Urgent Easter weekend only Free £80 from HSBC

Colin_In_Brum

There is another thread started on this but I thought it might help having the time limit in the title. Check out their website https://www.hsbc.co.uk they are giving away £20 each for taking out a new current account, new on-line saver, new credit card, new car insurance. You need £500 to open the on line saver but it's not a bad rate anyway 4.75% Offer closes on Monday though so you need to hurry. I've just done it and so's the wife. Between us £100+ Rude not to! :beer:

isasmurf

Colin_In_Brum wrote:

You need £500 to open the on line saver but it's not a bad rate anyway 4.75%

Except it's got the same condition as FD - No interest in any month where there is a withdrawal. Still 20 quid is 20 quid...

YorkshireBoy

isasmurf wrote:

Except it's got the same condition as FD - No interest in any month where there is a withdrawal.

It's been posted before that accounts with this condition are (reasonably) OK if there are two of you. ie, if you need to make a partial withdrawal from one account, remove the entire balance on the first of the month and transfer it (less what you need) to your partner's account.

Seems like a lot of work when there are other similar paying accounts without such conditions. Still, as has been said, £40 (for a couple) is £40.

Blairweech

I've already got a HSBC current account and online saver, their car insurance is double my current premium and I don't need a credit card. Shame, I would have liked £80.

Are they the only bank doing an Easter promotion?

Milarky

I didn't realise it but they are still doing fee-free balance transfers on new accounts - if only for 6 months with a 3% minimum monthly payment. (Still, not to be sniffed at.)

Dagobert

If you open the Online Saver, you must fund it with a minimum deposit of £500 within 14 days of opening.

If you are have an HSBC current or savings account, this deposit must be made online via internal transfer. Existing customers cannot open the account without making the min. deposit straight away. Therefore, if you do not have the funds in one of their accounts, you cannot benefit from the Easter offer.

New customers can make the deposit via debit and apparently even via credit card. I would be cautious though about using a credit card in case this incurs a cash withdrawal fee.

Although new customers are requested to fill in their debit/credit card details, payment will not be taken immediately. Once the account has been approved, HSBC will phone to take the payment.

The incentive will be credited by 30th June after which you can withdraw your funds. Beware, no interest will be credited in months you make a withdrawal. Withdraw at the very beginning of a month! Monday 3rd July would be ideal - only 4 days of interst lost.

As I currently do not have enough funds in my existing HSBC accounts, I took the New Customer route.

Milarky

Dagobert wrote:

The incentive will be credited by 30th June after which you can withdraw your funds. Beware, no interest will be credited in months you make a withdrawal. Withdraw at the very beginning of a month! Monday 3rd July would be ideal - only 4 days of interst lost.

By which you mean Sat 1st, Sun 2nd, Mon 3rd and Tues 4th - then its in another account on Wednesday by BACS transfer requested on the 3rd? I suppose that might be 5 days lost in practice - but still only 26p (cost of a stamp). Nothing compared to £20. Could transfer instantly to other HSBC/FD account with cashcard and option to withdraw on Saturday 1st also..

Dagobert

Milarky wrote:

By which you mean Sat 1st, Sun 2nd, Mon 3rd and Tues 4th - then its in another account on Wednesday by BACS transfer requested on the 3rd? I suppose that might be 5 days lost in practice

4 daysare definitely lost; whether it arrives on the 5th and attracts interest on the day of receipt depends on the receiving bank account.

HSBC do not hold on to the money before passing it to BACS. But if you sent it to ICICI, it would arrive on Thursday because they hold on to the money an extra day after the BACS cycle.

Milarky wrote:

Could transfer instantly to other HSBC/FD account with cashcard and option to withdraw on Saturday 1st also..

You could transfer it to the instant access Flex Savings account on 1st July to get another 10p of interest.

It looks like I cannot benefit from the offer because my HSBC accounts are empty. I could try signing up via the New Customer route using a debit card but the Online Saver T&Cs state that existing customers must transfer initial funding from an HSBC account.

brranger

asks for a lot of detailed info, I am sure other banks did not ask me for driving licence number, elec bill Acc No. NI credit card number and security number and blood type? :eek:

(Made the last one up) :rotfl:

sloughflint

brranger wrote:

asks for a lot of detailed info, I am sure other banks did not ask me for driving licence number, elec bill Acc No. NI credit card number and security number and blood type? :eek:

(Made the last one up) :rotfl:

These details are optional though ( apart from the CC number)

sloughflint

Has anyone who applied received letter in post as mentioned in the email sent after applying?