HSBC Advance Changes

pollypenny

HSBC Premier is an issue for me, as in order to hsve one we have £60k there, over I know, and needed the travel insurance, but their interest rates are so bad that it's costly.

Now OH is over 70 the extra has proved to be far more than the 'bit' suggested when we took the Premier Account. Can't wait to change, when we have had the best from the 'bit' we paid .

TheEffect

Will HSBC offer the Advance account to new customers, or is this going to be for current advance customers only, i.e. they've scrapped the advance account altogether?

Their website states 'HSBC Advance is no longer available. Existing HSBC Advance customers have been notified of changes to their account which will take effect from 10 November 2014'.

I've got a graduate account, but am interested in a packaged account for the travel insurance, phone insurance and breakdown cover.

I'll be paying about £1900 into my account each month, so should meet the requirement.

pinoke

Advance account is free for HSBC staff regardless of how much they pay in - in case any staff members are wondering or haven't received the memo!

Obviously, the insurance perks will cost extra.

TheEffect

Does anyone know whether HSBC will be offering the new Advance account to new customers from Monday, or is that simply when current Advance customers will notice the changes?

planteria

pollypenny wrote: »

Hmm, I expect there will be changes to to Premier Account to follow. We will be saying bye bye soon, anyway. Their interest rates are dire.

fair enough. but the Regular Saver is the best on the market.

TheEffect

The new HSBC Advance account is live.

Free overseas withdrawals (minus the 2.7% exchange rate)
£500 withdrawal limit
24/7 contact centre
Preferential rates

You've got to pay in £1750 from a non-HSBC account, so am guessing you can just transfer in and out from an account you hold at a different bank if your salary does not meet the requirements.

Not an amazing account, but the free overseas withdrawals is handy.

Archi_Bald

Was going to upgrade to that so I can get 6% on my Regular Saver. There is no option to upgrade in online banking, and the 24-hour phone number given for existing customers (03457 40 40 40) is not recognised. Nobody is answering the number for new customers (0800 130 130) either. It's supposed to be open until 10pm.

May be I just forget about it.

EDIT: persevered on the 0800 number and now got an Advance account. Took about 30 minutes, incl. full credit check. 6% AER on the Reg Saver from today

henm2

Archi_Bald wrote: »

There is no option to upgrade in online banking, and the 24-hour phone number given for existing customers (03457 40 40 40) is not recognised.

The correct number for HSBC telephone banking is 0345 740 4404

Archi_Bald

Thanks, I was only going by what their website says. But as I found, the 0800 130 130 worked alright.

TheEffect

Archi_Bald wrote: »

Thanks, I was only going by what their website says. But as I found, the 0800 130 130 worked alright.

Did you change your account to Advance?

I'm going to call them on Friday and ask to change my graduate account over... hopefully it's pain-free.