HSBC to launch new 8% regular savings account

lipidicman

The account mentioned above is an ISA, but the HSBC account isnt, so I dont quite follow your argument.

Yes, when the interest is paid depends on the account. Some pay on the anniversary of opening. Some pay on the same day of the year for everyone (eg 31st September) They are all different

dean_ham

to this regular savings....


When signing up do i select

My interest should be paid as gross or net???

Does it matter, what do you recommend.

jimclark1967

dean_ham wrote:

When signing up do i select

My interest should be paid as gross or net???

Does it matter, what do you recommend.

If you are a taxpayer you should select net interest where the 20% savings tax is taken automatically. If you are not a taxpayer select gross (you will probably have to fill in an Inland Revenue form R85 as well) and the interest will be paid without tax deducted.

almahadeus

Kazza242 wrote:

I've just spoken to HSBC's customer service helpdesk. This is what they said:

- You can open the 8% account (and HSBC current account if you don't already have one) over the telephone, via the post, or by visiting a HSBC branch. In fact, the advisor was prepared to open the accounts for me on the spot over the phone a moment ago. I declined, I'll wait until I've read the T&C's before I decide if it's worth applying. The T&C's will be available via the HSBC site either tonight or from tomorrow.

I AM FURIOUS!!!!!!! I applied for this regular saver through internet banking exactly 1 week ago and when I rang CS yesterday to find out what happened to the account I was told I would have to GO TO MY LOCAL BRANCH TO SHOW ID and SIGN!!! Even though I opened it through internet banking and obviously nobody else could have opened it other than me!!

Being that my local branch is 40 miles away (I live in scotland) when I told her that she said she would call my branch to speak to them and ask IF I COULD SIGN AND POST A FORM BACK! The local branch was busy and needless to say they never called me even though I was promised they would call me back.

I'm really thinking about moving all my accounts away from HSBC as I've been having problems (especially with their Customer services) almost every month for the last 6 months.

So which is it? Can I open it on the phone or do I have to do it in person?

crana999

Bah, I hated HSBC as well. I only stay with them to take advantage of my £1k 0% interest overdraft. I get my student loan paid in there, then take it out and use a sensible bank for everything else!

Paul_Herring

almahadeus wrote:

I AM FURIOUS!!!!!!! I applied for this regular saver through internet banking exactly 1 week ago and when I rang CS yesterday to find out what happened to the account I was told I would have to GO TO MY LOCAL BRANCH TO SHOW ID and SIGN!!! Even though I opened it through internet banking and obviously nobody else could have opened it other than me!!

.. other than your next door neighbour, your mother/father/son/a.n.other, a dodgy postman (or other) intercepting your mail, some criminal on the other side of the country...

Money laundering regulations are there for a reason. If you don't like adhering to them, don't open new accounts with any institution.

mgr1970

almahadeus wrote:

I AM FURIOUS!!!!!!! I applied for this regular saver through internet banking exactly 1 week ago and when I rang CS yesterday to find out what happened to the account I was told I would have to GO TO MY LOCAL BRANCH TO SHOW ID and SIGN!!! Even though I opened it through internet banking and obviously nobody else could have opened it other than me!!

If you open the account online through your IB number there is no paperwork to sign, i would call direct sales instead of customer services as you will get through to the UK instead off the far east.
I would not go to your branch if its 40miles away my branach have still not heard of this account.

almahadeus

Paul_Herring wrote:

.. other than your next door neighbour, your mother/father/son/a.n.other, a dodgy postman (or other) intercepting your mail, some criminal on the other side of the country...

Money laundering regulations are there for a reason. If you don't like adhering to them, don't open new accounts with any institution.

I don't like the tone of the last sentence. Remember the boards say be nice to other moneysavers.

No, the above people could not have opened the account through my internet banking because it needs the security number which only I know, and is never anywhere in mail etc.

If I can transfer thousands of pounds out of my bank accounts through internet banking then why shouldn't I be able to open a simple savings account?

lipidicman

You SHOULDN'T need to do this as an EXISTING customer, but you do with Halifax - it is annoying - they wont open it in branch, but you also cant open it without going into a branch afterwards - it makes a mockery of the whole online thing. I am just going to take my credit card in and get them to OK it. If they want more than that they are going to have to sing!