HSBC's New £120 Switch Offer

dggar

romanian_bird wrote: »

Not sure what you mean... to keep this account you need to transfer in each month £1750, even after you get the £120.

Maybe I misunderstood what you were saying

romanian_bird wrote: »

She said 'no problem', but I needed to transfer in more than £1750 each month.

I took that to mean that an amount greater than £1750 per month had to be transferred.

colsten

eaustin wrote: »

I have an old co-op account that has not had any activity on it for months/years. Will there be any issues in 'switching' this (assuming I'm accepted for the account in the first place)?

The biggest hurdle is to get accepted for the Advance account in the first instance. What you switch afterwards isn't so important - but it may be an idea to put, before your switch, some money into the account you want to switch, and to set up one or two SOs on it, so there's at least semblance of a used account.

Yorkshire_Pud

eaustin wrote: »

I have an old co-op account that has not had any activity on it for months/years. Will there be any issues in 'switching' this (assuming I'm accepted for the account in the first place)?

They only gave a cursory look to my three statements, there were no DDs SO and just a few transactions. He didnt ask how long I had the account until after I was accepted for the Advance account, I even got that wrong said three months, he laughed.

The answer to is this your MAIN account is a confident YES.:D

They are looking for good prospects and more customers but still selective. At the end of the interview it is the computer that says yes or no or referred to manager who said YES IF you mandate your salary so I said yes I will.

romanian_bird

dggar wrote: »

Maybe I misunderstood what you were saying

I took that to mean that an amount greater than £1750 per month had to be transferred.

Got it. It's 'at least' £1750.

Roseanne1

I've been thinking about this deal for a while now and am quite tempted to go for it. Just a question about the 6% regular saver. Has anyone had one of these accounts and come to the end of the 12 months where the interest rate drops? Can you open a new regular saver with the same bank and get the 6% for a further 12 months (if they are still offering that rate of course). When they say the 6% is for 12 months is that from the date of opening the current account that makes you eligible for that rate or from the date of opening the regular saver itself?

colsten

Roseanne1 wrote: »

Can you open a new regular saver with the same bank and get the 6% for a further 12 months (if they are still offering that rate of course).

yes you can at HSBC

Roseanne1 wrote: »

When they say the 6% is for 12 months is that from the date of opening the current account that makes you eligible for that rate or from the date of opening the regular saver itself?

the latter

Roseanne1

colsten wrote: »

yes you can at HSBC

the latter

Thanks very much. I might hold off with the regular saver then for a while. I have already got ones with Halifax, BOS and FD so am spreading myself a bit thin as it it. :rotfl:

ultim

Have completed my application online but i was not given an option to switch. Will they offer me this later?

ST-User

Nationwide8 wrote: »

Not impressed,went into a HSBC branch this morning,a hour 20 mins later only offered the Basic Current account not the Advance.
Never been rejected for ANY account or switch before,have no idea why this rejection ????

Only thing I can think of is they want people earning over £1750 a month after tax... and proof you earn this.

The same story for me today. After waiting for the decision of the online application, I went into a branch today. First I said only that I wanted to open an Advance account with a switch, not mentioning the online application. They were happy until I said that I've got my savings on various bank accounts and did not close all of those accounts. Also asked for bank statements, showing that I have 1750 pounds salary in my account. Then they found my application that was declined and I was offered a simple bank account only, not the Advance.

They can say anything in T&Cs, the truth is that they are after people who earn over 1750 net a month, obviously to sell them something later, e.g. a mortgage.

What do you think, is it worth trying to open an account at First Direct now?

ST-User

DragonQ wrote: »

Nope, no explanation. Just offered me a basic account instead.

My wife says that everybody with this answer should open the basic account offered and switch it to another bank after a month :beer: