HSBC's New £120 Switch Offer

moneysavinggirl40

dggar wrote: »

are you sure the £300 doesn't have to be in the ISA for the full twelve months to get the £10 per month added?

Phone conversation I had with advisor said that if I did an ISA transfer of £300 from previous years subscription then I'd get lump sum of £120 but i will ring again to make sure she gave me correct info. Will let you guys know when I have it confirmed.

henm2

The lump sum transfer of £300 or more into the Loyalty ISA (LISA) triggers off the £10 a month bonus interest provided your current account remains on advance account terms. As per T & C excerpt below. Maximum potential bonus interest is 12 months of £10 a time. Any funds in the LISA are immediately accessible to withdraw again.

'Make one lump sum payment of £300 or more into your HSBC Loyalty Cash ISA and we’ll make an additional interest payment of £10 a month into your HSBC Loyalty Cash ISA, every month, for
up to 12 months.'

mpelson

I called Hsbc today as it's been 3 weeks since I applied online and still no proper confirmation that I've got an Advance account! Said my two signed forms had been received and it wad in the next stage of the process. I should expect the welcome pack by the beginning of the week after next!

Was told that as my account didn't officially exist yet I could not set up telephone or internet banking and to wait for further details to be sent.

That would be over 4 weeks to open a simple bank account - not impressed so far! Hopefully, the £240 and access to regular saver will make it all worth it. Otherwise would told them to forget about it

badger09

moneysavinggirl40 wrote: »

Phone conversation I had with advisor said that if I did an ISA transfer of £300 from previous years subscription then I'd get lump sum of £120 but i will ring again to make sure she gave me correct info. Will let you guys know when I have it confirmed.

She sounds like a very confused advisor :cool:

Many of us have done lump sum transfers and are getting £10 per month, as per the T&C.

chambta

This thread makes for interesting reading. I've had incentives from M&S, Co-op and Yorkshire in the last year so I'm ready for another.

Stage one completed with the simple online application.

I'll update you later (it may be much later as they say normal timescales are extended due to demand).

moneysavinggirl40

mpelson wrote: »

I called Hsbc today as it's been 3 weeks since I applied online and still no proper confirmation that I've got an Advance account! Said my two signed forms had been received and it wad in the next stage of the process. I should expect the welcome pack by the beginning of the week after next!

Was told that as my account didn't officially exist yet I could not set up telephone or internet banking and to wait for further details to be sent.

That would be over 4 weeks to open a simple bank account - not impressed so far! Hopefully, the £240 and access to regular saver will make it all worth it. Otherwise would told them to forget about it

I agree it's been an age, and I have done the chasing. With my card not coming then them saying it will go to branch, then card does come, then expecting phone call in the morning but they didn't ring. they said i will receive switching info pack in post by today but it hasn't so i won't be able to switch until i have read this info, i said can you send it to me electronically and they said no. Just have to wait patiently for bit longer. I forgot to ask about the lump sum of £120 I expect she got it wrong, seeing others have got £10 as per T&C.

Katiehound

I am well pleased so far!
(Thank you to whoever alerted the new Advance a/c details because I read about it in the weekly e-mail)

I applied over the phone and about a week later the welcome pack arrived - this Weds, but not the paperwork to sign. When I phoned to query they said they had a backlog (can't think why!!) and it would probably take another week but quicker to go into a branch. They made an appointment and I went today. Took my utility bill & photo id. We have a convenient local branch.

In an hour: opened a/c- now have sort code & a/c no.
Filled in paperwork for the loyalty ISA with lump sum.
Started the switch process over the phone (their call) and set up telephone banking security. The one glitch was that HSBC wouldn't accept a faster payment with my telephone banking from Halifax so I had to cross the road and withdraw money..... easy enough.

On Monday I have another appt to complete switch process (I didn't have the debit card with me from the old a/c) and to open a regular saver... paying 6%. At the end of a year you can open a new regular savings a/c with the same rate of interest. The a/c switch is quicker if you go in branch as they can print off the docs with no need to post them out. I want it sorted before I go on holiday.

Now I know why it pays to keep 'old' current a/cs!
I have another... shall I switch to Clydesdale? need DDs for that!!

DD123

I applied online at the end of June and was told I'd hear the outcome in 7 days. 14 days later I went in to branch to see what was happening and why I hadn't received any news. They found my application on their systems and we completed the process there and then. Not sure what the delay was actually about. No ID or previous statements needed. The staff were very helpful, but not exactly sure what they were doing. Phoned to do the switch later, which didn't take long and also handed in an ISA transfer form to my branch.

Apart from the initial delay it's all gone fine. I'll just wait and see if the incentives make it to me :beer:

moneysavinggirl40

Transfer of £300 ISA paperwork handed into branch, printed off website and filled in. I would be interested if anyone has put in external ISA transfer of £300 lump sum and once they have received their incentive of £10 taken £299 out, have they still received the £10 the following months? I intend to do that, but unsure if incentive will be given out.

Gilbo_Baggins

moneysavinggirl40 wrote: »

Transfer of £300 ISA paperwork handed into branch, printed off website and filled in. I would be interested if anyone has put in external ISA transfer of £300 lump sum and once they have received their incentive of £10 taken £299 out, have they still received the £10 the following months? I intend to do that, but unsure if incentive will be given out.

Honestly for the sake of about £7 over a year of that £299 being in another account I'm not sure it's really worth it. I'll be leaving it in there.