HSBC's New £120 Switch Offer

eskbanker

inspireme247 wrote: »

Should be this:

"But you can only open one cash ISA a year."

You can have both cash ISA and S&S ISA, as long you are under the allowance limit.

Am I correct?

Nearly - you can only pay new money into one cash and one S&S ISA each year, you can open as many new ones as you want each year if they're only going to be funded by transfers of prior year contributions. And to be even more pedantic you can transfer current year subscriptions too and open even more if you're minded to do so....

ceredigion

it's not available to existing HSBC current account holders

Arrr
That is TSB and HSBC that wont be coming my way, only a joint account with HSBC for the wives pin money . Need to read the T&C to see if I can close one and open another.

colsten

ceredigion wrote: »

Arrr
That is TSB and HSBC that wont be coming my way, only a joint account with HSBC for the wives pin money . Need to read the T&C to see if I can close one and open another.

Keep your powder dry until you have seen the HSBC switching T&Cs.

fuzzgun19

Does anyone know if HSBC would take a customer back where they closed their account?

They closed my account about 15 months ago due to me going overdrawn (unauthorised). I've since transferred all my DDs to another bank with a small buffer.

gt94sss2

starM wrote: »

Interested - Have you read this somewhere or HSBC told you about this offer?

The official HSBC press release

Regards
Sunil

colsten

fuzzgun19 wrote: »

Does anyone know if HSBC would take a customer back where they closed their account?

They closed my account about 15 months ago due to me going overdrawn (unauthorised). I've since transferred all my DDs to another bank with a small buffer.

They might take you back, they might not. Only way find out is if you are eligible to apply again. But wait to see what switch terms say once they launched their offer.

norm_

I find it hard to believe with the £120 ISA offer already on the table HSBC needed to add another £120 to it.

People must really not like switching bank accounts.

Herbalus

It's a good offer, but all of the savvy lot on here with the £120 ISA unfortunately won't be eligible. It's only on new accounts that are opened from 29 July onwards, and not for existing customers.

Dird

Herbalus wrote: »

It's a good offer, but all of the savvy lot on here with the £120 ISA unfortunately won't be eligible. It's only on new accounts that are opened from 29 July onwards, and not for existing customers.

You mean June :P luckily I hadn't seen any ISA deal before, off to open 3 new current accounts at Lloyds on Monday then probably pop into HSBC to ask about any DD requirements

Zanderman

Dird wrote: »

You mean June :P luckily I hadn't seen any ISA deal before, off to open 3 new current accounts at Lloyds on Monday then probably pop into HSBC to ask about any DD requirements

Not sure that opening three new Lloyds accounts (presumably to switch) will help you. Looks like it's one £120 incentive per person at HSBC.

T&C not yet available but the press release is (link in a post above) and that states:

£120 is available to anyone who is not an existing HSBC current account holder though they may hold a first direct and/or an M&S Bank account. A full switch must be completed using CASS within two months of the date of opening an HSBC Advance Bank Account. £1,750 must be paid into the Advance account each month in the first two months after opening the account and does not include money transferred from any other sole or joint personal account(s) with HSBC Bank. The offer period is 29 June 2015 until 31 August 2015 but it may be withdrawn before the end date. Advance notice will be given on the website if this occurs.

On that basis, as soon as you open one HSBC account (for the offer) you disqualify yourself from further uses of the offer.

Full T&C will be available soon - but that wording looks fairly definitive!

(And, of course, you'll only be able to do the £120 for the ISA once too)