HSBC switch offer - £120 - apply by 28/02/16

Tragen

to be fair, ive not waited more than 5 mins even though they say 25 mins

Jennifer_Jane

£50 compensation for all the bother (I think I should have asked for more, but initially the man I spoke to offered £20). I was almost in tears as I convinced myself it had all been so very awful (actually it hadn't been either pleasant or easy, and I'd had to rush to the next town in order to get the switch done in time - as the T&C's say "complete" in 30 days), no-one answering phones (20 minute waits on two occasions).

As per others, I would suggest going into a branch. Doing it online was just a nonsense, things took ages to arrive, or just didn't arrive: they had no way of contacting me (surely that would have been on the application form, and if not, well how stupid).

So it's been a real mess - hmmm. Wishing I'd asked for £100 comp now.

Must say, however, the staff in both branches that I went into were lovely (because the website directed me to my local branch, but only when I went to it did I discover that they had no customer service person) as was the Asian-sounding man who sorted out the final problem, including sorting out the compensation.

Tragen

£50... I think I'd definitely push for more, I've already spent about half a working day on getting it sorted and it's been quite stressful.

Nationwide8

Hmm are incentive payments taxable ? Do you have to declare them on a self assess form and do they count as part of you £1000 non taxable interest from April ?

Just a thought.

Tragen

Nationwide8 wrote: »

Hmm are incentive payments taxable ? Do you have to declare them on a self assess form and do they count as part of you £1000 non taxable interest from April ?

Just a thought.

As far as I know, no it is not taxable as you are technically purchasing something. A bit like (or exactly like) buying something and then getting cash back.

djpailo

I was going to do this, but eventually decided against it. By the time I opened up a basic account to switch, having read the comments here, it'd be touch and go whether I'd make it.

rich_jtg

The 30-day limit certainly seems like a con.

I received confirmation that my account was opened on 12/1/16, and then last week get a letter asking me to go prove my identity.

The 30-day deadline approaches, and I haven't even received the telephone security number.

Can you start the switch without it?

brila

*djpailo* I think you could definitely do it, as long as you can get to a branch. I gave up with the online fiddle and did the whole thing in town. As long as you have a debit card for the account you are switching from, they can arrange the switch at the same time you open the account. Take ID with you as well. You need 7 days notice for your switch date. My HSBC debit card arrived the morning after I opened the account in person and they set the online banking for me in branch when I opened it. The whole thing took 20 minutes in a branch with a live human being.

I suspect they are being a bit slow with the online applications because they don't want loads of charlatans like us opening the account just for the reward. But this particular charlatan is happy to walk into town for £120 and free tea and biscuits.

[Deleted User]

Well, I hope I'm there.

Applied online for the "bank account" (the basic one, not the Premier or Advance accounts) with no overdraft on Wed 6 January. Told online that my application had been successful, and given application reference number but no sort code or account number.

On Friday 8 January, I received a letter with specimen signature form for me to sign and return (posted back on 9 January). The letter quoted an account number and sort code, but no indication that the account was open.

Nothing more heard, so I visited the nearest branch on Monday 18 January (without appoitment) where I quickly got to speak to a pleasant young lady who said that my application was "on hold" until 21 January. She confirmed that my account was not yet open and so she couldnt arrange a switch but suggested I come back in to the branch after 21 January.

On Sarurday 23 January I received debit card, but no PIN until Wednesday 27 January. On same date (Wed 27 January) I received a "welcome ro HSBC" letter (dated 21 January), with sort code and account number quoted (but no actual confirmation of date account was officially opened).

Hotfooted it to the local branch on Friday 29 January (again without appointment) where I got to see a pleasant young lady who was "in training" and was being supervised by an older gentleman staff member. Explained that I wanted to switch my Clydesdale current account to my new HSBC account. I had brought my "old" Clydesdale debit card, my new HSBC debit card, passport for identification and recent statement from Clydesdale account. Switch very quickly processed. Date for switch selected as Monday 8 February. Got given a ream of paperwork regarding the switch process to take away. I asked for confirmation of the date when my new account opened and was told 21 January (as I had suspected, but which had never actually been given in writing). The pair of staff, who couldn't have been more helpful, offered to sign me up there and then for online banking but they couldn't as the system was "down" (this being the morning of the HSBC outrage). Embarrassed staff! I managed to sign up myself on Saturday 30 January (given physical security key by the young lady on 29 January).

Today (8 February) my balance has transferred from Clydesdale to HSBC. Nill balance at Clydesdale.Switch completed comfortably within 30 days from the account opening date of 21 January.Now just waiting for the incentive to be paid into the account....per T and C's, it should be paid within 70 days of the account opening, which could be late March.

Not impressed by the speed, but but branch staff very helpful, I cannot fault them. A lot of patience is required and I suspect that I would not have got here if I hadn't been able to visit a branch.

Flip_Mode_2016

This has been the most frustrating switch incentive I've done, and I have done several.

To access the bank account can be frustrating with having separate passwords for online banking, app banking then you have to have a phone verification id and now to complete the switch I have to visit a HSBC branch to provide my signature even though I have already done so via post. Never done this before with a switch.

Everything about HSBC seems strange compared to Nationwide, Halifax, Santander etc but then again M&S felt strange too....are they related?

It'll be hello £120 and goodbye forever HSBC