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  • FIRST POST
    • poshrule_uk
    • By poshrule_uk 13th Jan 18, 5:14 PM
    • 32Posts
    • 12Thanks
    poshrule_uk
    HSBC Advance Switch Offer
    • #1
    • 13th Jan 18, 5:14 PM
    HSBC Advance Switch Offer 13th Jan 18 at 5:14 PM
    I don't earn the £1,750 per month but I would be able to make up the difference to the £1,750 to meet the account requirement (I'm on £23k per year)

    In peoples experience am I likely to be rejected for the account based on salary alone?
Page 2
    • Ianclarke145
    • By Ianclarke145 6th Feb 18, 3:27 PM
    • 3 Posts
    • 0 Thanks
    Ianclarke145
    HSBC OFFER T&Cs misleading
    I had a Yorkshire Bank account with nearly £1500 in that I did nothing with - no DDs or anything paid into regularly as most of my Banking is done through Barclays. So after watching Martins show on TV I decided to switch from Yorkshire to HSBC to get the £200 offer. I read the T&Cs specifically 4 c. "you instruct us to start a full switch of a current account, including at least two Direct Debits or Standing Orders"

    They switched the account successfully and as soon as they did I rang to get 2 DDs switched from Barclays and to organise £1800 a month to be paid in to the account so that I would qualify for the offer. They point blank refused to do this and said I would not qualify as the DDs were not transferred from my Yorkshire Bank account. I was on the phone for 48 minutes trying to get someone to agree that their T%Cs are not clear in that regard - No Joy and Not Happy!!!
    • LuSiVe
    • By LuSiVe 6th Feb 18, 3:49 PM
    • 826 Posts
    • 1,105 Thanks
    LuSiVe
    Sorry, it reads pretty clear to me.
    • ctdctd
    • By ctdctd 6th Feb 18, 5:19 PM
    • 866 Posts
    • 681 Thanks
    ctdctd
    I'm early retired but draw about £23K a year from investments.

    I applied for Advance but "computer says no" and was only offered their "Bank account" which does not have the switching offer and a lower regular saver rate.

    Oh well, win some, lose some!
    Do Money Saving sites make you buy more bargains - and spend more money?
    • Ianclarke145
    • By Ianclarke145 6th Feb 18, 5:25 PM
    • 3 Posts
    • 0 Thanks
    Ianclarke145
    Does to me. I let them transfer my account and I rang to give them 2 DDs for it but apparently I should have transferred the DDs before i let them transfer the account. Just wish they!’d made that clearer
    Last edited by Ianclarke145; 06-02-2018 at 5:28 PM.
    • EachPenny
    • By EachPenny 6th Feb 18, 5:28 PM
    • 4,612 Posts
    • 9,443 Thanks
    EachPenny
    I'm early retired but draw about £23K a year from investments.

    I applied for Advance but "computer says no" and was only offered their "Bank account" which does not have the switching offer and a lower regular saver rate.

    Oh well, win some, lose some!
    Originally posted by ctdctd
    If you have the time, go into a branch taking paperwork which supports your investment income and ask them to explain why you were declined when the T&C's don't require a minimum income.

    If you've passed all the credit checks etc in order to be offered the Bank Account then the only reason for them to decline you for the Advance is a commercial decision based on your income - which is not what you should expect given the T&C's.

    That is the route I followed and successfully got my Advance account opened.
    "In the future, everyone will be rich for 15 minutes"
    • clivep
    • By clivep 6th Feb 18, 5:53 PM
    • 280 Posts
    • 129 Thanks
    clivep
    Does to me. I let them transfer my account and I rang to give them 2 DDs for it but apparently I should have transferred the DDs before i let them transfer the account. Just wish they!’d made that clearer
    Originally posted by Ianclarke145
    Transferring the DDs before the switch wouldn't have qualified you for the bonus either. The DDs have to be transferred as part of the switch using CASS. The DDs must already be on the account being switched (so on your Yorkshire bank a/c not your Barclays one).

    The condition states:
    "c. you instruct us to start a full switch of a current account, including at least two Direct Debits or Standing Orders, to your Eligible Account using the Current Account Switch Service (CASS) to start within 30 days of the date of your Eligible Account being opened".

    Seems pretty clear to me with the relevant word being "including" rather than "as well as".

    The only switch incentive that I know of that required direct debits but let you set them up after the switch was the Yorkshire/Clydesdale bank one.


    • Ianclarke145
    • By Ianclarke145 6th Feb 18, 6:07 PM
    • 3 Posts
    • 0 Thanks
    Ianclarke145
    It must be my northern accent and way of using the Queens English. If the wording stated to instruct the switch of an account that has two DDs within it I would understand but to state ‘you instruct us to transfer the account’ (which I did ) and then go on to say including .... that means to me there’s two parts to the instruction one to transfer the account and 2 to attach 2 DDs to the new account within 30 days.

    Anyway no worries you live and learn.
    • Nellyw
    • By Nellyw 6th Feb 18, 6:23 PM
    • 7 Posts
    • 1 Thanks
    Nellyw
    HSBC Swtch
    Well I switched to HSBC Advance and switched 3 DD's. However, the switch completed on the 25th and they didn't pay a Post Office Credit Card DD due on the 26th. So I now have a £12 charge from PO and a possible black mark on my credit file. HSBC say it could take up to 8 weeks to investigate it!


    Needles to say I paid the monthly payment by debit card as soon as I found out.
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