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HSBC move account

conquinn
conquinn Posts: 41 Forumite
in Budgeting & bank accounts
Hi,

I currently have a HSBC plus account but am paying £12.95 which I dont want to pay any more as the extras they offer is rubbish not even a fee free overdraft e.t.c

I also have a credit card with them which I am currently paying off but wondered will they request me to pay all the credit card of If I request to move from them to another banks ?

Comments

  • cifpower
    cifpower Posts: 6,502 Forumite
    Do you want to move current account? Can you not just cancel the £12.95 membership fee? If you do move banks they will not ask you to repay the whole balance immediately.
  • Inactive
    Inactive Posts: 14,509 Forumite
    Indeed, why not just downgrade to a standard account with HSBC, no charges are made.
  • conquinn
    conquinn Posts: 41 Forumite
    Really I want to move my current account from HSBC to another bank that offers more (small fee free overdraft e.t.c)
    I'm just worried If I do move my current Account HSBC will demand I need to pay back my credit card. Would these be identified as 2 separate accounts or would the credit card be linked to the current account ?
    Can they demand me to pay back my credit card balance if I request to move my current account?

    Thanks,

    Conor
  • 97trophy
    97trophy Posts: 915 Forumite
    conquinn wrote: »
    Can they demand me to pay back my credit card balance if I request to move my current account?

    No but they can reduce your limit thus making further spending with it difficult.
  • 97trophy
    97trophy Posts: 915 Forumite
    conquinn wrote: »
    Really I want to move my current account from HSBC to another bank that offers more (small fee free overdraft e.t.c)

    I think Citibank still offer £500 free overdraft it you have your salary paid in.
  • heloid
    heloid Posts: 472 Forumite
    Part of the Furniture Combo Breaker
    I stopped paying my salary in to my HSBC account and nothing has changed with my credit card. My new bank First Direct (which I recommend, £250 free overdraft) even got my SO and DD's from HSBC directly.

    As long as you are making payments to the credit card they have no reason to stop doing business with you.
  • fantasy_dreams
    fantasy_dreams Posts: 53 Forumite
    you do know, that First Direct is the same as HSBC ?
  • Rafter
    Rafter Posts: 3,850 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    An overdraft is repayable on demand - a credit card is not. As long as you keep making the minimum payments and keep your side of the agreement.

    If HSBC were worried about your overall credit rating then they could reduce your limit, but they won't withdraw the card completely.

    Good luck

    R
    Smile :), it makes people wonder what you have been up to.
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