HSBC's New £120 Switch Offer

Olliewood_2

I applied for the account on 30.08.15 which was a Sunday.
I recieved no email or physical correspondence until today 18.09.15. I went into the branch today and was told that my application was dated 01.09.15 which conviniently means I don't get the £120 incentive I only get the 'new' £100 incentive. Also, because they've taken so long (I still haven't got my account details) I'm actually going away and won't be able to receive my online setup details which means I won't be able to set up online banking which means I won't be able to switch my account within the 30 days which means I miss out on the £100 incentive anyway! ! Fuming!

Frank121

Chadsman wrote: »

I am only opening it for the switch incentive and the regular saver.
Where did they post it from? I work away from home most of the time so I have to ask family to look out for post from HSBC or whatever address they send it from.
:beer:

The letter comes from Coventry...not sure if it says it on the envelope because I am away from home too and didn't open it personally!

moneysavinggirl40

liamcov wrote: »

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.

I did this, transferred £300 from an old subscription (ie not this years ISA)to my HSBC ISA and got paid interest and £10 a couple of days ago. It works!

I have now transferred out the £310, but left the little interest in and I hope still to receive £10 a month, hope I do.. anyone else done that?

Westie983

^^ not doing a full transfer to the HSBC ISA, doesnt this mean you have now funded two ISA this tax year.

Although the £300 was part of a previous tax years allowance, was that the full amount in the previous ISA?

dggar

Westie983 wrote: »

^^ not doing a full transfer to the HSBC ISA, doesnt this mean you have now funded two ISA this tax year.

Although the £300 was part of a previous tax years allowance, was that the full amount in the previous ISA?

I suppose it depends on where the £310 was transferred to, but I follow what you are saying about where further ISA funds for this year can be deposited.

dj1471

Westie983 wrote: »

^^ not doing a full transfer to the HSBC ISA, doesnt this mean you have now funded two ISA this tax year.

Of course not. It's previous years' money, not new money being invested in the current tax year.

Anything you do with ISA money from previous years has no bearing on the current year's allowance (so long as you're not withdrawing it and re-investing it, which would be silly).

Westie983

but paying it into the HSBC ISA is counted as new money is it not?

Unless it was a partial transfer from a previous tax year, not sure many ISA allow partial, thought it was all or nothing...

but stand corrected....

colsten

Westie983 wrote: »

but paying it into the HSBC ISA is counted as new money is it not?

Making an ISA transfer [a proper one*] does not count as 'Paying in'.

*A 'proper'ISA transfer is one done by your new provider. Not by yourself.

Westie983 wrote: »

Unless it was a partial transfer from a previous tax year, not sure many ISA allow partial, thought it was all or nothing...

If you transfer any of the current tax year's deposits, you must transfer all of them. That is a legal requirement. Other than that, you can transfer as much or as little as you like, and most ISA provider don't care whether you transfer some or all. However, it would almost certainly be utterly incomprehensible to let money sitting in old instant access cash ISAs as these will pay even more paltry interest than currently available instant access ones.

Please read what dj1471 already said.

sildenafil

Who has been paid the £120 incentive so far and how soon after account opening? From the T&Cs it said the payment would be made within 70 days of account opening (not switch date). I opened the account on the 10th of July which would make today day 73 so I think I am overdue (if I have read the terms correctly).

djpailo

sildenafil wrote: »

Who has been paid the £120 incentive so far and how soon after account opening? From the T&Cs it said the payment would be made within 70 days of account opening (not switch date). I opened the account on the 10th of July which would make today day 73 so I think I am overdue (if I have read the terms correctly).

70 working days or just 70 days?