5 September 2007
HSBC has been forced to climb-down over a decision to scrap interest-free overdrafts for university graduates after a campaign launched on the social networking site Facebook.
The banking giant proposed plans that would have meant graduates who were overdrawn would have had to pay up to £12 a month or more than £144 per year.
5,000 signatures were gathered on a petition on the site from students and graduates within days. This prompted the bank to issue a statement saying it was "not too big" to listen to its customers.
HSBC has since stated it will also refund charges which it has already imposed.
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