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  • FIRST POST
    • Mishomeister
    • By Mishomeister 13th Mar 17, 8:09 PM
    • 705Posts
    • 184Thanks
    Mishomeister
    Tricking HSBC in to giving me an Advance account
    • #1
    • 13th Mar 17, 8:09 PM
    Tricking HSBC in to giving me an Advance account 13th Mar 17 at 8:09 PM
    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.
Page 1
    • Ben8282
    • By Ben8282 13th Mar 17, 8:14 PM
    • 1,695 Posts
    • 689 Thanks
    Ben8282
    • #2
    • 13th Mar 17, 8:14 PM
    • #2
    • 13th Mar 17, 8:14 PM
    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
    • By badger09 13th Mar 17, 8:15 PM
    • 4,711 Posts
    • 3,898 Thanks
    badger09
    • #3
    • 13th Mar 17, 8:15 PM
    • #3
    • 13th Mar 17, 8:15 PM
    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?
    Originally posted by Ben8282
    5% regular saver?
    • Mishomeister
    • By Mishomeister 13th Mar 17, 8:17 PM
    • 705 Posts
    • 184 Thanks
    Mishomeister
    • #4
    • 13th Mar 17, 8:17 PM
    • #4
    • 13th Mar 17, 8:17 PM
    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?
    Originally posted by Ben8282
    £250 discount from a mortgage fee
    • Sean473
    • By Sean473 14th Mar 17, 8:59 AM
    • 49 Posts
    • 22 Thanks
    Sean473
    • #5
    • 14th Mar 17, 8:59 AM
    • #5
    • 14th Mar 17, 8:59 AM
    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.
    Originally posted by Mishomeister
    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
    • By bigadaj 14th Mar 17, 7:01 PM
    • 8,777 Posts
    • 5,559 Thanks
    bigadaj
    • #6
    • 14th Mar 17, 7:01 PM
    • #6
    • 14th Mar 17, 7:01 PM
    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
    • By firsttimemover 15th Mar 17, 11:09 AM
    • 121 Posts
    • 51 Thanks
    firsttimemover
    • #7
    • 15th Mar 17, 11:09 AM
    • #7
    • 15th Mar 17, 11:09 AM
    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...
    Originally posted by Sean473
    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
    • By cheesetoast 15th Mar 17, 6:25 PM
    • 243 Posts
    • 160 Thanks
    cheesetoast
    • #8
    • 15th Mar 17, 6:25 PM
    • #8
    • 15th Mar 17, 6:25 PM
    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
    • By Mishomeister 15th Mar 17, 9:44 PM
    • 705 Posts
    • 184 Thanks
    Mishomeister
    • #9
    • 15th Mar 17, 9:44 PM
    • #9
    • 15th Mar 17, 9:44 PM
    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.
    Originally posted by firsttimemover
    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
    • By firsttimemover 16th Mar 17, 12:03 PM
    • 121 Posts
    • 51 Thanks
    firsttimemover
    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?
    Originally posted by Mishomeister
    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
    • By stevec59 16th Mar 17, 6:45 PM
    • 206 Posts
    • 15 Thanks
    stevec59
    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
    • stevec59
    • By stevec59 16th Mar 17, 6:50 PM
    • 206 Posts
    • 15 Thanks
    stevec59
    Just noticed on their web page

    '**£125 to say hello
    If you open a 1st Account, switch your everyday banking to us using the Current Account Switch Service and pay in at least £1,000 within three months of opening the account, we'll top it up with £125 - it's the least we can do to welcome you on board...
    This offer is limited to one payment per customer or joint account, and you'll get the money within 28 days of all criteria being met.
    Sorry, we can only offer this to people who haven't previously held an account with us, and we reserve the right to refuse your application and extend or withdraw this offer at any time. Credit is subject to status.'

