HSBC and Internal Scoring, and Advance

supasaverbob

I've had an HSBC current account for over 12 years. I've recently been a bit more interested since they launched the Save Together ISA. Anyway, a few months ago I asked if I could have a contactless card on my account as I was going to use that account for small spends. I was declined, which was a bit of a surprise as I didn't think that contactless was a big deal these days. I don't use the account very often at all, only really when I deposit coins at one of their machines, so there's not a lot of money going through the account and I guess that's why they declined the extra feature on my account. No problems, their prerogative.


They did say that I could try again for a contactless card in 6 months (generous of them, but needless to say I've opted to get an account elsewhere for this purpose, First Direct).


My question to you is: if I want to have any hope of upgrading my account to HSBC Advance, what's my best bet? Wait until I've been crediting the account regularly for a few months and maybe set up a DD on it?


I currently have a product called Current Account and have been told that I need to pay in a minimum amount each month for a six month period after which I may be upgraded to a product called Bank Account (and they'll give me two months notice before doing this). Seems like I might have a while to wait on Advance....?

justme1985

I was recently upgraded to the Advanced account. They wrote to me to say I qualified as I paid in over £1750 a month. So I guess you would need to have that amount coming in regularly before they would consider it.

They also said they would monitor it to make sure I keep paying in above that amount, if not I would get downgraded again!

TheEffect

supasaverbob wrote: »

I've had an HSBC current account for over 12 years. I've recently been a bit more interested since they launched the Save Together ISA. Anyway, a few months ago I asked if I could have a contactless card on my account as I was going to use that account for small spends. I was declined, which was a bit of a surprise as I didn't think that contactless was a big deal these days. I don't use the account very often at all, only really when I deposit coins at one of their machines, so there's not a lot of money going through the account and I guess that's why they declined the extra feature on my account. No problems, their prerogative.


They did say that I could try again for a contactless card in 6 months (generous of them, but needless to say I've opted to get an account elsewhere for this purpose, First Direct).


My question to you is: if I want to have any hope of upgrading my account to HSBC Advance, what's my best bet? Wait until I've been crediting the account regularly for a few months and maybe set up a DD on it?


I currently have a product called Current Account and have been told that I need to pay in a minimum amount each month for a six month period after which I may be upgraded to a product called Bank Account (and they'll give me two months notice before doing this). Seems like I might have a while to wait on Advance....?

I recently opened a 'Bank Account' with HSBC. I didn't qualify for a contactless debit card either, however I phoned them, asked to speak to a manager, explained I live in London and need one, and they ordered me one without a fuss. It seems they can easily enough override the system, just give them a call (do not use the online messaging system).

As for upgrading to Advance, you must have had £1750 paid into your account for the last 3 months, or they'll refuse to run through an application with you. If you've had this much paid into your account for the past 3 months, I can't imagine you'll have much problem switching to Advance.

Thrugelmir

supasaverbob wrote: »

I was declined, which was a bit of a surprise as I didn't think that contactless was a big deal these days. I don't use the account very often at all, only really when I deposit coins at one of their machines, so there's not a lot of money going through the account and I guess that's why they declined the extra feature on my account. No problems, their prerogative.

If you don't use the account as your main one. Then not surprising that HSBC have no interest in you as a customer. Banks aren't charities offering services for free.

supasaverbob

Thrugelmir wrote: »

Banks aren't charities offering services for free.

Thanks for your insight.


TheEffect — I called as you suggested and they reviewed my account and are now sending me a contactless card. Thanks.

supasaverbob

So I phoned the number and have now upgraded to HSBC Advance, but in internet banking the a/c shows as GREEN CURR still, i.e. Green Current Account. Before I ring them, does anyone know if it takes a while to show up on internet banking? I phoned to upgrade about 2hrs ago.

gt94sss2

supasaverbob wrote: »

So I phoned the number and have now upgraded to HSBC Advance, but in internet banking the a/c shows as GREEN CURR still, i.e. Green Current Account. Before I ring them, does anyone know if it takes a while to show up on internet banking? I phoned to upgrade about 2hrs ago.

Probably overnight.. I would wait until Monday/Tuesday to call

Regards
Sunil

TheEffect

supasaverbob wrote: »

So I phoned the number and have now upgraded to HSBC Advance, but in internet banking the a/c shows as GREEN CURR still, i.e. Green Current Account. Before I ring them, does anyone know if it takes a while to show up on internet banking? I phoned to upgrade about 2hrs ago.

It updates overnight in internet banking, and will shows as Advance A/C tomorrow.

Did you pay in £1750+ for the past 3 months? (just curious whether this is set in stone or not)

supasaverbob

Thanks TheEffect, helpful once again. Yes I have paid in £1800 for the past 3 months (only).

pollypenny

Thrugelmir wrote: »

If you don't use the account as your main one. Then not surprising that HSBC have no interest in you as a customer. Banks aren't charities offering services for free.

I don't think HSBC has much interest in most customers.

I had banked with them since I was 17, 50'years ago, having a Premier Account for the last eight years or so.

The benefits of that account have been gradually withdrawn, they charged a fortune for OH's over 70 travel insurance and showed no interest once they realised that we would not buy into any if their various investments.

We switched to Nationwide two months ago and our hefty ISAs will be transferred at the end of this month, too.

10pence

supasaverbob wrote: »

So I phoned the number and have now upgraded to HSBC Advance, but in internet banking the a/c shows as GREEN CURR still, i.e. Green Current Account. Before I ring them, does anyone know if it takes a while to show up on internet banking? I phoned to upgrade about 2hrs ago.

Upgrades are generally done (reflected) over night on HSBC's systems. Chances are you'll receive a new HSBC Advance card in the post too, which will have to be used in 30 days as the old ones will be cancelled by then.