HSBC Basic Bank Account

coolesticeking

Hi Folks,

Just a quick one really... Been reading the HSBC Website about the Basic Bank Account and also have had one of the Brochures sent to me into the Post..

It says that you will get a "Self-Service Card".. Is this just a basic Cashcard for use in Cash Machines only or would it be a Full Auth Visa Debit Card?

Also, does anyone know if you can Upgrade to a full bank account with HSBC if you run the account in good order, or would it involve a Credit Search regardless of the time being with them? I have tried to apply for the full bank account but they have declined me so just looking around.

Many thanks,
David

cifpower

I have applied for this account. It comes with just an ATM card and you can build up an internal score which will allow you to upgrade.

Toe-Jam

cifpower wrote: »

I have applied for this account. It comes with just an ATM card and you can build up an internal score which will allow you to upgrade.

They will preform a full credit search on you if you try to upgrade.

I used to have the basic account. You have to have it a minimum of 6 months before they will upgrade it.

They sent me this in a secure message when i enquired about it a while ago.

"However all Basic Bank Account upgrades are subject to a full credit check, so we can't guarantee we would be able to upgrade the account. The application to upgrade can be done either by visiting your local HSBC retail branch or over the telephone on 0800 130 130."

coolesticeking

Cheers folks for the fast response.. I wonder why they don't offer a Full Auth Visa Debit Card on the account? Seems to be the only thing that lets the account down as most of the other banks offer one or Visa Electron at the least?

coolesticeking

Sorry forgot to add, Can you apply for the Basic account over the phone or does this have to be done in branch? I may just open the account for a few transactions in hope that it will help build my credit score and one day get the full account with HSBC.

Cheers,

Extant

They may not wish to increase their market share in that sector, most likely.

coolesticeking

Extant wrote: »

They may not wish to increase their market share in that sector, most likely.

Yeah I presume so... Cheers for that!

Toe-Jam

coolesticeking wrote: »

Sorry forgot to add, Can you apply for the Basic account over the phone or does this have to be done in branch? I may just open the account for a few transactions in hope that it will help build my credit score and one day get the full account with HSBC.

Cheers,

You have to do it in a branch. Why don't you get a Natwest or RBS step account. you'll get a debit card immediately.

Extant

In fact, virtually any other bank will give you a debit card straight away.

The FSA has a list of basic bank accounts and what card they offer.

coolesticeking

Cheers again folks, I do have an Advantage Gold account with NatWest with a Cheque book but due to a few Defaults with other Cards etc its mucked up my Credit Score...

I'm just wanting to really just open a Basic Bank Account that I could use for a few simple things in hope it will add them all important green ticks to my file again... Anything to build it back up to near perfect! (Even though its a good 5 years away from them dropping off, I just hope keeping up with my Payments again will make this strong.)

Thank's again as always!

book12

I would recommend the Barclays Cash Card Account (comes with debit card, despite the product name), RBS Key Account, and Natwest Step Account. All comes with full authorisation Visa debit cards, and full use of LINK cash machines.