HSBC's New £120 Switch Offer

moneysavinggirl40

I got my switch bonus last week. Started application end of July.

Katiehound

neas wrote: »

GOt paid yesterday woop. Is the £120 isa offer still on?

YES.... but get it organised now. The schme is ending, so open the ISA pdq and either pay in the lump sum or the £25
I had a letter from HSBC- dated Oct 2015

"Withdrawal of Save Together"
on 11th December 2015 Save Together will be withdrawn from those customers who haven't made an eligible payment into their HSBC Loyalty Cash ISA.

If you have made eligible payments they will continue to pay £10 pm for the remainder of the 12 month period

Actually I have been well pleased with the opening and switching etc- it was worth every minute of 2 x 1 hour spent at the branch because I came away with everything sorted. Since then they do seem keen on chopping down more trees!- paper seems to come very regularly and in mountains!! but I can live with that!- £265 well earned!! and the regular monthly saver high interest rate too.
Big thanks to the weekly MSE newsletter for alerting me to the whole deal

JeffreyR

I think I've seen ads for this...might be the first time HSBC are offering this so be interesting to see uptake, although HSBC aren't much known for their customer service...seem to have one of the lowest rated current accounts on a few places like this review site top current account table and this one too

m0bov

I applied two weeks ago, not heard a thing.

Katiehound

m0bov wrote: »

I applied two weeks ago, not heard a thing.

Well, the last switching deal...can't remember when it ended exactly because I was well within the timescale... they were utterly inundated hence the huge delay plus allowing time for stuff to arrive in the post.
If you are in a hurry go into a local branch- mine were just so helpful (and instant).

blindman

blindman wrote: »

Thanks, did not see that as an option.

However as we both work 9-5 and nowhere near a branch it's a PITA.

However :cool:

Token thing arrived today so 5-7 working days as promised.

Unfortunately HSBC are not with the Faster payments so transfer will go tomorrow.
No biggie but most other banks are instant (except N&P who do not work after 5PM or at weekends :sad:)

Switch is in progress now for both accounts so after all the effort now need to sit back and reap the rewards.

Update
Both accounts + ISA's have finally got the £120 per account.

That was hard work:cool:

puk999

d70cw6 wrote: »

£50 compensation for being slow and rubbish

I also got and extra £50 out of them. I applied online on the 10th September. Website said they're busy and they'd get back to me in 7 days. Called them on 24th as I'd heard nothing and they said something should arrive in the next day or two.

On the 30th September got signature forms and returned same day.

Heard nothing again. Emailed them a complaint on 7th October and asked what was happening and if any goodwill gestures might be forthcoming. Had missed calls from a very nice lady on 8th and 9th. Eventually spoke on the 9th. She was apologetic, said they were very busy, they'd credited my account with £50, and despite the delays, I'll still get the incentive when I come to switch my account across to them. Received a long letter the next day reiterating this. Debit card arrived today. Certainly one of the most long winded account openings in memory.

Hoping to do the Save Together ISA and 6% regular saver too...

hollie.weimeraner

Just wondering now I have the switching money, if I don't pay in the £1750 a month am I likely to lose the £10 monthly payment into the ISA's

Westie983

hollie.weimeraner wrote: »

Just wondering now I have the switching money, if I don't pay in the £1750 a month am I likely to lose the £10 monthly payment into the ISA's

You will need to continue to fund the advance account to qualify for the save together funding, although I suppose you could be okay if you fund your account every six months with £10500.

From my understanding of the T&C's if you dont keep up with the funding of the advance account then you get downgraded (with two months notice) and you will no longer be eligible for the save together offer.

Advance Account T&C's

Save Together T&C's

A few scrolls down on Save Together T&C's shows the following.

If after activating the Save Together offer you no longer hold an HSBC Advance Bank Account or HSBC Loyalty Cash ISA, you will no longer be eligible and this offer will end. Please see the Save Together Terms and Conditions for full details.

jimjames

Westie983 wrote: »

You will need to continue to fund the advance account to qualify for the save together funding, although I suppose you could be okay if you fund your account every six months with £10500.

I'll have to check the T&Cs again.

I wasn't aware that you needed to continue funding beyond the 2 months for the £120 Advance account payment. The only stipulation I could see was that you needed to keep the Advance open.