They are only required to keep records for 6 years as under the Limitation Act this is the maximum time for any claim
Have you been to the Ombudsman yet at all?
Yes, I filled out the initial complaint form and I was advised to speak to HSBC directly to resolve the issue. I have the additional complaint form here but I just wanted to know if it was worth it, I'm running 2 businesses and don't really have time for this if it is not going to work out financially. Does that statute of 6 years mean that are not repaying anything charged before that date?
Indeed. The offer itself does seem to have been worked out in some detail. However if you dispute it, in reality its likely to be less then £250 and that would cost you around £100 and 6 months to take to Court
But the detail and breakdown seems to be accurate
You could still go via the Ombudsman and see if they can squeeze any more out of HSBC
Can I clarify anything for you about this today please?
No, I think I will just accept the offer, the cost-benefit ratio doesn't appear to be worth it. Thank you for the advice.