HSBC's New £120 Switch Offer

ricz_1

Don't think I'll bother then....

Nationwide8

Yorkshire Pud....Phew !!!!!! Even worse experience than mine !!! So you have to sign up your salary going into the Advance ???

Have a sit down and relax,I honestly wonder if HSBC wants any business treating ppl like this

Dird

ricz_1 wrote: »

My salary doesn't reach the paying in requirement but as other posters have said I can supplement this with saving, plus my partner pays her half of the rent into my account which brings my up to the required amount.

I think the main issue will be that if I have to provide 3 month bank statements from the accounts I'm switching from

If your pay + partners rent meets the limit I'd think that's OK...savings sounds like merry-go-round.

Do banks normally ask for the switched accounts statements? I set up an Advance account over the phone with no mention of statements but not sure if that changes when I go into branch. I won't even create the accounts to switch from until Tomorrow but if they expect 3 months statements (and others don't) then I could see if my Lloyds Easy Saver is switchable or not

Nationwide8

nearlyretired2004 wrote: »

Got my account in branch yesterday - and the ISA - panicked a bit when I got home and read the Ts and Cs carefully - the £1750 has to be deposited in the two months after account opening - I take that to mean I needed to deposit yesterday ....last day of the month and I didnt get out of branch until closing time!

Fortunately I managed to resurrect old online banking details that were still valid even though I closed an old account I had with them years ago!!

SO got the £1750 in last night..... phew!!

Congratulations !! think you're the first one on here who has managed to open an Advance with the incentives !!
Did they ask about salary ? And ask you to pay it into the Advance ?

May I also ask who you were switching from and if you had 3 mth s paper statements ?

Nationwide8

Yorkshire_Pud wrote: »

You don't have to earn enough to pay in £1750 a month from salary.
You do have to mandate your salary, pension to the HSBC account as a condition of opening the Advance account. Really its not in the T&C? Oh it should be blah blah. Anyway it was made clear that I do HAVE to do this even though its not in the T&C. They should be done for this and they will be!;

If HSBC as a brand want to encourage new custom they are going the wrong way about it. Every other provider seduces you with their offer and then hopes you stay, HSBC treats you like a criminal, makes up spurious T&C to suit themselves like you HAVE to mandate your salary to this account even though not contained in the T&C

Sorry YP just 're-read your post VERY much out of order of HSBC not to put this into the T&Cs,would not have wasted my time and effort as I will not pay my salary in there and if I'd have known that I would never have gone into HSBC in the first place !!! Grrrrr

Yorkshire_Pud

Nationwide8 wrote: »

Yorkshire Pud....Phew !!!!!! Even worse experience than mine !!! So you have to sign up your salary going into the Advance ???

Have a sit down and relax,I honestly wonder if HSBC wants any business treating ppl like this

They are unbelievable!

If I get the account and apply for the switch bonus, well that's the only thing I want now, talk about the feel bad factor, I may forget to mandate my regular salary and see if they fail to pay out the £120 even though it won't be in any contract or agreement because its not in the T&C therefore not enforceable? Its to show that you are applying to use the account as your main account even though again there is no actual stated requirement to do so, banks can't enforce it, they have to hope you stay with them and pay a bribe upfront.

Apparently HSBC top the banking complaints league table.

I wonder why?

numbers123

Dird wrote: »

... then I could see if my Lloyds Easy Saver is switchable or not

It's not. Only Current Accounts can be switched using the Current Account Switching Service (CASS).

Nationwide8

Yorkshire_Pud wrote: »

If I get the account and apply for the switch bonus, well that's the only thing I want now, talk about the feel bad factor, may forget to mandate my regular salary and see if they fail to pay out the £120 even though it won't be in any contract or agreement because its not in the T&C therefore not enforceable? Its to show that you are applying to use the account as your main account even though again there is no actual stated requirement to do so, banks can't enforce it, they have to hope you stay with them and pay a bribe upfront.

Apparently HSBC top the banking complaints league table.

I wonder why?

You said you would when they asked but they don't make you do it when you apply ?

Also thought maybe they don't like you switching from YB as mine was a would be switch from YB ? ....maybe they think switch bonus follower ??????

Dird

numbers123 wrote: »

It's not. Only Current Accounts can be switched using the Current Account Switching Service (CASS).

Poop, should be interesting if they ask me for 3 months statements then
I guess Basic Account classes as a CA though?

Yorkshire_Pud

Nationwide8 wrote: »

You said you would when they asked but they don't make you do it when you apply ?

Also thought maybe they don't like you switching from YB as mine was a would be switch from YB ? ....maybe they think switch bonus follower ??????

No it would take me a month or so to arrange but HSBC would open the account and 'accept' £1750 from savings in the meantime.

Its definitely NOT a requirement of the switch offer to pay salary into the account. HSBC just seem so hard line and manipulative to the point that they would just turn off anyone from wanting to be a customer so I can't think of a reason to be with HSBC APART from to get the switch bonus why else would anyone switch, the accounts mediocre, the benefits are laughable and you have to pay in £1750 a month to qualify for..........er..........