Alexandra Barring, Banking Moderator
@alexandra
You can overdraft your HSBC account with a recurring debit card payment, ACH transfer, or check by attempting to make a purchase or withdrawal for which your account does not have sufficient funds. If the transaction processes, you have overdrawn your HSBC account.
Standard Overdraft Protection
If your account has overdraft capabilities, HSBC will authorize recurring debit card transactions, ACH transfers, and checks that would overdraw your account. However, HSBC will not authorize any non-recurring debit card purchases or ATM withdrawals that would cause an overdraft. If you do not have sufficient funds, HSBC will decline the transaction, and your account will not be charged.
Overdraft Fees
Note that HSBC charges you a $35 fee each time they pay for a transaction that overdraws your account. You can be charged up to 3 overdraft fees per day.
HSBC’s Overdraft Discretion
It’s also important to remember that HSBC pays overdrafts at their discretion, which means they do not guarantee they will always authorize a transaction that exceeds your account balance, even if they have done so before. To avoid overdrafts, consider signing up for HSBC’s overdraft protection service.
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Typically, you can overdraft your account after opting in to your bank's overdraft protection service. However, the process is different with each bank. It's best you contact your bank beforehand to find out exactly how you can overdraft your account, and what fees are charged.
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