HSBC had planned to collect overdraft fees for Brits leaving university this summer, but after thousands of students mounted an online protest via Facebook, HSBC has scrapped the plan entirely. 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”. “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.
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