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

financialbliss

Hi. Late to this party but been following this thread for a few days…

• Applied on 27th Jan for a HSBC Advance account
• Signature request arrived 30th Jan – returned 1st Feb
• £120 switching offer received 6th Feb

And that’s all to date. So I decided to pop into branch today. Very scarily, all they wanted for “id” was a comparison of my signature on file with a specimen signature taken today. No driving license or any other form of id check.

Managed to get DigiPass fob, internet banking set up and logged in to check it worked OK while with adviser. Asked about switching and was advised that while I could initiate this online, I’d be best placed to arrange a branch appointment as he advised that the online process often stalled due to requiring additional paperwork. When pushed, he said I’d need to supply 3 months worth of bank statements from the switching-in account. Can see why they’re doing this – to minimise the £120 payout to genuine switchers only – my donor account was a newly created account for switching as I’ve got no free accounts to switch.

The fallback position is that I get access to the HSBC 6% regular saver to compliment the FD and M&S 6% regular savers, but has anyone else been asked to supply 3 months worth of statements? Worth trying to switch anyway despite my donor account being a new / clean account?

Oh – and when I got in from work today, I got a “Please supply a unique HSBC bank security number…” letter. Good god, this is glacially slow compared to other banks...

Jakg

financialbliss wrote: »

Asked about switching and was advised that while I could initiate this online, I’d be best placed to arrange a branch appointment as he advised that the online process often stalled due to requiring additional paperwork. When pushed, he said I’d need to supply 3 months worth of bank statements from the switching-in account. Can see why they’re doing this – to minimise the £120 payout to genuine switchers only – my donor account was a newly created account for switching as I’ve got no free accounts to switch.

If this isn't in the terms of the offer (I don't think it is) - then no need.

Jakg wrote: »

Apparently someone from the switching team will call tomorrow - but I don't expect to get much sense from them as I don't have an account number.

No-one called.

I've now missed the 30 day window and I don't even have a debit card, account number or online banking details yet...

Ashen

After applying, I had a letter saying some of my details were incorrect - made an appointment for this afternoon in branch, and they had no details of my application. Great system they seem to have...

I've now applied in branch, it looks like my account is opened, and switch is scheduled.

derrick

I have done other switches which I am sure have taken less time than this one, however I applied over the phone and when the switch is complete it will have taken 5 weeks and 1 day. The following is a chronological order of events:-

11th January I applied for the account over the phone and was told I was successful and paperwork re specimen signature would be sent out.

23rd January, (Saturday), paperwork arrived which included my account number and sort code, plus my customer ID from the original phone call, I signed it and returned, although being a Saturday it would not have been picked up until Monday 25th January.

28th January I phoned to check on progress and to see if the paperwork had arrived, it had and I was assured that the incentive would be paid as I had applied during the offer period and as long as the switch started within that period there would not be a problem.

01st February I phoned and set up my telephone pin and requested the "secure key", I was told this would be sent out to me within 5 working days.

03rd February debit card arrived, I called HSBC to confirm account opening date and was told this was 01st February. I asked to be transferred to the account switching team who told me they needed to send out the switching terms then they would call me back to arrange the switch, a provisional switching date was given as 16th February and they would call me Monday morning 08th February to confirm receipt of switch terms and to start the switch.

05th February PIN arrived.

06th February "secure key" arrived.

08th February they had not called me in the morning so I called them at 1420, told them the terms had arrived, (they hadn't but they are the same as all others), and they started the process with a switch date of 16th February.



.

funky04

My Hsbc experience

Branch app 8th Feb, advance acc declined prob due to income not sufficient, so opened normal bank acc instead. No other Hsbc accs but have got fd curr acc. Online and tel banking set up and security token rec and activated to ensure all working OK. Deposited funds when got home and reg saver opened myself online as had account details from branch visit.

Switch set up for 17th Feb. If you have branch app don't forget to take your switching debit card with you as they need the 16 digit numbers and expiry date on card.

I took all ID with me but wasn't asked for prob because already had fd account or because I'm poa on my mums acc and they have my ID on their system already.

Hope this helps, no hassle for me so far.


S

MisterMotivated

Flip_Mode_2016 wrote: »

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

I completely agree, I've had one problem after another and been given the wrong information on numerous occasions.

Jennifer_Jane

I hope you are all phoning to complain, and not accepting the first amount they offer.

guesswho2000

Update: after my OH applying in December, the card not turning up and being told she wasn't eligible, as the switch couldn't be completed on time (because the card didn't turn up!), they honoured it in writing after a complaint and the £120 appeared in her account today.

One of the more painful switches, but it worked out in the end!

Jennifer_Jane

My switch to HSBC was due to go through on Wednesday, 10th Feb. I phoned today and there is no sign of a switch going through: simply no mention of it whatsoever. The switch team only work 08:30 to 18:00 on weekdays, so I cannot sort it out till next week.

I am so furious with HSBC: what kind of bank are they that they cannot even do a simple switch. They cannot properly manage stuff online, and I had gone into the branch in the next town to get it - and the switch - all sorted out to be in time for the T&C's.

They are (as everyone has said), absolutely the most useless bank I've come across (and I've currently got about 8 open accounts, so I'm fairly well experienced).

I only hope there is some more compensation to be negotiated!

Flip_Mode_2016

MisterMotivated wrote: »

I completely agree, I've had one problem after another and been given the wrong information on numerous occasions.

I informed HSBC online when I applied for the current account that I wanted to switch a spare Nationwide current account. I gave the account number and sort code but several weeks later did not hear anything from HSBC or Nationwide to say the switch is progressing. I contacted HSBC and finally spoke to a person on the switch team who informed me that I didn't tick two boxes authorising that I wanted the Nationwide account switched. Couldn't believe that I wouldn't tick two boxes and asked for prove which couldn't be provided. The advisor said for HSBC to send me forms to complete would take me past the 30 days limit. I told them I wished to close the account as they had wasted my time as they should have notified me IF I didn't tick two boxes BUT did supply a switch-able account.

Next day I thought I'd complain after reading people have been compensated. The new advisor apologised and said she would authorise the £120 incentive, even though it's past 30 days, and I didn't need to go to my local HSBC to provide a signature.

MisterMotivated complain and see what happens.