, unprompted offer of compensation comes in the aftermath of a clampdown by the City regulator on the way banks treat people who pay for everyday banking.....Read more HERE