HSBC Advance Save Together

letThemPlay

I did similar I funded my ISA with £25 to start with then when the information came out about the Save To Buy ISA's I cancelled my SO and withdrew my original £25 and deposited £300

Hopefully this will count towards getting the £10 each month; as I want to be able to open a Save to Buy ISA as soon as they are available.

Did anyone else do something similar?

barvid

I did precisely this - set up a £25pm payment in March, then decided it would be better to put a £300 lump sum in so I could take my pick of any cash ISA product in 15/16 that I wanted to. Spoke to HSBC on the phone and they confirmed that as the initial £25 AND the £300 lump sum were "eligible payments" then I remained eligible for the £10 in April.

Westie983

letThemPlay wrote: »

I did similar I funded my ISA with £25 to start with then when the information came out about the Save To Buy ISA's I cancelled my SO and withdrew my original £25 and deposited £300

Hopefully this will count towards getting the £10 each month; as I want to be able to open a Save to Buy ISA as soon as they are available.

Did anyone else do something similar?

When did you do the withdrawal of the £25 and credit of £300? If it was after 6/04/15 you won't be eligible for STB as that £300 would count as a deposit in to ISA in 2015/16 tax year....

masonic

KTF wrote: »

Both have ADV in the title:
- GR HSBC ADV
- LOY ISA ADV

Looks like people who opened their loyalty ISA online should make sure they got the correct account - I didn't and the account is currently showing as LOY ISA BANK, even though I had a newly opened GR HSBC ADV account in online banking on the date I applied for it. Opening statement shows 1.4% rate for me.

https://forums.moneysavingexpert.com/discussion/comment/68260614#Comment_68260614

SuiDreams

masonic wrote: »

Looks like people who opened their loyalty ISA online should make sure they got the correct account - I didn't and the account is currently showing as LOY ISA BANK, even though I had a newly opened GR HSBC ADV account in online banking on the date I applied for it. Opening statement shows 1.4% rate for me.

https://forums.moneysavingexpert.com/discussion/comment/68260614#Comment_68260614

Thank you for pointing this out, I have checked my account and I am also getting the wrong interest rate, I have sent a secure message asking them to correct. This will be the 3rd error from HSBC since I opened my advance account in middle of March.

foreversummer

Both mine and my husband's ISAs were opened without the ADV and at the wrong rate. We phoned them to point out the error and we got £25 each as an apology for the mistake.

Foreversummer:)

Westie983

Still no £10, I'm hoping it will appear on monday, as it seems that the ones that opened the account on March 1st have received it,

does anyone know if you need to keep the £300 in the ISA to keep getting the £10? atm its all okay with my finances but wonder if I need to get some of it out, can I do that?

last year I used the isa as a regular saver as and when I had excess in my current account I did a faster payment across, and if I was running low of money I would transfer back, as I would never get to the 15k limit the withdrawal and depositing didn't matter....

does anyone know, I dont need isas as I'm a non tax payer but taking advantage of the 43% interest over the year....

Ifts

masonic wrote: »

Looks like people who opened their loyalty ISA online should make sure they got the correct account -
https://forums.moneysavingexpert.com/discussion/comment/68260614#Comment_68260614

Thanks for the heads up. I had a look at my Loyalty ISA in online banking and it was showing as LOY ISA BANK instead of LOY ISA ADV.

Phoned up HSBC telephone banking, got through to HSBC rep who kept assuring me that I was on the ADV rate for my Loyalty Cash ISA - I told him to check as I'm sure it should be showing as LOY ISA ADV in internet banking so he goes away and comes back and says 'he's double and triple checked and I'm on the ADV rate for my Cash ISA', I didn't bother arguing with him (sounded like he was trying to tell me what he thought I wanted to hear to get me off the phone!) as to why it was showing as LOY ISA BANK in my internet banking instead of as LOY ISA ADV and ended the call.

I came onto MSE and luckily from the link that masonic supplied above I managed to figure out how to check what rate I am receiving on my Loyalty ISA (look at your statement for the Loyalty ISA in HSBC internet banking then scroll down and click on the blue link 'Show interest rate for this account') and it was only 1.4% which is incorrect for the Advance Save Together offer.

After checking and confirming myself that I was on the incorrect rate I called HSBC again. Explained that I was on the wrong rate (that I checked on my online statement), the rep looked into it and agreed that indeed I was on the wrong rate and it should be showing as 'LOY ISA ADV'.
He said he has raised a service failure request on my behalf to get this mistake rectified. Also he apologised and raised a compliant on my behalf on the way I was given incorrect information on the phone call I made to HSBC an hour earlier where the person I spoke to was assuring me I was on the correct rate and all was fine when it wasn't.

So thank you masonic for pointing this out and also SuiDreams on the above thread on how you go about viewing what rate you are receiving on your Loyalty cash ISA.

badger09

Westie983 wrote: »

Still no £10, I'm hoping it will appear on monday, as it seems that the ones that opened the account on March 1st have received it,

does anyone know if you need to keep the £300 in the ISA to keep getting the £10? atm its all okay with my finances but wonder if I need to get some of it out, can I do that?

last year I used the isa as a regular saver as and when I had excess in my current account I did a faster payment across, and if I was running low of money I would transfer back, as I would never get to the 15k limit the withdrawal and depositing didn't matter....

does anyone know, I dont need isas as I'm a non tax payer but taking advantage of the 43% interest over the year....

No, you don't need to leave the full £300 in your ISA. You do however need to have both the Advance current account and the Advance Loyalty ISA for the full term of the offer.

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

Westie983

thanks for that badger - yes I still have the advance current account and the ADV LOY ISA, atm it has £300.32 in it and waiting for the first £10, but could do with the £300 to pay of my credit card later on in the year.