HSBC Advance

skyranger

This is more for shared experiences really.

I've had HSBC Advance for the last year at £12.95 a month and really not sure if its worth it. Apart from them selling the fact that you speak to HSBC specialised agents - the only difference I see with this is that they are UK based as opposed to offshore.

The benefits are:

• Worldwide Travel Insurance1 - £220, based on the price of an annual family travel insurance policy from Aviva Insurance Limited.
• ID Theft Assistance - £150, based on the annual cost of identity theft assistance from red24.
• Life Cover - £43, based on HSBC Life (UK) Limited's calculation of benefit value, compared with guaranteed acceptance policies.
• Roadside Breakdown Assistance - £106, based on RAC equivalent cover before any discounts, offers or promotions.

Considering that I have only used travel insurance once and the breakdown assistance doesn't cover homestart (something I would prefer) - I am not sure its worth it.

So I've spent over £160 priviledge and I believe the APR on the account is more than a standard one!

Does anyone have this is advance account or is the general consensus that its not worth it.

Also has anyone cancelled the service and how easy is it to do so?

jen245

My hubby had it for 4 years, used the travel insurance twice, and that's it. He has full AA membership with homestart, and so had no need for the Advance cover. He rang them up and cancelled it last year, and they downgraded him to a normal bank account, and sent him out a new debit card. I personally don't think any of these packaged accounts are worth the fees, you can always find better deals elsewhere

skyranger

Thank you - I've cancelled it. They did go through the usual stuff of what would happen if you didn't have it but finally got there.