Feeds

Facebookers bring HSBC to its knees

Web fanatics get free overdrafts

Internet Security Threat Report 2014

Facebook may not change the world, but it's changed one of the world's largest banks.

HSBC had planned to collect overdraft fees for Brits leaving university this summer, but after thousands of students mounted an online protest via Facebook, the big-name bank has scrapped the plan entirely, The BBC reports.

According to the National Union of Students (NUS), which organized the protest, more than 4,000 students badmouthed the bank from a Facebook group called "Stop the Great HSBC Graduate Rip-off".

"There can be no doubt that using Facebook made the world of difference to our campaign," said NUS vice president Wes Streeting. "By setting up a group on a site that is incredibly popular with students, it enabled us to contact our members during the summer vacation far more easily than would otherwise have been possible. It also meant that we could involve our former members - the graduates who were going to be most affected by this policy."

In joining HSBC, many students assumed they could make free overdrafts after graduation, but the bank said otherwise, slapping a 9.9 per cent annual fee on each overdraft. Now students are getting their wish.

"Following the feedback from our graduate account holders, both directly and via the NUS, we have taken the decision to freeze interest charging on 2007 graduates overdrafts up to £1,500," HSBC said. ®

Beginner's guide to SSL certificates

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.