New HSBC £20 cashback Online Saver offer

Dagobert

Milarky wrote:

But you could close the existing one and reapply the next day?

It appears to be possible: [thread=281618]HSBC £20 Incentive returns![/thread].

climbgirl

Dagobert wrote:

When you apply you have choose between existing customer and new customer. The applications go down a totally different route.

Existing customers are prompted to login and - at least that was the case last Easter - can only complete the application if funding from an existing HSBC account there and then.

I was not able to do that at the time and chose the new customer route. New customers receive a phone-call and are asked for direct debit funding.

However, according to the T&Cs (1.4) of the Online Saver, you have 14 days to fund the account with its minimum £500 balance. I confirmed this with the HSBC advisor, funded from an external account by BACS, and did receive my incentive payment.

That is correct, as an existing customer you have to immediately transfer the funds. Which is in direct breach of their terms and conditions, giving you 14 days to fund the accounts. I've been talking to them over the past few days about this, and they hadn't picked up on it before. They're looking into it apparently.....

cowboy

damien1 wrote:

Open an online saver before 15th October (with initial deposit of £500) and receive £20 by the end of December. The interest rate is a respectable enough 4.75% and worth opening if you have the spare cash to play about with. The offer now only seems to be on the online saver unlike before when it included bank a/c plus, credit card, home insurance etc. - This'll be the 3rd time i've opened an online saver and received the £20 incentive though (since each time i've closed pretty much straight after)! :T

I already have an online saver with HSBC...can I close my account and receive 20pounds from them if I reopened ?

damien1_2

well thats what i've done but you might be cutting it a bit fine now....if you get it closed today and then open it back up in a couple of days time over phone (so it'll be quicker) you should be fine.

gt94sss2

damien1 wrote:

Open an online saver before 15th October (with initial deposit of £500) and receive £20 by the end of December. The interest rate is a respectable enough 4.75% and worth opening if you have the spare cash to play about with. The offer now only seems to be on the online saver unlike before when it included bank a/c plus, credit card, home insurance etc. - This'll be the 3rd time i've opened an online saver and received the £20 incentive though (since each time i've closed pretty much straight after)! :T

Already being discussed here

Regards
Sunil

Market_Oracle

Yes, if you already have an account, you need to make an opening transfer of £500.

I transfered to my HSBC account on the 10th, the cash should land by the 15th so I can open the account online.

I think if you want to open one now, you best go and deposit £500 at an HSBC branch.

Theres no point worrying about T&C confusion as the clock is ticking.....

Dagobert

Can you close the account online or do you need to phone?

cowboy

Dagobert wrote:

Can you close the account online or do you need to phone?

Yeah, I wanna know the answer to this too.