The campaign, part of HSBC's ongoing aim to offer superior service and transparent pricing, will take place over the next few months.
The initiative follows the bank's announcement on September 9 that it is waiving its unauthorised overdraft fee for small and infrequent excess overdrafts, abolishing its unauthorised overdraft rate for its standard overdraft rate which is being reduced from 18.3% to 14.8%. It was the first of the 'Big Four' to slash its rates. The changes take effect on November 29.
The campaign has been segmented in order to target particular customer types, such as those who regularly exceed their overdraft limits and those who don't.
HSBC believes up to 500,000 of its customers will be overdrawn at any one time. Of that number, around 50,000 pay the unauthorised rate.
Ian Ogilvie, marketing director at HSBC, said: "In all fairness we realise that customers can make mistakes. In the past if someone went outside their agreed overdraft they would have been charged a penalty fee. Now, if they do so occasionally then we won't charge them. However, if a customer continues to go beyond their limit they will be charged £19, as opposed to the previous £27.50."
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