HSBC - Flexible Savings Account

rachel90

Just a quick question really, does anyone know how many of these one person can have? I already have one which I use to transfer money into weekly to pay monthly bills but would like one more for real savings to prevent any confusion.

Thanks

ses6jwg

they are a terrible account - that I will tell you for free

rachel90

ses6jwg wrote: »

they are a terrible account - that I will tell you for free

It's an account I am able to access when I want, put minimal money into when I want etc. I am happy with the one I have and would be happy with another. I'm not looking for interest or anything like that, I want a basic account attached to my regular bank account that I can get to when I want.

Hydromancer

rachel90 wrote: »

It's an account I am able to access when I want, put minimal money into when I want etc. I am happy with the one I have and would be happy with another. I'm not looking for interest or anything like that, I want a basic account attached to my regular bank account that I can get to when I want.

I don't think there's a limit on how many you can have have per se but whether they offer you extra accounts or not depends on how you've conducted your other accounts...upon opening a regular saver account with them, I was once told that they didn't think it was suitable for me and refused to open one. This is despite having never gone into overdraft and having been a long-time customer. Someone I know has like 3 premier savings accounts with them so I guess they do allow you to open more than one.

I agree with the above comment about it being a terrible account. All banks offer accounts which are as easy to access as the HSBC Flexible Savings but often with far superior interest rates (Santander offer 3.1%, Nationwide offer 3.12%, Halifax @ 2.80%, Lloyds @ 1.6-2.5% I think).

ManAtHome

On their website, it says you can open as many as you like http://www.hsbc.co.uk/1/2/savings-accounts/flexible-saver?HBEU_dyn_lnk=SavingsAccount_FilterTool_FlexibleSaver_More_Btn

For 'putting away' savings, you should look at other banks/building societies - any with faster payments means you're only a couple of hours away from your savings.

Gromitt

You can have as many as you like, but at 0.04% interest, I wouldn't bother.

For instant access savings, I use a Halifax Online saver (2.8%) and a Halifax current account (£5/month for free!). So any unexpected bills I can pay from this account.

For savings which take a couple of hours to get, I use Saffron BS (3.15%).

then there's the ones that take years to get (but >= 4%)

But if your happy with just an account to keep your money organised, flexible saver is fine.

KxMx

HSBC don't have the best ISA rates around but maybe one of those would be suitable? Many of them are instant access and transfers between my very basic personal account and ISA are instant.