HSBC Loan - Repayment Award...

mh97

gingersdad wrote: »

Does anyone now if changing my bank from HSBC to another bank will have an effect on the cashback? I still am paying the loan, but obviously it is now taken from another bank, it's due up in about 6 months.

Just stumbled over this thread trying to find out the same answer. I changed my main account to Halifax about a year ago and have been making the payments from there ever since. My last loan repayment was just taken out on 01/03/13 though (thank God, 5 years of hell!) so I should know soon, I'll keep you informed. I still have my paperwork and it says "we will credit the account used in repayment of the loan" so I assume we'll be fine. My paperwork also says "To benefit from Repayment Award you must be a Bank Account Plus customer at the time the loan is taken out and must continue to be so until the end of the loan term", luckily I never closed that account due to being unable to get out of an overdraft. I'll finally be able to close that down now, another debt gone!