Facebook Campaign Forces Bank to Reverse Charges

The International bank HSBC has reversed its policy and has refunded student customers as a direct result of a student campaign on Facebook.
With the plans to charge graduating students 9.9% APR on their overdrafts, many students were infuriated with the bank’s decision, stating that having a free overdraft to help them establish themselves with graduation and finding a job was the reason they signed on with HSBC in the first place. The National Union of Students has initiated a campaign on Facebook, threatening to boycott HSBC, and the bank listened. Interest charges for overdrafts up to £1,500 have been frozen, and any interest charged for the month of August will be refunded to students.

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