📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

HSBC's New £120 Switch Offer

Options
1131416181971

Comments

  • Nationwide8
    Nationwide8 Posts: 362 Forumite
    Hung up my suit!
    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 ....!!

    Good for you !! It really sounds as if some aspects vary from branch to branch.

    Can I ask, what bank you were switching from and if you have a First Direct or M&S account.

    Sorry to be inquisitive,but am still trying to figure out why I was outright refused the Advance when checks must have been OK for them to offer Basic
  • No problem....

    Switching from Clydesdale .... (I was only quick enough to get three of those ....I'm not in YorkshireBoy's league !!)

    and I have a First Direct account - un-used except to fund regular saver (note to self: it just matured....need to set up another one...)
  • Hi

    Have had a quick read through HSBC's web page for this offer and the eligibility and application criteria, but still a bit confused.

    It seems contradictory. It says you can apply online. But then it goes on to say that "unfortunately at this time you cannot switch to the Advance account online"... only in branch of by telephone.

    Can you open the account online first, get sent the paperwork and then phone the switching line afterwards.

    Or is it easier/preferable (possible) to apply for the new account and the switching all in one phone call?

    Do you have to say you are transferring an "active" current account and that you will be paying your salary in? I just have a spare Yorkshire/Clydesdale account to switch which is not my main account and doesn't receive any payments in at the moment.

    Many thx.
  • Sorry, also re the ISA account I'm confused because this seems to call for regular monthly payments. I believe I would not be eligible for this because I have already subscribed this year's allowances elsewhere.

    However, I have read in this thread other people saying you are eligible if you switch an old ISA, but I can't see how this can be done if the HSBC ISA requires regular monthly instalments?

    Pls can anyone clarify? Many thanks.
  • Yorkshire_Pud
    Yorkshire_Pud Posts: 1,966 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Just used the HSBC online feedback form to tell them what I feel about my experiences.

    No doubt they will ignore it so as to maintain their postion as number one bank for complaints in the UK. Then again....;)
  • dggar
    dggar Posts: 670 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    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 ....!!


    Are you willing to tell the forum which branch you attended?
  • jayjay21
    jayjay21 Posts: 92 Forumite
    Stoptober Survivor
    I'm going to get a switch from Yorkshire sorted soon and fund the account myself, the person on the phone told me that the account has a £10 monthly fee? So would not want to keep it open for too long.

    Also wanting to do the ISA for the rewards, am I able to keep the ISA and close the current account once I have got the £120?
  • dggar
    dggar Posts: 670 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    jayjay21 wrote: »
    I'm going to get a switch from Yorkshire sorted soon and fund the account myself, the person on the phone told me that the account has a £10 monthly fee? So would not want to keep it open for too long.

    Also wanting to do the ISA for the rewards, am I able to keep the ISA and close the current account once I have got the £120?

    As I read it you need the account to have the ISA, and to get the ISA bribe you need to keep it going for 12 months.


    This is the first I've heard about £10 monthly fee. Other posters have reported inconsistent information from HSBC staff being given out, and making up variations on the published Terms and Conditions.
  • Biggles
    Biggles Posts: 8,209 Forumite
    1,000 Posts Combo Breaker
    jayjay21 wrote: »
    I'm going to get a switch from Yorkshire sorted soon and fund the account myself, the person on the phone told me that the account has a £10 monthly fee? So would not want to keep it open for too long.

    Also wanting to do the ISA for the rewards, am I able to keep the ISA and close the current account once I have got the £120?
    The Advance a/c used to have a fee but this was cancelled at the end of last year.

    The ISA pays you £10 each month you pay in £25 or more, for 12 months.
  • Dird
    Dird Posts: 2,703 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    jayjay21 wrote: »
    I'm going to get a switch from Yorkshire sorted soon and fund the account myself, the person on the phone told me that the account has a £10 monthly fee? So would not want to keep it open for too long.

    Also wanting to do the ISA for the rewards, am I able to keep the ISA and close the current account once I have got the £120?

    There's no monthly fee & you need to keep it open while you want the ISA
    Mortgage (Nov 15): £79,950 | Mortgage (May 19): £71,754 | Mortgage (Sep 22): £0
    Cashback sites: £900 | £30k in 2016: £30,300 (101%)
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.1K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599.1K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.