HSBC current account advance

hotcookie101

Hi, my OH has a current account with HSBC, and has just had the letter explaining t&c changes. It says he will be changed to current account as he does not qualify for the current account advance as he doesn't pay in more than £500 per month. Now his wages are paid in to this account monthly (has only had for 3-4 months) and these are always over £1500 (nearly £2500 last month!) so am confused as to why they have said this. Could it be as he has only just opened the account

kpwll

Maybe they are take an average for a year and he will soon qualify for the advanced account. Phone the bank or call into the branch and ask, maybe they can over-ride the automated system.

PremierFella_2

I do not know for sure how many months he needs to have made the £500 credits to become eligible for Advance, but he will need to contact HSBC if he wants to upgrade as the bank will not automatically upgrade Current Account customers to Current Account Advance (no big surprise there I guess! As a customer I would expect 3 or 4 months to be sufficient for the banks system to indicate that he has become eligible).

BYALPHAINDIA

It's 6 months for some accounts.

ShelfStacker_3

hotcookie101 wrote: »

Hi, my OH has a current account with HSBC, and has just had the letter explaining t&c changes. It says he will be changed to current account as he does not qualify for the current account advance as he doesn't pay in more than £500 per month. Now his wages are paid in to this account monthly (has only had for 3-4 months) and these are always over £1500 (nearly £2500 last month!) so am confused as to why they have said this. Could it be as he has only just opened the account

Your best option is to speak to someone in the branch, who'll be able to advise you further. Really though, you won't lose much by just having a CA; your OH won't be able to get a cheque guarantee card or monthly statements, nor will he have access to the 8% Regular Saver, but that's about it.

Mrs_Ryan

Hang on a minute, you cant get a cheque guarantee card with the current account??? My OH has one! He just has bog standard bank account - no extras, no monthly fee... he had a Solo but he asked them for a Maestro and they gave him one no probs... (But he's just told HSBC to bog off cos he's sick of having a rubbish account - he's gone to A&L instead)

Lokolo

They're changing the accounts in Winter this year ongoing until 2010. Going from Maestro --> Visa, changing T&Cs etc.etc.

Kavanne

Mrs_Ryan wrote: »

Hang on a minute, you cant get a cheque guarantee card with the current account??? My OH has one! He just has bog standard bank account - no extras, no monthly fee... he had a Solo but he asked them for a Maestro and they gave him one no probs... (But he's just told HSBC to bog off cos he's sick of having a rubbish account - he's gone to A&L instead)

My bf has a maestro with HSBC but it clearly states on the back 'this is not a cheque guarantee card', maybe your OH has the same?

ShelfStacker_3

Mrs_Ryan wrote: »

Hang on a minute, you cant get a cheque guarantee card with the current account??? My OH has one! He just has bog standard bank account - no extras, no monthly fee... he had a Solo but he asked them for a Maestro and they gave him one no probs... (But he's just told HSBC to bog off cos he's sick of having a rubbish account - he's gone to A&L instead)

The next issue of his card will not have a CG facility then, unless he credits over £500 a month, in which case he's eligible.

Good luck jumping from the frying pan to the fire. A&L are idiots.

The_Fiddler_2

ShelfStacker wrote: »

Good luck jumping from the frying pan to the fire. A&L are idiots.

You are entitled to your opinion, but I personally have had no problems with my A&L account - I'm very pleased with it in fact.