HSBC's New £120 Switch Offer

Mr_Goodkat

jimjames wrote: »

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.

The advance only remains open if you meet either the monthly or six monthly funding criteria if you fail to do so the account is downgraded.


With Faster Payments in and out it is easy to meet funding criteria even if you have to cycle the same money a number of times

jimjames

Mr_Goodkat wrote: »

The advance only remains open if you meet either the monthly or six monthly funding criteria if you fail to do so the account is downgraded.
With Faster Payments in and out it is easy to meet funding criteria even if you have to cycle the same money a number of times

Yes, I just checked the links and it could be downgraded with 2 months notice if no £1750 paid in each month. Easy to do by adding into the funding transfer process for my other accounts.

trix-a-belle

puk999 wrote: »

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...

Interesting, thanks for posting I applied back at the start of Aug & with repeated chasing I still only got my sort code & account number last week but its still not completely set up yet, I foresee a boot up their bum coming again!

TheTracker

I received my switching bonus on Oct 9th, 102 days after application.

d70cw6

d70cw6 wrote: »

finally got my advance account opened after complaining about them closing my initial application in July for no good reason.

£120 current account switch incentive confirmed
£25 new credit card incentive confirmed
£300 in ISA for the £120 save together bonus
£250 going into the 6% regular saver monthly
£50 compensation for being slow and rubbish

was it worth it?
just

amusingly they messed up the switch bonus in the end and i received £100 as opposed to the promised £120.

another complaint raised and will receive the missing £20 (and another £25 compensation whooty!)

Futuristic

I'm looking into switching a unused account to HSBC Advance, to meet the requirements do I just setup a standing order for £1,750 to come in and then back out again?

Can I sign up for the ISA straight after the bank account is opened as well and then put in £300?

Edit:
Seems like the switch offer ended

moneysavinggirl40

This is to confirm that HSBC do payout £10 per month if you've taken your lump sum of £300 out of your ISA loyalty. I left it with pennies to keep it open, and I also have an open HSBC advance account, that paid out £120 to switch.

Mr_Goodkat

Quick question for anyone who has upgraded rather than opened a new account.


Were you able to do this over the phone without currently meeting the funding criteria?


I have an old HSBC account from my student days that only sees about £100 in and out activity a month other than £500 in and out every time they write to threaten downgrade from Bank to Current account (although seems very little difference).


I want to upgrade to advance for the £120 ISA offer but spoke to them yesterday to be told I couldn't upgrade as didn't meet the funding criteria despite asking if I could upgrade then meet the funding criteria going forward.


Is this correct or was I fobbed off?


I will do the required funding this month and again next month then try again then but wondered if the advisor just didn't fancy going through an application!

Westie983

I had a HSBC bank account that was my first ever bank account probably put very little in it as I use another account for wages, think its was just funding the Regular Saver, then when I saw that the advance account no longer has a fee I run up to upgrade, was asked if I was funding the account with £1750 each month, I replied I can do with my wages, explained that i cant change my wages account but I would send the money by standing order/faster payment and they were happy with that answer and I still only fund the account with the regular saver money the rest of the £1500 goes straight back to my wages account where it came from...

Yes I upgraded an existing HSBC account that wasn't being funded by £1750 but is now...

Mr_Goodkat

Westie983 wrote: »

I had a HSBC bank account that was my first ever bank account probably put very little in it as I use another account for wages, think its was just funding the Regular Saver, then when I saw that the advance account no longer has a fee I run up to upgrade, was asked if I was funding the account with £1750 each month, I replied I can do with my wages, explained that i cant change my wages account but I would send the money by standing order/faster payment and they were happy with that answer and I still only fund the account with the regular saver money the rest of the £1500 goes straight back to my wages account where it came from...

Yes I upgraded an existing HSBC account that wasn't being funded by £1750 but is now...

Thanks, will try again.


Got a survey from them on the back of me using their telephone banking for the first time in about ten years so will see if anything comes of my feedback as indicated I could be contacted by them!