I was relieved to find this website where I can seek some advice regading my HSBC current account. It is regarding charges made to me for receiving remittances from abroad:
On two occasions, in mid-June and in mid-July, my father sent me GBP 500.00 from abroad through an international remittance directly to my account. Naturally, he was charged at his end for sending the amounts.
However, in June, I was charged GBP 6.00, and in July GBP 15.00 for receiving these amounts...this was stated on the 'Advice of Credit' letter sent to me. This charge was automatically deducted from the total amount I was due to receive and did not appear separately on my statement.
My local branch concluded the difference was due to the exchange rate fluctuating, but I was not convinced. Surely, the exchange rate used would be the one it was at the time my father popped into his bank to make the transfer and not two different rates (at the time of remission AND at the time of crediting to my account). Regardless, these deductions appeared as 'Charges' on the 'Advice of Credit'.
Thus my questions are the following:
1) Why am I being charged for receiving an amount when the remitter paid all the charges?
2) Why were these charges different for both occasions.
I would just like to know where I stand on this issue and whether, in your opinions, it would be worthwhile for me to chase this up with the bank.
Thanks in advance!