How to cancel HSBC Advance

Tea_Hee_23

Hi,

As an existing HSBC debit card customer I upgraded to HSBC Advance in May this year. Although I normally do not consider myself easily lead, in the instance of signing up to this I gave in very easy to what are in all honestly, completely pointless perks.

With just over 6 months to go of the 12months you submit to with this, what is the best way to cancel so I can be sure they'll be no payment whatsoever in month 13 and I go back to my original debit card plan.

Thanks

dalesrider

I would either call or use internet banking to send a message advising you want to cancel.

kloana

Log into internet banking and use the messaging facility, they'll process your request no problem. I've used this facility to cancel Advance before (not worth it!), well within the initial 12 months, also to reduce credit card limits, close unwanted savings accounts, etc.

I normally state in my messages that I'm 100% sure I want to cancel, and don't want a sales call to check if I'm 'sure'.

Tea_Hee_23

Hi Kloana,

Thanks for the advice. I did call HSBC last week, they told me it was not possible to cancel it until I had completed the 12months as per the agreement.

Was this the same for you, i.e. did you have a 12 month agreement? If so, were you definitely able to cancel during this period?

System

Did you get any new Terms and Conditions recently?

First Direct brand recently issued new T&Cs which allowed you to get cancel your accounts early. Perhaps this is case with HSBC brand too?

kloana

Tea_Hee_23 wrote: »

Hi Kloana,

Thanks for the advice. I did call HSBC last week, they told me it was not possible to cancel it until I had completed the 12months as per the agreement.

Was this the same for you, i.e. did you have a 12 month agreement? If so, were you definitely able to cancel during this period?

Got my Advance about 2 years ago. They'd been cold-calling me for a while, and eventually caught me in a more passive mood, when I agreed just to get them off the phone. Paid the fee (reduced promo rate) for 2-3 months, then just cancelled out of the blue. Think I had to pay a final monthly fee, due to the date of the month. Had no problems at all cancelling. I remember them wittering something about 12 months, but they actioned my request to cancel without question.

premierfella

The relevant term in the T&Cs is 33.7. As per kloana - the only thing to add is that if you HAD used any of the Advance benefits, the term indicates that they would not just cancel the Advance, but would take this as notice to close your HSBC current accounts.