HSBC Advance Save Together

badger09

Not me :cool:.

Alisha2008

I've paid £25 two months already (last month when I opened the account, and this month), but haven't got any confirmation either..

foreversummer

No confirmation received either:)

spenderdave

Opened a save together yesterday, it is showing today in my internet banking with my initial deposit. It is not clear when the extra payment will arrive....

badger09

spenderdave wrote: »

Opened a save together yesterday, it is showing today in my internet banking with my initial deposit. It is not clear when the extra payment will arrive....

https://www.hsbc.co.uk/1/PA_esf-ca-app-content/content/pws/content/personal/pdfs/44444_A5_Save_Together_Terms.pdf

Page 3 number 7. Looks pretty clear to me

Water112

How do you qualify for an Advance account from a normal bank account? I've had mine for years and through the last year have had more than the minimum funding going through it but apparently I don't qualify.

I rang to open a regular saver and the advisor also said 'there's no note on the system'. At the same time my neighbour managed to upgrade even though he admitted only having £1 in his account for 2 years. Their upgrade system seems to be all over the place!

masonic

It's been over 2 weeks now since I applied. So far I've received a welcome pack (1 week ago), but nothing since. I was expecting some T&Cs to sign first of all, but that hasn't happened. They would now be in breach of the 7 day switching guarantee if I'd been switching to them. I've opened several current accounts over the past 12 months and this is the first not to meet the 7 day switch timelines for at least providing me with my account number and sort code.

KTF

Phone them and complain. I think in the welcome pack they sent me there was a leaflet that said they would pay something if you didn't have the account number and sort code in 7 days or similar.

Tabatha_Kitten

Not clear at all as no one has yet had any confirmation. See website.

http://www.hsbc.co.uk/1/2/savetogether

Half way down the page it says "our top save together FAQ's"

How do I know when I have activated Save Together?

We will write to you, to confirm that you have activated the offer and it will be available to you for the next 12 mon[/B]ths.

colsten

There's a huge misconception out there regarding the possible speed of current account switching. Banks and journalists are equally guilty for not doing anything to address that misconception.

People are given to believe that they can get from a standing start to a fully functioning current account with another bank they have no existing current account with, complete with debit card, PIN, online access, even cheque book for those who believe in cheques, as well as all their money and their payees/DDs having been ported to the new account.

Very few people understand that opening a brand-new account with a different bank is totally separate from switching a current account from bank A to bank B. I haven't seen any journalist telling people about the advice the Payments Council (who were responsible for the implementation of the current account switching service [CASS]) give:

Q18
Are account opening and account switching all part of the same process?

A18
Account opening and account switching are separate processes. Your new bank or building society has to carry out ‘know your customer’ security checks as part of their account opening process. Once these are complete to the satisfaction of the new bank or building society, you can choose and agree your switch date.

Think about it - why would you agree to a switch date before you don't have your debit card, your PIN, your online access to your new bank account? No amount of switch guarantee will help you if you are stranded without access to your cash - and you will notice there isn't actually anything in the guarantee that says you will have uninterrupted access to your cash.

The CASS assumes you have a working current account you are switching to. Logic says this is obvious, considering that things like sending our debit cards, PIN numbers and online access credentials involve 3rd parties that are not under the control of any bank or any account holder.