HSBC's New £120 Switch Offer

liamcov

Just a couple of questions about this:

1. I've been accepted and just have the card at the moment. When everything else arrives can I phone them to switch or will they require me to go into a branch with statements etc? Also can anyone confirm no need for DDs?

2. For the ISA offer, I have already subscribed to one this year and have another from a previous year. Am I able to transfer £300 from one of these into the potential new HSBC one to qualify for the offer without actually putting new money into it, or is this something HSBC/my current ISA wouldn't allow?

liamcov

moneysavinggirl40 wrote: »

If you have online banking set up you should be able to log in and then go to savings on the left side of screen, see what account you would like to apply for and fill in application. If it is for thisyears subscription it can be done online, but for me, I wanted to transfer from and old subscribed account a lump sum of £300 so had to fill in paperwork-which I printed and filled in. Will take to branch when I collect my HSBC card, save a postage stamp.

Is this something your old provider allows or is it dependent on individual t&cs?

I want to do this as can't subscribe to a new ISA this year, but I'm just thinking if Santander / Nottingham BS allow this as they were both opened in the past couple of months.

beefturnmail

liamcov wrote: »

Just a couple of questions about this:

1. I've been accepted and just have the card at the moment. When everything else arrives can I phone them to switch or will they require me to go into a branch with statements etc? Also can anyone confirm no need for DDs?

2. For the ISA offer, I have already subscribed to one this year and have another from a previous year. Am I able to transfer £300 from one of these into the potential new HSBC one to qualify for the offer without actually putting new money into it, or is this something HSBC/my current ISA wouldn't allow?

1. I just called the CASS on the phone and agreed a switch date of 19th August. they are sending documentation out to me - no need to go into branch. I just had the card - they may ask you to set up a telephone banking security code if you haven't already done so.

Incidentally, I was asked whether I wanted to do a 'full switch' and close my old account. Make sure you say 'yes' because, as other posters have said, you need to do this to get the switching incentive.

2. I'm not sure on this, but I would want to do the same myself if allowed

Fiddy_Pence

If like me you have no ISA allowance left check out the switching deal Quidco are doing for a Co-op Bank account. It came up in my HotUKDeals email - ends this Sunday (9th August) and the offer is: Quidco cashback is £60 and co-op bank will give you £100 to switch. Obviously I can't post the link - just search for co-op bank on Quidco.
I've pretty much done a lot of the other bank switch offers so might do this one as well. Does anyone else bank with Co-op Bank? Or has anyone else used Quidco?

liamcov

Fiddy_Pence wrote: »

If like me you have no ISA allowance left check out the switching deal Quidco are doing for a Co-op Bank account. It came up in my HotUKDeals email - ends this Sunday (9th August) and the offer is: Quidco cashback is £60 and co-op bank will give you £100 to switch. Obviously I can't post the link - just search for co-op bank on Quidco.
I've pretty much done a lot of the other bank switch offers so might do this one as well. Does anyone else bank with Co-op Bank? Or has anyone else used Quidco?

Yes I did this about 6 months ago, kept it for a couple of months then moved on to M&S. Easy money and the customer service was good (UK phone calls) but their internet banking is dire!

BTW there is another thread specifically about it on here somewhere.

liamcov

The Nottingham says this:

Transfers out to other ISAs only. Subject to charge of 180 days’ interest on the amount transferred

Which would seem I can transfer out just £300 and lose a few pence interest?

eskbanker

liamcov wrote: »

For the ISA offer, I have already subscribed to one this year and have another from a previous year. Am I able to transfer £300 from one of these into the potential new HSBC one to qualify for the offer without actually putting new money into it, or is this something HSBC/my current ISA wouldn't allow?

liamcov wrote: »

I want to do this as can't subscribe to a new ISA this year, but I'm just thinking if Santander / Nottingham BS allow this as they were both opened in the past couple of months.

liamcov wrote: »

The Nottingham says this:

Transfers out to other ISAs only. Subject to charge of 180 days’ interest on the amount transferred

Which would seem I can transfer out just £300 and lose a few pence interest?

Bear in mind that you always need to keep all current year cash ISA money in the same place, so you have the option of transferring £300 from a previous year's ISA subscriptions (assuming provider Ts & Cs allow this) or transferring all of what you've paid in since 6 April 2015.

richdeniro

So I switched a week or so ago, my Barclays account was just over £500 overdrawn and I agreed a £2,000 overdraft limit with HSBC.

My Barclays account has been closed and I've received the letter stating this, I can no longer log onto my old account there and it seems to be gone.

However the overdraft I had does not seem to have moved across to my new HSBC account.

Any ideas if/when that will happen?

liamcov

eskbanker wrote: »

Bear in mind that you always need to keep all current year cash ISA money in the same place, so you have the option of transferring £300 from a previous year's ISA subscriptions (assuming provider Ts & Cs allow this) or transferring all of what you've paid in since 6 April 2015.

I didn't realise there was such a rule - where is this laid out?

beefturnmail

liamcov wrote: »

I didn't realise there was such a rule - where is this laid out?

I think it's in the Government's ISA rules. The problem I have is that when I try to open the ISA online, it wants a deposit. But as I haev already paid into another ISA this tax year I can't do this (not even £1) without breaknig the ISA rules. doesn't seem to be an option to open the HSBC account by transferring £300 from a prior year's subscription and make no new deposit - unless I'm missing something?