HSBC: 6% (fixed) on Current Accounts for new **and existing** customers

10_66

gld73 wrote: »

...Turns out it's not open to existing customers if you've already got your salary going into your account with HSBC - it's only open to customers who have another account and switch their salary and DDs/SOs to HSBC too. So a customer of 30 years can't get the interest, but someone who'll just stick around for the special offer can :mad:

If you're an existing account holder that has already used HSBC's switching service to open your existing account you wouldn't be eligible, but if you haven't used the switching service you are eligible for the 6% switch (as long as you adhere to the specifications, ie switch at least 2 standing orders or dd's, pay in at least £500 a month). If you have an account elsewhere that you can use for the "switch", just set up a couple of "dummy" standing orders (ie I set a couple up that go to my other bank accounts), the account you're switching from doesn't have to have your salary paid into it. If the account you're switching from does have your salary paid into it, I'm not sure if they would allow you to select what you want switching, or whether they'd insist on switching everything (which is why some of us keep a "spare" account to use just for these switching offers).

dougz_2

It sounds to me like you could maybe avoid visiting a branch to apply for this offer. The full T&C do not say you have to actually complete the form in branch:
"you must have correctly completed and signed a ‘Switching your personal account to HSBC’ form in respect of a Qualifying Account you already hold and have returned it to one of our branches"

They even have a pdf of switching form:
https://www.hsbc.co.uk/1/PA_1_5_S5/content/pws/content/personal/pdfs/switching-your-dd-form.pdf?HBEU_dyn_lnk=JanSale_CurrentAccount_SwitchingPage_HowToSwitchTab_DownloadToddaso_Link
Fill in this form with the details of your existing account, and either drop it in your local branch or send it back to:
HSBC Bank Plc
Harry Weston Road
Coventry
CV3 2TQ

However the above form is not actually called 'Switching your personal account to HSBC’ , and I am not certain if the Coventry address qualifies as a branch so maybe better to post it to your own branch.

Notice on the above form you are agreeing to the below, even though it is not required by the offer T&C:
I/We agree to:
• Arrange for my salary/income to be redirected to my new
HSBC account by my Account Transfer date
• Arrange to transfer the balance of my old account to my
new HSBC account.

Maybe you can cross out those phrases before signing?

dougz_2

So has anyone tried just posting them the above form?

10_66

dougz wrote: »

So has anyone tried just posting them the above form?

Yes, I posted the switching form and signature form. The pre-paid envelope that came with the signature form was slightly different from that which is shown above, but only by a slightly different post code (ie a couple of letters different at the end). Haven't had any welcome pack so to speak, just a letter confirming the sort code and account number that came with the signature form that had to be returned, but as I understand it, the account isn't opened properly until they receive the signature form.

td_007

I already have a current a/c with HSBC - however there is no option for existing customers to apply for a sole account (there is option for joint account). Having read and re-read the T&Cs I concluded that I just need to submit a switching form to be eligible for 6% interest. I have done this today...lets see if my interpretation is right

horngkai

td_007 wrote: »

I already have a current a/c with HSBC - however there is no option for existing customers to apply for a sole account (there is option for joint account). Having read and re-read the T&Cs I concluded that I just need to submit a switching form to be eligible for 6% interest. I have done this today...lets see if my interpretation is right

If you have not used their switching service before, then you will be eligible for it

mrchagle

Can someone tell me, when trying to registered for their internet banking - Where do you get your security number from?

10_66

mrchagle wrote: »

Can someone tell me, when trying to registered for their internet banking - Where do you get your security number from?

I rang them and they arranged it over the 'phone. They provide you with an IB (internet banking) number, but have to send a card "something or other" in the post before you can log on (which I haven't received yet). I hope you don't need a debit card for this, as I don't have one with them.

td_007

10_66 wrote: »

I rang them and they arranged it over the 'phone. They provide you with an IB (internet banking) number, but have to send a card "something or other" in the post before you can log on (which I haven't received yet). I hope you don't need a debit card for this, as I don't have one with them.

they will send you a "Secure Key" that will be needed to be used with a PIN. A most retrograte step I must say because it is different to card readers that other banks supply and can be interchanged - which means you now need to carry this contraption as well if you want to do hsbc transactions :mad:

gt94sss2

Are there any HSBC Premier account holders out there?

Interestingly the T&C (Section 4.2.1) suggest that HSBC will give all HSBC Premier customers a £10k interest free overdraft for a year..

For other accounts its £5k 'subject to credit checks' but no such rule for Premier accounts..!

This might be worth more than getting the 6% interest..

Regards
Sunil