MSE News: Got an HSBC personal loan? You could be due share of Ј218 million in refund

A question about : MSE News: Got an HSBC personal loan? You could be due share of Ј218 million in refund

HSBC has set aside nearly Ј218 million to refund the interest paid by some 'fixed sum unsecured loan' customers...

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Got an HSBC personal loan? You could be due share of Ј218 million in refunds

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• Hi, i have had 2 loans from HSBC under their Fixed-Sum loan agreement in Aug 2007 and July 2005. I have moved abroad and my contact details my HSBC account is now dormant. I have the paperwork for both loans, should I contact HSBC? Thanks
• In these cases the bank will normally contact customers. Give them a few months at least and then look here to see if people have started to say that they have been contacted. If you aren't contacted yourself then, get in touch with them.
  Best not to contact them directly yet. They will still be working through the process of setting things up and you just might get unnecessary hassle from people who don't yet know what's happening.
• Great, thanks for the advice
• Will HSBC professional studies loan which was unsecured personal loans also be refunded interest
• I dont think this applies, but HSBC taken over Endeavour Personal Finance (EPF) a few years ago from what I am aware of, so wonder if this will apply to EPF as such as well? not that they were mentioned......
  Edited, saying that, this just goes for personal loans, so maybe not then lol..
• Ј218m sounds like it could potentially be an awful lot of people depending on the number of years this went on for. I've got a loan from First Direct, so here's hoping the problem extends there as well.
• I did have a loan which I have now repaid. Will I still be entitled to a refund?
• Whether the loan is repaid or ongoing makes no difference.
  If your loan was one of the affected ones that had an issue with the statements sent to you then yes you would get a refund of some interest.
• Have banked with them for 25 years so would be nice to get a little back from them - have had quite a few loans over that time from them so here's hoping.
• How do they calculate what you're owed and how far do they go back on these things? I presume it's all loans after 2008 as that is when this bit of legislation came into affect?
  Would someone potentially get back all of their interest if there is no mention at all of over payments on any paperwork?
  and is there any way of telling whether our loan would qualify for this?
  Guess I am going to have to wait and see if they contact us so trying not to get hopeful!
• Hi, has anyone had any updates on this story?
  I have a current loan where the relevant details as discussed have been ommited from my yearly statements.
  Hopefully will be due a refund too, but guess should'nt count on it eh!!
• I'm guessing by the lack of activity and mentions on the thread that there haven't been any of these letters sent out yet. I'm sure some happy soul will break the news fairly quickly once they have received a compensation letter!
• Hi, We left the H.S.B.C bank about 2 years ago we tried to get ppi back on a morgage account we took out with them for about 12 yrs also a loan taken out for a conservatory we had at the same time It was Ј14.95 per month on both for ppi but we were told we were not due anything. Why did we have to pay Ј14.95 on both accounts. I went into the bank and complained and there was nothing of the evidence on their computers of our accounts.But when I complained in writing I gave them the dates it was taken from our account.Is their anything we can do. please.We also have had card protection with the H.S.B.C. can we claim for that. We have only just this week stopped paying for the card protection.
  Kind regards santradave.
• Hi Sandra,
  If you head over to the reclaim PPI and other Insurance board I'm sure some of the guys there will have more experience, and if you have any more details about your policy I'm sure they could offer some sage advice.
  I'd also advise you to delete your last post, as I know that personally I wouldn't like to have my name and address visible on a public forum.
  Good luck.
• I emailed them via the online banking system and they have responded to say they know of no issues and they don't know what I am talking about.
  I guess the pyramid is the shape it is for a reason