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HSBC "automatic upgrade to Bank Account"
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2bak860
Posts: 86 Forumite
I've just found a message in my HSBC current account online banking:
"We're delighted to let you know that as you're now paying over £500 a month into your Current Account, you qualify for an automatic upgrade to Bank Account."
Has anyone else encountered this and would MSE recommend to upgrade? I can't see that there's any charges and it comes with (what sounds like good) benefits - but I'm slightly wary of it.
Thoughts?
I'd share the url, but I can't :-(
"We're delighted to let you know that as you're now paying over £500 a month into your Current Account, you qualify for an automatic upgrade to Bank Account."
Has anyone else encountered this and would MSE recommend to upgrade? I can't see that there's any charges and it comes with (what sounds like good) benefits - but I'm slightly wary of it.
Thoughts?
I'd share the url, but I can't :-(
Business borrow WAS £12,000 Now £10,200 | House deposit WAS £20,000 Now £10,943.33 + £15,368.55 of Interest at 5%
Purchase CC 0% WAS £180 Now £145 | Balance Transfer CC 0% WAS £1,153.48 Now £1,788.84
Total debt WAS £58,269.15 Now £41,949.72
Purchase CC 0% WAS £180 Now £145 | Balance Transfer CC 0% WAS £1,153.48 Now £1,788.84
Total debt WAS £58,269.15 Now £41,949.72
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Comments
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I've just found a message in my HSBC current account online banking:
"We're delighted to let you know that as you're now paying over £500 a month into your Current Account, you qualify for an automatic upgrade to Bank Account."
Has anyone else encountered this and would MSE recommend to upgrade? I can't see that there's any charges and it comes with (what sounds like good) benefits - but I'm slightly wary of it.
Thoughts?
I'd share the url, but I can't :-(
What type of account do you have with HSBC today?
What does the Bank Account offer over and above the one you currently have?
Will you be able to pay in at least £500 a month for the foreseeable future?0 -
The HSBC automatic upgrade from 'current account' to 'bank account' is worthwhile and there is no change of account number. Bank account is HSBC's standard current account.
The OP is now eligible HSBC wise for all the normal facilities of a bank current account which were not previously available to them including overdraft facilities, loans, credit cards, some of HSBCs mortgage deals, 4% regular savers account.0 -
Even better would be to 'upgrade' to a bank account at Santander / Nationwide / Halifax.
By switching, you could actually get something back from your bank.0 -
My thoughts are that you should ask HSBC for the T&Cs of the upgrade / the upgraded account, and then evaluate them against your needs.Thoughts?
It is likely that the upgrade would be to your advantage but it's up to you to confirm or otherwise. Also, as RB10 said, there may be even more advantageous offers in the market.0 -
Thank you all for your replies!Business borrow WAS £12,000 Now £10,200 | House deposit WAS £20,000 Now £10,943.33 + £15,368.55 of Interest at 5%
Purchase CC 0% WAS £180 Now £145 | Balance Transfer CC 0% WAS £1,153.48 Now £1,788.84
Total debt WAS £58,269.15 Now £41,949.720
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