HSBC ONLINE SAVER A/C - no withdrawal penalty in July

gekktel

Normally no interest is paid on the HSBC Online Saver account during a month when funds, however big or small, are withdrawn. I believe penalties are suspended for July and I can withdraw funds without incurring any penalties. Can someone confirm this

PauliPauli

It would have mattered to me next month ...

...but I'm moving my online saver monies tomorrow to my new tesco internet saver account which is paying a lot more....

...and has faster payments IN and OUT. so makes it pointless leaving monies in the lower paying online saver as I now have almost instant access (within 2 hours) to the monies from/to tesco's account from/to all my other HSBC accounts

greyskittles

... is this definitely the case for July with their 'Online Saver'? I have a lot in a saver with them and want to withdraw £1000, I don't want to lose the interest accrued this month y'see (otherwise I will wait until the end of the month then withdraw it and send my money to a Tesco saver).

brookerbabyisababy

How do you know that they are suspended this month.

johnmoney05

Just signed in my account, oh well, I couldn't do the payment online. I only got one account with them. So I called their customer service. The adviser said I couldn't transfer money out from my account unless only by going to the branch. That is supposed to be a saving account. I replied this sounded stupid to me, an online account only can make deposit and can't make payment? The adviser then asked me for a hold. Oh, well, she came back and transferred out all the balance. I hate Indian call centre. They are polite, but they are useless! Do me a favour, use their brain before they answer customer's question.

greyskittles

I'm confused... so you can't do it online without losing interest but you can do it via phone/in branch?

Can anyone find the T&Cs for the Online Saver? I can't

brookerbabyisababy

I don't know where you got this from. But there is nothing on the website and they say that you will use the months bonus.

johnmoney05

The OP mixed up with the A&L e-saver account.

greyskittles

Yeah, I thought so too... I have an A&L saver and it's penalty free in July... As for HSBC I don't mean the online bonus saver, I mean the other one (called 'online saver' on internet banking) where you lose the whole month's interest if you make a withdrawal. There's no info at all on their website about this account.

I sent a secure message to HSBC anyway, will see what they say!

Jonbvn

We have an online saver account, and we have not heard anything about this. To be safe and ensure you do not lose any interest, assume it is not true.

greyskittles

Received a reply from HSBC - they said it is not true, you will lose your interest if you make a withdrawal this month.