HSBC's New £120 Switch Offer

dj1471

inspireme247 wrote: »

Wait for a few days for the outcome.

Yep, I got this too. 5 working days...

SDK1958

Did it over the telephone, took 45 - 50 minutes and got a 'No' answer.

inspireme247

SDK1958 wrote: »

Did it over the telephone, took 45 - 50 minutes and got a 'No' answer.

What was the reason?

jrm

SDK1958 wrote: »

Did it over the telephone, took 45 - 50 minutes and got a 'No' answer.

How was the experience? Not wishing to be too inquisitive, but, presumably you met all the qualifying criteria otherwise you would not have applied ?

dggar

Just having a quick scan through the offer and noticed this table




"See how HSBC Advance differs from our other accounts:"


there is an entry:- Worldwide cash withdrawals with no HSBC non-sterling cashfees*3


with this explanation of *3




*3These transactions are subject to a non-sterling transaction fee, currently 2.75% of the amount of the transaction. Some cash machine operators may apply a direct charge for withdrawals from their cash machines. This will be advised at the time of the withdrawal


Does this mean cash can be withdrawn from ATMs abroad in the same way that the Norwich & Peterborough debit card is used?

gingercordial

Bit annoyed as I applied for an Advance account three weeks ago, then got really excited seeing a poster on the Tube on Friday evening for this offer, but see now I won't be eligible. Oh well.

As for the salary: I have opened numerous bank accounts over the last year or so for switching bonuses and the HSBC Advance is the only one where I was asked to prove my earnings. This was after I'd been asked to go into a branch with the usual ID (passport, council tax bill). I heard nothing for a week then called to chase my application, and was told they needed proof of salary and I had to go back into the branch to do so - they suggested taking my latest P60 and payslip. My salary is well above the threshold so not even a matter of being on the cusp.

Still waiting for account documents today and that was a week ago.

Biggles

dggar wrote: »

Does this mean cash can be withdrawn from ATMs abroad in the same way that the Norwich & Peterborough debit card is used?

In the same way, yes. But - as cheaply, no.

They're playing with words a bit here, in that there are indeed 'no non-sterling cash fees' but there is a 'non-sterling transaction fee'. So you'll pay 2.75% for conversion, whereas the N&P Visa Debit is 0%.

Gers

Seems that a switch to HSBC can't be done online, only in branch or over the phone.

Would I be correct in assuming that I could apply for the Advance account online and, if successful, then do a switch to it?

inspireme247

Gers wrote: »

Seems that a switch to HSBC can't be done online, only in branch or over the phone.

Would I be correct in assuming that I could apply for the Advance account online and, if successful, then do a switch to it?

I was concerned about that, so I phoned them regarding my application via online and there was no prompt for switching. They said it will prompt when the decision has been made first.

DragonQ

Gers wrote: »

Seems that a switch to HSBC can't be done online, only in branch or over the phone.

Would I be correct in assuming that I could apply for the Advance account online and, if successful, then do a switch to it?

I guess so. I just applied online via the offer link and have to wait 5 working days to hear back.