HSBC's New £120 Switch Offer

Nationwide8

Just to be clear nowhere in the published T&Cs does it say you require an income of £1750 to be approved for the account.That part seems to be included in their internal checks.If they owned up to that T&C in the ones made public many would not have applied in the first place.

starM

I think people who applied in branch after spending nearly over an hour of there time and then told this account cannot be offered because salary of at least £1750 required. Should make a complaint as this is not mentioned in there terms and conditions otherwise they wouldn't have visited the branch etc.

Nationwide8

starM wrote: »

I think people who applied in branch after spending nearly over an hour of there time and then told this account cannot be offered because salary of at least £1750 required. Should make a complaint as this is not mentioned in there terms and conditions otherwise they wouldn't have visited the branch etc.

You can't prove it though as its never been given officially as the reason and no one knows what the internal credit scoring consists of,think only one person on here has actually seen it in black and white the internal list of the acceptable sources for the the £1750 which does NOT include savings but no copy.

All HSBC have to do is make it plain in the public T&Cs that the £1750 CANNOT come from savings but that of course would stop many people applying,HSBC getting all your details and offering you a Basic account which some will take.You may conclude the offer of Incentives are a hook to get you through the door when they already know many will fail the internal checks.

Yorkshire_Pud

About half my monthly funding of the Advance account will come from Savings and I stated this during my interrogation/application in branch after which the computer referred the decision and the branch manager OK'd it as long as I brought in documentary evidence that I had the savings to do it.

Its is only their Premier account that requires salary.

Even though I got the account I did send a harshly worded 'feedback' form back slating their approach to customer service and rather unethical luring applicants in using wide criteria then applying their own on the hoof or secret criteria leaving many clients high and dry.

This is an old fashioned bank that hasn't yet grasped that straightforward good customer dealings without manipulation and devious strong arming is what encourages customer satisfaction and loyalty.

Example : TSB monthly saver 12 months at 5% you can withdraw partial funds anytime during the 12 months without loss of interest but not replace withdrawn funds.

HSBC Regular monthly saver at 6% if you want or need to withdraw any funds within the 12 months you get 0.1% and account closed:eek:

DragonQ

Yorkshire_Pud wrote: »

Example : TSB monthly saver 12 months at 5% you can withdraw partial funds anytime during the 12 months without loss of interest but not replace withdrawn funds.

Wait, what? Why did I not know about this regular saver? I currently have First Direct, Lloyds and M&S, and am hopefully about to get HSBC's too. I'd better open a TSB one ASAP!

Voyager2002

jhyt89 wrote: »

don't bother. I think their internal scoring rejects anyone with more than one other account with another bank. I meet all requirements but failed in my attempt to upgrade from the current account to the advance account. Go with another bank. I'm going to leave too. Absolutely useless.

No. I was accepted last week, and I have a good number of accounts with other banks (Club Lloyds; TSB times two; and three others that I use for actual banking). As it happens, my annual salary at the moment is about 10,000 but that is not what I told them.

Voyager2002

Evidently I was lucky...

I applied in branch on 29 June. They did all their identity checks and credit scoring on-line so did not need to look at any of the documents I had brought with me. No request to look at bank statements at any stage (I did not have any with me). Thanks to this forum I knew that it would not be good to say that I would fund the account with transfers from another account (which is what I would do): I gave vague details of three sources of income (a living allowance; a budget for project expenses; rental income from property) with no kind of proof, and that was fine.

The only hiccup was when I had to give details of the account from which I was transferring and so would be closed as part of the switching process. This is an old account that I don't use for anything, and I had brought along a debit card so that I would have the account number and sort code. I was also asked for the number and expiry date of the debit card, at which point I found that it had expired two years ago! She said that the whole application would fail if I could not give a valid expiry date for my debit card; I had no way round it and so she went to check with her manager; she returned saying that the manager had confirmed that the debit card problem meant that my application could not proceed. At this point I insisted that she go back through the different screens of the application process, and soon we found that after the screen where she entered details of the account to be closed, she could enter "yes" or "no" to the question whether the account had a debit card. I made her change the answer to "no", and then everything was fine.

So it looks like I shall get the full £240, but it took more than an hour. My time has to be worth more than that.

nearlyretired2004

Having considered myself one of the 'lucky' ones who got this account, (last Tuesday in branch) I just received a call from them saying they wanted to talk to me about how I was going to 'use' the account.

After asking how long it would take and being told at least ten minutes (!!!!!) I said it was not really convenient and they are calling me back later in the week.

Has anybody else received a similar call having had the account opened and if so what sort of grilling did they receive?

DragonQ

nearlyretired2004 wrote: »

Having considered myself one of the 'lucky' ones who got this account, (last Tuesday in branch) I just received a call from them saying they wanted to talk to me about how I was going to 'use' the account.

After asking how long it would take and being told at least ten minutes (!!!!!) I said it was not really convenient and they are calling me back later in the week.

Has anybody else received a similar call having had the account opened and if so what sort of grilling did they receive?

Probably just marketing data gathering.

nearlyretired2004

I would have thought they got all the 'market data' they could out of me in the 1 hour 20 min - ish in(terrogation)terview last week!!

Anyone else had this call??