    So maybe Co-op, I did think of M&S but it looks like they have dropped there incentive
    • djpailo
    • By djpailo 16th Mar 17, 7:42 PM
    • 350 Posts
    • 118 Thanks
    djpailo
    If you don't meet the yearly earnings to fund the account, then you have a high chance of rejection.
    • Biggles
    • By Biggles 17th Mar 17, 8:37 AM
    • 7,242 Posts
    • 4,661 Thanks
    Biggles
    Although I can arrange for £1750 to get transfered there monthly, I would then transfer that money back to an interest paying account elsewhere.
    Originally posted by Mishomeister
    That's what all switchers do, with HSBC or any other account. They're not requiring (or even expecting) that you'll leave it there.

    I just paid in £1,750, by FP, withdrew it instantly back to my 'main' account, and got it upgraded to Advance after three months. Then I opened a Regular Saver and paid £250 into that for a year.

    I've closed both now, as they're no longer worth anything to me and I may be able to get a switching bonus a year or two further down the line.
    • stevec59
    • By stevec59 17th Mar 17, 11:53 AM
    • 206 Posts
    • 15 Thanks
    stevec59
    I called HSBC to apply over the phone, they told me to do it on the web, so I've just done it again and changed some of the numbers, I received a message saying that they will need to look at my application, so lets see what happens, if not I'll go elsewhere
    • JIL
    • By JIL 18th Mar 17, 12:10 AM
    • 2,948 Posts
    • 17,096 Thanks
    JIL
    I wouldn't hold your breath, I have never experienced such shoddy service as with HSBC, it took six weeks from me applying for an account for one to be opened. I phoned to transfer my account and wasn't able to be put through to the department that dealt with switching. This happened on three separate occasions. So I was advised to go into the local branch. I did, I queued up at the cashiers to be told I needed to wait to see someone else, I waited nearly twenty minutes. I was then told I needed to make an appointment. That's when I closed the account.
    I will stay with my current bank, They can keep their £150.
    • bigadaj
    • By bigadaj 18th Mar 17, 8:10 AM
    • 8,777 Posts
    • 5,559 Thanks
    bigadaj
    It's £200 plus the regular saver.

    Still slightly painful though.
    • TheEffect
    • By TheEffect 20th Mar 17, 5:43 PM
    • 2,206 Posts
    • 1,747 Thanks
    TheEffect
    I started paying my salary into my HSBC Bank Account (£2k/month) for the past few months and just received this email....







    Am going to call them and see if they'll upgrade it sooner so I can make use of the Regular Saver and cheaper withdrawals for a trip next month.

    That new debit card looks hideous.... oh well.

    EDIT - Just phoned, they said they could upgrade without running an application or credit search if I had an 'upgrade marker' on my account, but I don't, so they would have to run a full app/credit search. I decided to wait until May where it'll upgrade automatically. Odd.

    EDIT 2 - Thought I'd update this, tried calling again on the off chance I'd get a different response a day later, and this time the person upgraded my account straight away, ordered a new advance debit card. No credit check or application.
    Last edited by TheEffect; 21-03-2017 at 10:02 PM.

    • JIL
    • By JIL 8th Apr 17, 12:42 AM
    • 2,948 Posts
    • 17,096 Thanks
    JIL
    I wouldn't hold your breath, I have never experienced such shoddy service as with HSBC, it took six weeks from me applying for an account for one to be opened. I phoned to transfer my account and wasn't able to be put through to the department that dealt with switching. This happened on three separate occasions. So I was advised to go into the local branch. I did, I queued up at the cashiers to be told I needed to wait to see someone else, I waited nearly twenty minutes. I was then told I needed to make an appointment. That's when I closed the account.
    I will stay with my current bank, They can keep their £150.
    Originally posted by JIL
    I decided to make a complaint about the shoddy service, I got a reply to say they took complaints very seriously and I would hear back within five working days.
    Wow seven working days later I received a holding letter. It's now been three and a half weeks.

    Really shoddy service, why on earth do they do a massive marketing campaign and not have the staff to deal with it?
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