HSBC Changing all Bank accounts

dougz_2

Lokolo wrote: »

I would think they want any regular amount which is above £500 will do.

Yes the terms for the Advance account suggest any incoming payments will do, but it is if you also want the 8% Reg Saver that their seems to be an extra catch:
Savings Accounts Clause 5.2 "you must hold an Account Advance and pay your salary or regular retirement income into it as long as you have Reg Saver"

It does not say these have to be a particular amount, so theoretically you could qualify by paying in a little £50pcm pension and then top up with £450 transferred by yourself.

Lokolo

Oh. Well that kinda sucks if I am not in employment over tax threshold then!

dougz_2

Also I notice it only says you can phone or call in at branch to open the Reg Saver, so I guess that might involve them checking eligibility at that point by quizzing you if you are actually paying salary in.

lotto-dreamer

Money_Maker_Shaker wrote: »

- I don't think there is reading the t&cs but may have missed this in the small print - does anyone know for certain?

they're probably trying out a new arrangement of the chairs on the Titanic....?

ShelfStacker_3

lotto-dreamer wrote: »

they're probably trying out a new arrangement of the chairs on the Titanic....?

Yeah, they're so close to bankruptcy it's not even funny. :rolleyes:

oldwiring

:DIs how an account will be treated per account or is it to be relationship based?
OH and I have a joint account with about £1500 a month going in, whilst OH has a sole account with another branch (from the days before card machines ) that has her state pension and dividends paid in to it. The credits average under £500 a month.

net result if the bank works on the basis of the individual computer account number is that for the one she can use her card fully and has protection etc.IMO it would not be good customer relations to tell her she cannot guarantee cheques on one but can on the other. Now suppose my cards on the joint account and hers on the sole are cloned ans she phones in ," hello my card has been cloned its Mr and MrsOldwiting accout #.". The details are taken, " and so has my account #". Reply effectivley is "hard cheese".

What a nonsnse unless the status is realtionship based.

I hope that more than wooden tots have thought it all through.

ShelfStacker_3

Oldwiring, the "fraud protection" relates to an identity fraud helpline, not say being able to get help if there's fraud on your debit card. They should assist you with that no matter what account you have.

In relation to your specific query, it's per account. So if you have one account where you credit £500 a month and one where you credit £50, the former will become Advance and the latter will not. In your specific circumstances, your OH will be eligible for the benefits because she is a signatory on the joint Advance account, and can guarantee cheques using its card (if it has CG functionality of course). On her other account, however, if her card still has a cheque guarantee facility then she will still be able to use it, but when the card expires and is reissued that new card will not have the ability to guarantee cheques.

But, just to stress; if there's fraud on your account, they won't tell you to get stuffed just because you're on a plain Current Account. That'd be indefensible.

oldwiring

[FONT=&quot]Shelf stacker I write in some haste, but TBH on the cheque guarantee front I maintain that it is a nonsense to tell such as my wife, who has banked with Midland and HSBC for over forty years that she can only guarantee cheques drawn on the joint account. This means two bad things in my opinion. Firstly, it may interfere with people's accounting arrangements, for it could involve one partner having to issue a cheque on the joint advanced account, then transfer funds to cover, in some cases with a risk that the drawn on account might accidentally go in to OD. Secondly that partner has the right to keep such affairs as she wishes private. The new system goes against that. With 40 years with the bank under our belts we have a right to be disgusted, and more in my case, at the bank's wooden stupidity..

Likewise I take your point about ID, but it would really be a complete and utter nonsense for a person such as my wife to contact the bank about ID theft was perpetrated on the joint account and her sole account, and then to be assisted in respect of the one and not the other.

Perhaps you could use those little grey cells and PM me with the details of some person at HQ to whom I may write and expect a reply that is much more than a standard, usually irrelevant reply.[/FONT]

ShelfStacker_3

She would be assisted with ID theft on both accounts, by virtue of her having access to it from the joint account. I feel we may have some misunderstanding regarding by what I mean by "ID theft/fraud"; if someone takes over her account through fraudulent means, the same policies as before apply. The ID fraud protection simply relates to things like if someone started taking out credit in her name, and being an Advance customer just gets you access to a helpline that can assist you.

With regards to the cheque guarantee card, I'm afraid I can't help you there, nor provide any details (I don't know any, in any event). If you wish you can go into branch and ask why they are discontinuing the facility on your OH's account, but they may well simply say that these are the new terms and conditions, as now applied to your account. The other alternative is to pay for an upgrade to HSBC Plus, which allows you a cheque guarantee card along with preferential rates on some products and a load of other benefits.

oldwiring

The only thing I will do at a branch is to insist they give me the name and address of a senior official at HQ :mad::mad::mad: