HSBC Advance Save Together

Alisha2008

Thanks, looks like it allows transfers so I will transfer my Cash ISA to that one.

MARTYM8`

KTF wrote: »

I imagine you have to open one of these: http://www.hsbc.co.uk/1/2/savings-accounts/cash-isa/details

And I see nothing in the terms which says you cannot move in funds from another HSBC isa. The loyalty isa also pays 1.5% for account holders - if you top it up at least once a year (via a transfer/new funds) - far better than the e-isa which only pays 1%! You will get the account added to your online banking - so you won't notice the difference bar the better rate.

But wait until Monday week!

http://www.hsbc.co.uk/1/2/hsbc-interest-rates

MrsWenger

MARTYM8` wrote: »

If you invest new funds it will by definition be a 2014-15 ISA - and you can only hold one of these. However the offer also includes transfers (full or partial). So in theory you could transfer in only £300 from another cash isa you have from previous tax years and get 1.5% interest plus potentially £120 on top of that over 12 months. That's an effective interest rate of over 40% - assuming they keep the offer going for the full 12 months!

Thank you for your reply MartyM8 and for information within your other posts.

It will indeed be interesting to see how many months they pay the £10 for!

Alisha2008

My ISA pays 1.4%, so not much difference, but I'll move it to get the extra £10 a month.






Why wait till Monday..?

vouch0r

tried to apply for the advance, stating i would pay in more than the required but they just offered me the basic account... oh well.. loss of 6% and 10£ extra in an isa

KTF

Its £120 less in an ISA that you have lost.

I will cal them later and apply as they dont have a way of doing it online by the looks of it.

Alisha2008

I was given the advance without ever applying for it.. I just got a letter about a month ago saying I had been upgraded.

Archi_Bald

I upgraded from their Bank account to Advance a few weeks ago. I had held the Bank account for a few years that had been having £500 a month going into it. £250 of which went into their Regular Saver and the other £250 went straight back out to where it came from.

They made a bit of a meal of the upgrade request and asked very inquisitive questions about the source of the monthly deposits and why I wanted an Advance rather than a Bank account. It's a good idea to have your answers to those questions ready when calling about an Advance application/upgrade. I can't be sure but I think they expect the monthly £1,750+ to come from employment or pension. I didn't have to provide proof of income.

Allow about half an hour for the procedure.

badger09

New Advance account holder here - 30th January. No email received yet but I like the look of this. Haven't bothered with a cash ISA this year but still have a little headroom

Don't have time to investigate fully as I'm supposed to be packing for flight to HK this evening. However, there should be wifi at the airport so I can pass some time there :rotfl:

MrsWenger

We only moved to Advance at the end of last year having had a standard joint account with them for about 25 years. I think up until November there was a fee for the Advance account but it is free now. Only took five minutes to upgrade but we do have one salary paid into there.

Personally speaking i think this offer is worth a go and we will just have to wait and see how long they pay the £10 a month for.

As Archi Bald mentioned, the regular saver we have now is a higher rate, 6%, which is better than the standard account rate.