Advantages to sticking with one bank?

VJ_

Baldur wrote: »

HSBC's 'Bank Account' is a product name, it was formerly called the 'Current Account Advance' until 2009/10, from memory.

Oh, right, then I've got a different product (that dosn't need to be funded) with them; I remember them offering to 'upgrade' me to their advance current account, but I declined at that time as I would have been paying more than I gained. IIRC it cost £12\month or similar when they offered.

Baldur

VJ_ wrote: »

Oh, right, then I've got a different product (that dosn't need to be funded) with them; I remember them offering to 'upgrade' me to their advance current account, but I declined at that time as I would have been paying more than I gained. IIRC it cost £12\month or similar when they offered.

The 'Current Account Advance' was a short-lived product, judging by this article, which did not have a monthly fee but did have the £500 minimum funding requirement.

I remember opening mine to give access to the 8% Regular Saver but soon after I opened it, the account was redesignated as 'Bank Account'.

VJ_

Baldur wrote: »

The 'Current Account Advance' was a short-lived product, judging by this article, which did not have a monthly fee but did have the £500 minimum funding requirement.

OK, the one they offered me had a monthly fee it may have been somthing like Bank account plus if not advance - it was three or four years ago now, and I declined the offer so can't remember the exact name.

Lith

coolesticeking wrote: »

Sorry I got it wrong it's £500/Month - The rule has been in force for a good few years now, maybe you have fallen through the net but as a general rule they are quite strict with this.



Account eligibility

If you can pay £500 or more into your HSBC bank account each month, you're entitled to apply for Bank Account.
If you do not pay £500 or more into your account each month, we will contact you to discuss your needs. Your account may be transfered to our Current Account service or we may give you notice that we will close your account.

I had questioned this in my thread... but after the replies i call BS on this rule... but i'll let you know in a few months if my account is closed because i cant fork in £500 lol