I feel totally let down by HSBC. Just switched to Lloyds, they can have my future earning potential. They were brilliant and the advisor was so understanding. Better service than I've ever had with HSBC. The only thing they couldn't help me with was a left handed paying in book =)

Ali, Cheltenham, Gloucestershire

HSBC's recent actions are completely unfair. Perhaps giving a 6 month notice would have been somewhere near reasonable, but the fact of the matter is that most graduates need time to get into a decent paying job - who steam rolls into a career immediately after finals? Furthermore, one could argue that the belief that the interest-free overdraft would remain so for a year after graduating would encourage people to be more lax about spending it anyway...
This sudden change in policy is completely inconsiderate, alienating, and insulting to recent graduate customers. I am certainly moving banks as soon as possible.

Alicia, London,

Brian Vallance, every September the job market is suddenly flushed with recent graduates. I know many people for whom it takes six months to secure a job.

Most jobs require more than one interview, often taking an entire day or more, often with only a 1 in 5 chance of getting the position.

During this time, while graduates are not earning, an overdraft is very useful. In addition, when they signed up for an account with HSBC as undergraduates, they were promised that they would have the free facility. If you want to talk about equity, then you must have clean hands. I don't think going back on a promise like that means you qualify.

Even if it wasn't a promise, I bet the "we can revoke this any time we like" clause was in the small print... something which has long been held to be unfair.

Andrew, Aberystwyth, Wales

I find it amazing that HSBC are talking about the introduction of these fees as if they are doing it in the students best interest, teaching them a lesson about debt. In actual fact, leaving university with over £12,000 worth of debt means we already know a little too much about it. This patronising attempt to camoflage their simple pursuit of profit from us is insulting. I will definitely be switching banks.

Kate Evans, Merthyr Tydfil,

If HSBC and any other major bank believes that students and graduates need education regarding debt, they might spend some time putting the message across during their years at university, as opposed to dropping such a financial bomb on them causing them to panic immediately after their graduation.

In addition, the notion that every graduate does not want to pay their overdraft off when they find that all-important first major job and would rather wait until their late twenties is insulting.

Students do need to be more responsible for their own finances - by reading up on what the other banks offer and switching to them.

Hannah Warren, London,

i can't believe that HSBC had the cheek to try and pass it off as concern for the students' welfare when it was clearly just profiteering; “The idea behind the interest rate was to get them to bring their debt right down now rather than leaving it to their early or even late 20s.” was it hell!
If they do reverse these charges it'll be an amazing success for NUS, i'm glad to see them working so hard for students on issues that really matter

J Murdoch, glasgow,

Everyone that I know who is with HSBC is not protesting, just switching bank accounts. This is absolutely ridiculous, students need time to enter into employment, not be loaded up with more debt to pay off HSBC. HSBC give students an extremely generous overdraft in their first year and increase it year on year only to charge for it the moment they leave university is certainly not responsible or preventing a debt problem. For many it will cause one.

Ben, Bristol, England

Brilliant move on the banks part. The banks that the students are moving their accounts to will have to pay off the HSBC overdrafts. That's a nice little windfall coming in the midst of the money market woes.

This will make me unpopular(!) but if you live within your means then you don't need an overdraft.

Colin, Leeds, England

“The idea behind the interest rate was to get them to bring their debt right down now rather than leaving it to their early or even late 20s.”

We can't bring are debt down now. Do you not think that if we get ourselves out of debt sooner we would. Many do not find jobs straight away so expecting to pay it off sooner by charging for it is not going to help when we have no money already!

Kat, Southampton, England

All banks are here to make money for share holders so you should not expect a free ride for ever.....
also HDBC is act responsably by trying to curb student debt .

Matt, skelmersdale, lancs

This is clearly an example of another bank without ethics. Making billions of pound each year but not bothered in the slightest about their customers. And why can banks change the contract after it has been entered into? FSA seems to be supporting this greed rather than limiting it. On services that people cannot do without, such as banking, water and electricity, the government should be much stricter: clearly the industry cannot regulate itself.

Annelien, London,

Why bother protesting, they don't deserve a second chance, everyone should just change bank and be done with them forever.

Adam, Sheffield,

HSBC offers a poor range of student financial products. In addition to removing interest free overdrafts for graduates
HSBC's student and graduate insurance policy compares unfavourably with those offered by dedicated student providers. The branch staff have little knowledge of the student insurance product and you are referred to call centre.

The credit card has a high APR. It offers none of the special offers that are available on normal adult cards such as low rate balance transfers. Students are better off with a normal adult card.

Finally, the £1500 limit on the overdraft (and I have been refused anything above £1000 for no good reason despite been a final year student - I was simply told to reapply in a few weeks!) is well below what others banks are now offering. The solution as far as I can see it is for students to be less apathetic and more willing to change banks.

James, London, UK

As a shareholder of HSBC I feel that it was inequitable and totally outrageous that ex-students (who are now earning) should be allowed to borrow MY money for free.

While they were students, it was reasonable for good marketing reasons, but afterwards....

Where, on earth, did they get the idea of free money from?
An overdraft is a temporary, short-term loan, in this case - during the period as a student, without income. Those factors no longer apply.
Try a (so called) interest-free credit card instead.

Brian Vallance, LEFKIMMI, Hellas

I closed my HSBC student account last week. The charges are outrageous and the service indifferent.

Laura, Lincoln, England

i can't believe that HSBC had the cheek to try and pass it off as concern for the students' welfare when it was clearly just profiteering “The idea behind the interest rate was to get them to bring their debt right down now rather than leaving it to their early or even late 20s.” was it hell!
If they do reverse these charges it'll be an amazing success for NUS, i'm glad to see them working so hard for students on issues that really matter

J Murdoch, glasgow,

My girlfriend (Now my wife) and I both graduated this summer. She had a student account with HSBC, and I have to agree that their behaviour has been terrible. We received a letter giving warning that they would be charging interest about 4 days before the charges commenced, so she had no way of paying off her overdraft in time. We had also asked in-branch in June to confirm that no interest would be charged, and were assured it wouldnt.
It just feels like a cheap money-making ploy for them, which seems very strange as I'd have thought they'd be keen to stay in the good books of the graduate market.
We're doing our best to pay off her overdraft and will be closing the account as soon as we can.

K Lambert, Chester,