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

Dagobert

DebtMagnet wrote: »

I have been watching this thread for a few days since I heard about this offer and I'm still no wiser as to the rules for existing customers.

Follow the instructions on the HSBC switching offer page.

1) download and read the offer T&Cs
2) click on the "How to Switch" tab and follow instructions:
a) fill in the form and post it to the address provided

The non-HSBC bank account you specify on the switching form must have a minimum of two SOs or DDs. All SOs and DDs of that bank account will be switched to HSBC.

DebtMagnet

Thanks both for the answer

Cheers
DM

adindas

Anybody knows when will they start paying 6% interest ? Is it after they sent the list of SO/DD sent to us or after the SO/DD is confirmed, thanks.

10_66

adindas wrote: »

Anybody knows when will they start paying 6% interest ? Is it after they sent the list of SO/DD sent to us or after the SO/DD is confirmed, thanks.

It's easier to get blood out of a stone than to get HSBC to give the answer to this question. I've tried sending secure messages (3 in fact now) and not had any answer to the question, only an acknowledgement that the message has been "sent to the relatvie department". I've tried ringing CS, and got a different reply from what the T&C's say. The T&C's say within a month of when they receive the switching form, but that's hardly very precise. Hopeless! Glad I don't use them as my main bank and have only gone with them to benefit from the 6% (when it eventually becomes attached to the balance). I haven't added the full £2,500 yet, just the £500, until I know it's earning interest.

Milarky

10_66 wrote: »

I haven't added the full £2,500 yet, just the £500, until I know it's earning interest.

Oh dear, I have (on the assumption that the rate goes on the moment the account is open.)

I agree with you about The World's [STRIKE]Local[/STRIKE] Worst Bank however. They launch a promotion during the Xmas post-jam. They send out random bits of paper relating to your application, but never all in one place. And when you phone up about it up it's like: "I'm having trouble finding your information [etc]" And, of course, if you speak to two different people it's fatal - because the story wends back and forth between them.

horngkai

I sent in my switch form on the first weekend of January. Have interest paid into my account today.

guli

Horngkai, when is your switch date in your switching confirmation letter?

Thanks

horngkai wrote: »

I sent in my switch form on the first weekend of January. Have interest paid into my account today.

adindas

Hi all

I just made a phone call to HSBC Pohone bankiong team today, who transfer me to their a/c department.. My clock for 6% was already start ticking about a week ago. It is actually the date when I got the list of SO/DD hat it is going to be swtiched from HSBC .

Hope this info is useful ...

guli

Hi Adindas,

Thanks,

Are you saying that it's the date on the letter that listed the SO/DD, the very letter that states when the switch date will be?

Thanks

adindas wrote: »

Hi all

I just made a phone call to HSBC Pohone bankiong team today, who transfer me to their a/c department.. My clock for 6% was already start ticking about a week ago. It is actually the date when I got the list of SO/DD hat it is going to be swtiched from HSBC .

Hope this info is useful ...

Milarky

Having enquired about it, I have now been informed that I will begin to earn interest from 14 'working days' following the date that HSBC got list of payments acknowledgement back from my existing bank (20th January) - which I reutrned to a HSBC branch on 6th January. The condition states:

b) You will start to earn the promotional credit interest within one calendar month of the date that we receive the correctly completed and signed ‘Switching your personal account to HSBC’ form;

Now you see the sophistry (deceitfulness) of this bank: "within one calendar month" literally means "at the end of one calendar month". Do you see that? Some people are going to read that and say "no, that could be any time within a month. It could be a day or it could be 30 days." But the point is that HSBC has the discretion when to pay and will surely exercise that to its advantage - going to the end of the month in all cases.