Has anyone successfully moved from the old HSBC Online Saver to the new one.....

InMyDreams

Oh! no, I didn't! (Told you I hadn't been around much ;-) ) I have just (as in last night which was why I came online) applied for an ICICI 6.05% account, but at 6% I'd rather keep my money 'in house'. It's currently sitting in A%L which I'm going to close as soon as I've put the money elsewhere. (I want my hands on another regular saver.)

PS... LOL as MSE... I've didn't think my language was that bad. I even feel naughty when I write the letters OMG, let alone anything that might stand for something worse! I've never been 'edited' before!

intalex

If you'd rather stick with HSBC, then I think you should act fast, before they withdraw this offer and/or revert to the old rate. The 4 working days aren't passing soon enough for me, and I would like to think that a lot of people would have closed their old version online savers yesterday to take up the new version.

ICICI is probably better as it doesn't "charge" you a zero-interest penalty for withdrawals, but for some reason, HSBC gives one a better peace of mind in terms of security.

InMyDreams

Yes, I agree. I thought I might wait until Monday to make sure I get on the 6% rate... I don't want to get left behind again like with the old saver.

The zero-interest penalty doesn't overly concern me. I don't intend to withdraw, but it's my rainy-day pot so can if absolutely necessary and hopefully with enough time to do it properly.

I do like HSBC. I don't have huge pots of money there but they always seem to treat us like people rather than numbers. Maybe I've just been lucky with my local branches over the years. Even after this latest blip, they still made me feel like a valued customer.

intalex

The new 6% rate is now reflected on the HSBC web-site.

I've had an account with 3 of the big 4 in the past, and HSBC have indeed been both better value and better service from my experience.

InMyDreams

Yep, applied first thing this morning. Just looked and it's showing in my list already. Off to empty (and close) my A&L account now and here's hoping the 12% regular saver will still be around in 3 months...

intalex

Nice one... it's good to hear that the account shows up the same day.

I've sent HSBC a message to ask the earliest date on which I can open the account, as I wasn't sure if the date of closure of the old account counts as one of the 4 working days that I have to wait.

intalex

I had a reply this morning saying that I could apply for the new account as early as 05 June, which means that the day of the old account closure along with the Saturday in-between count as part of the 4 working days waiting period. Hence, I've applied online for the new online saver this morning, and if all goes well, expect to see it appear under my accounts at some point today.

MrBen_4

So is this still going to work with the new 6% rate? In the T&C they seem to stress the rate will only be given on funds NEW to HSBC. I moved my savings from my online saver to my flexible saver a/c and received confirmation of online saver a/c closure on the 4th June. I was going to re-open an online saver on the 11th (to be safe) but will have to think twice if I'm going to be lumbered with the 5.25% rate still after all that effort.

intalex

i have an e-message confirming that the funds (originally from the old version account) will be eligible for the new version rate, so i'd suggest sending them an e-message asking them if this is the case, and retaining their response as evidence.

by the way, the old version rate has gone up to 5.50%.

intalex

And finally, my new online saver has been opened this morning.

MrBen, I think you should probably apply online today so the account is opened by tommorrow at the latest, i.e. a few more days' interest.