Who are HSBC?
HSBC’s UK current accounts are provided by HSBC UK Bank plc, which also runs first direct. Its arranged overdraft is 39.9% EAR variable above any interest-free amount (checked October 2026).
In May 2024 the FCA fined HSBC £6.28 million over how it treated customers in financial difficulty between 2017 and 2018. HSBC paid around £185 million in redress to more than 1.5 million customers.
Can I claim against HSBC?
You could, if any of these sound familiar:
- 01In your overdraft most of every month
- 02Wages in, straight back into the red
- 03Your limit went up while you were maxed out
- 04Charges kept coming, and nobody got in touch
Limit increases count too. Each one was a lending decision, so each can be looked at.
What you could get back
Average overdraft claim£2,0231
Overdraft interestRefunded
Fees and chargesRefunded
Interest on your refundAdded
Missed payment markersRemoved
Refunds usually run from when the bank should have stepped in. If you’re still overdrawn, a refund may reduce what you owe rather than being paid in cash.
Ombudsman decisions about HSBC
Published Financial Ombudsman decisions show how complaints like these are judged. Where a complaint is upheld, it is often only from a certain date or for certain lending. Every complaint is decided on its own facts, so these are examples, not a guide to what you’ll get.
- Upheld
HSBC missed “hardcore borrowing” from July 2022 and raised the limit instead of offering help. It was told to refund interest and charges from July 2022.
Read decision DRN-4699072 - Upheld
An increase to a £4,000 limit in August 2017 was unaffordable. Charges on the balance above £2,000 were to be refunded.
Read decision DRN-4539635
HSBC overdraft questions
Can I claim if I’m still overdrawn?
Yes. If the complaint is upheld, the refund may reduce your balance rather than being paid to you in cash.
Will my overdraft be taken away?
It can be. If a complaint is upheld, the bank may reduce or remove the overdraft and agree an affordable way to repay what’s left.
How long does HSBC have to reply?
Eight weeks. If HSBC hasn’t sent a final response by then, or you’re unhappy with it, the complaint can go to the Financial Ombudsman, normally within six months of the final response.
How far back can I claim?
Usually six years from the lending, or three years from when you realised you had cause to complain, whichever is later. Where an account is still running, the ombudsman has sometimes looked back further.
Complain to HSBC yourself
You don’t need a claims company. You can complain to HSBC directly using its complaints page. If you’re unhappy with the answer, or it hasn’t replied within eight weeks, you can take it to the Financial Ombudsman. Both are free.