Tricking HSBC in to giving me an Advance account

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Mishomeister
Mishomeister Posts: 1,051 Forumite
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in Budgeting & bank accounts
I was wondering if anyone had any luck in to getting their existing HSBC bank acount converted to HSBC Advance account.
When I spoke to the customer service person on the phone I was told that they wan to see for at least 3 months that the £1750 is coming in monthly.
Although I can arrange for £1750 to get transfered there monthly, I would then transfer that money back to an interest paying account elsewhere. I am wondering if I was to do this the HSBC staff member in charge of deciding if I am eligible for an upgrade would not say that as he sees that I only transfer £1750 in and out I do not qualify for Advance.

Another way I was thinking of getting the Advance is to close my existing current account with them now and applying for a new account in a few months. During the applicationj I would state this is going to be my main acount and chose Advance account at the application.
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  • Ben8282
    Ben8282 Posts: 4,821 Forumite
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    Why do you actually want an advance account? Your post would imply that you don't intend to keep any money in it or use it as your main account so what do you want it for?
  • badger09
    badger09 Posts: 11,209 Forumite
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    Ben8282 wrote: »
    Why do you actually want an advance account? Your post would imply that you don't intend to keep any money in it or use it as your main account so what do you want it for?

    5% regular saver?
  • Mishomeister
    Mishomeister Posts: 1,051 Forumite
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    Ben8282 wrote: »
    Why do you actually want an advance account? Your post would imply that you don't intend to keep any money in it or use it as your main account so what do you want it for?

    £250 discount from a mortgage fee
  • Sean473
    Sean473 Posts: 88 Forumite
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    Mishomeister wrote: »
    I was wondering if anyone had any luck in to getting their existing HSBC bank acount converted to HSBC Advance account.
    When I spoke to the customer service person on the phone I was told that they wan to see for at least 3 months that the £1750 is coming in monthly.
    Although I can arrange for £1750 to get transfered there monthly, I would then transfer that money back to an interest paying account elsewhere. I am wondering if I was to do this the HSBC staff member in charge of deciding if I am eligible for an upgrade would not say that as he sees that I only transfer £1750 in and out I do not qualify for Advance.

    Another way I was thinking of getting the Advance is to close my existing current account with them now and applying for a new account in a few months. During the applicationj I would state this is going to be my main acount and chose Advance account at the application.

    Yes, I don't see how this would be an issue... Just make sure you transfer the money back in 3 chunks of let's say £600 over a few days...

    I wouldn't close your account and go through the hassle of reopening one... It's just really painful!
  • bigadaj
    bigadaj Posts: 11,531 Forumite
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    OP this might come down to how much you earn.

    If your earnings are abive the £30k to meet the basic funding requirement then they may well be fine with the money being transferred in and not necessarily from wages.

    I opened an advance account a few months ago, I do earn enough but my wages don't go into it, after much painful delay the account was opened and I got the switching bonus and associated regular saver.
  • firsttimemover
    firsttimemover Posts: 149 Forumite
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    Sean473 wrote: »
    Yes, I don't see how this would be an issue... Just make sure you transfer the money back in 3 chunks of let's say £600 over a few days...

    No need for even this, I upgraded an old student that I hadn't used for a few years by transferring £1,750 (I think I did £2k but probably not necessary) once a month for 3 months, in and out within minutes. No problem upgrading over the phone.
  • cheesetoast
    cheesetoast Posts: 258 Forumite
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    You could be really cheeky, sit down with one of the sales bods in branch, and say "Honestly, I really really promise that I'll pay £1750 a month in, honest, and I promise I won't just transfer it out and in again from another bank, and happy to sign the form that says I will, but I could change my mind later I guess, y'know, scout's honour and all that, wink wink?"

    And see if they are getting desperate for their sales targets at the end of the month, don't give a monkey's, and put it through.
  • Mishomeister
    Mishomeister Posts: 1,051 Forumite
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    firsttimemover wrote: »
    No need for even this, I upgraded an old student that I hadn't used for a few years by transferring £1,750 (I think I did £2k but probably not necessary) once a month for 3 months, in and out within minutes. No problem upgrading over the phone.

    Did they ask you anything at all on the phone about your planned usage of the account etc or did they just see 2k are coming in and clicked the upgrade button?
    Also, did you do any other transactions on the account during those three months at all?
  • firsttimemover
    firsttimemover Posts: 149 Forumite
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    Mishomeister wrote: »
    Did they ask you anything at all on the phone about your planned usage of the account etc or did they just see 2k are coming in and clicked the upgrade button?
    Also, did you do any other transactions on the account during those three months at all?

    No, no other transactions were done, I don't think I was asked many questions, it was literally a case of phoning up, them checking that I was eligible to upgrade (yes, the money is coming in each month) and upgrade. It was coming up to a year ago (my regular saver is about to mature), so can't remember exactly, but I don't remember it being too painful a process.

    You've got nothing to lose by doing a few transfers and asking the question in a couple of months time.
  • stevec59
    stevec59 Posts: 296 Forumite
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    I just had the same problem, I applied for a Advantage account on line and I've just received a letter saying that I haven't met the criteria, but I can have a normal Current Account, so no switch incentive and no regular saver.
    Maybe I'll go for First Direct instead, although I'm sure that I've had one before and
    'http://www.moneysavingexpert.com/banking/compare-best-bank-accounts'

    Says 'Newbies to First Direct' so I don't think I'd get the £125, guess I could try
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