HSBC's New £120 Switch Offer

Nationwide8

Yorkshire_Pud wrote: »

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..........

Yep got it YP,you might be OK if you take the docs they want in tomorrow,did they actually offer the Advance as long as you prove with statements you can fund it ? as with me they only offered a Basic acc straight off and there was NO room to manouver offered..

Can I ask is your salary above £22000 per annum before tax ? Because I still can only guess at my salary Being below that as a straight off refusal for Advance..even though I had proof of earnings with a salary slip with me.

All this gives you no confidence in HSBC at all if the conditions are varying from branch to branch and they haven't locked down the rules so it's fair for all.

It will be interesting to see if they pay the incentive if you don't pay your salary in.

What a kerfuffle !!!

gingercordial

gingercordial wrote: »

As for the salary: I have opened numerous bank accounts over the last year or so for switching bonuses and the HSBC Advance is the only one where I was asked to prove my earnings. This was after I'd been asked to go into a branch with the usual ID (passport, council tax bill). I heard nothing for a week then called to chase my application, and was told they needed proof of salary and I had to go back into the branch to do so - they suggested taking my latest P60 and payslip. My salary is well above the threshold so not even a matter of being on the cusp.

Just replying to myself as this may be of interest to others on the salary/eligibility question (though since my application pre-dates the switching bonus, I can't get that).

Having provided my last payslip and P60 a week and a half ago and still having heard nothing, I just called HSBC again. They now want to see a recent bank statement from my current bank which shows my salary being paid in. This must also show my address. The lady on the phone assured me this will be the last thing - I am not so sure.

I will therefore have to go into a branch for the third time now (ID check, first salary check, this second salary check). I have never had to go in three times for any other bank account opening!

sharpharp

If you already have a pre-existing HSBC advance account, can you still apply for the ISA to get the £120 ISA incentive?

Archi_Bald

sharpharp wrote: »

If you already have a pre-existing HSBC advance account, can you still apply for the ISA to get the £120 ISA incentive?

Yes you can

nearlyretired2004

Hi all...

Seen some of your questions....

Yes - it was a gruelling 1hour 10 mins as others have said!!!

Yes they asked about salary - but I said at this stage I wasnt paying my salary (pensions) in directly and my advisor seemed to know that this was NOT a requirement unlike some of the others mentioned in this thread.


Indeed, at the end of the interview I asked her whether it was OK to just fund from savings as my OH ( no salary or pensions) would also like the account - she said that would be fine and invited me to make an appointment with her for my OH.

She mentioned the possibilty of needing to see bank statements but in the end the account was opened without ......


Oh...just remembered - my helpful adviser even suggested that in the event that my OH didnt get the account by failing credit check or something, we could make my account joint and she would get access to the ISA with its free £10 per month that way ....!!

Yorkshire_Pud

I'm not going to challenge the bogus pay your salary into the account condition the branch has made up until after they offer me the account and set it up. If they do:cool:

Then I will ask for a written proof that I must fulfil this condition to qualify for the switch bonus and to quote it from their account T&C.

What is particularly galling is the amount of information they will have got from me and then, no advance account offered possibly or switch bonus.

rail.link

Yorkshire_Pud wrote: »

I nearly walked out. I felt humiliated and treated like I was doing something wrong.

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 and that's wrong to con customers to make appointments, give over financial details upfront that are far more than they need to open a bank account, then can't even give a decision on the day. My application was referred in branch to the Manager, the one who said I had to use current year ISA subscriptions only I don't.

Rotters:D

Maybe they do want criminals; had you said you were a money launderer, they might have rolled out the red carpet ! :rotfl:

ricz_1

rail.link wrote: »

Maybe they do want criminals; had you said you were a money launderer, they might have rolled out the red carpet ! :rotfl:

...or offered you a job.

Nationwide8

Am going to ask them to review my application but doubt I will get anywhere.

Nationwide8

Yorkshire_Pud wrote: »

I'm not going to challenge the bogus pay your salary into the account condition the branch has made up until after they offer me the account and set it up. If they do:cool:

Then I will ask for a written proof that I must fulfil this condition to qualify for the switch bonus and to quote it from their account T&C.

What is particularly galling is the amount of information they will have got from me and then, no advance account offered possibly or switch bonus.

GL for tomorrow !!! and TOTALLY agree with your last point.In fact I wonder if this is part of the whole set up...to get your information,Very annoying.