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

Tragen

My second switch date is the 24th, and I've had a letter in the post from the other bank (co-op) with account closure notification, so it's looking promising this time!

brila

Switch went through today with no issues. Just waiting for the £120 now!

mrssjs

I've just logged onto online banking for the first time. My switch is due to happen tomorrow. The £120 is already in my account!!

Zanderman

Jennifer_Jane wrote: »

Yes, but you don't need the debit card to do the switch. So phone them and be very cross with them and they can get the switch done, give you compensation, and ensure you get the incentive (and I got wine too, and Danson above got flowers). You have only 30 days from account opening date (not the day you receive the letter in the incredibly slow post) to COMPLETE the switch, and you need 8 (7 for the actual switch) days for that..

I've done the phoning and being very cross. Several times.

And, on principle, I'm not initiating the switch until I have full access to the account (i.e. have the debit card). They should understand this is a reasonable position to take.

My approach, having got this far and become completely p***ed off with their rubbish phone assistance, is to write a good old-fashioned letter - which I have done. Which I am sure will, eventually, catalyse appropriate action. And it's so much more satisfying in writing.

mrssjs

Zanderman wrote: »

I've done the phoning and being very cross. Several times.

And, on principle, I'm not initiating the switch until I have full access to the account (i.e. have the debit card). They should understand this is a reasonable position to take.

My approach, having got this far and become completely p***ed off with their rubbish phone assistance, is to write a good old-fashioned letter - which I have done. Which I am sure will, eventually, catalyse appropriate action. And it's so much more satisfying in writing.

I actioned the switch on the phone and mentioned I didn't have my debit card, she sounded shocked I wanted one (?!) but she ordered it and I received it 2 days later.

colb15

There seems to be no consistency with paying the bonus. Have people go theirs quickly and had you met the transfer requirements of £500 beforehand?

mrssjs

colb15 wrote: »

There seems to be no consistency with paying the bonus. Have people go theirs quickly and had you met the transfer requirements of £500 beforehand?

I haven't paid in £500 it isn't mentioned in the eligibility criteria?

Eligibility Criteria for this offer
3. We will make the Offer Payment described below if you comply with all the following
requirements, namely:
a) if you apply for an Eligible Account in the UK, the Channel Islands or the Isle of Man
during the Offer Period. The Offer Period is 29 December 2015 until 28 February 2016.
Any applications received after the expiry of the Offer Period will not qualify for the Offer
Payment. We may withdraw this offer before the end of the Offer Period. We will in
advance of doing so, put a notice on our website.
b) if the Eligible Account for which you applied is successfully opened;
c) if you are not (and have not within the previous 6 months been) an existing HSBC current
account holder when you apply for an Eligible Account (you may however hold a first
direct and/or M&S Bank current account and still qualify). If you are opening a joint Eligible
Account , this requirement must be met by at least one account holder;
d) if you complete a full switch of a current account to your Eligible Account using the Current
Account Switch Service (CASS) within 30 days of the date of your Eligible Account being
opened. If you are opening a joint Eligible Account both account holders must do this; and
e) provided you continue to hold an Eligible Account on the date we make the Offer Payment

Tragen

I also thought you had to pay in £500 for two months, how strange!

edit: OK, for the HSBC "bank account", you have to pay in £500 per month. That is a requirement of the bank account, rather than the switching incentive. But, as the incentive might not be paid for 70 days (according to their t&c), that means you would have to pay in £500 for two months - to keep the bank account. Of course, you may well get away with putting nothing in and they wont close the account, and you'd still get the incentive as they are not explicitly linked.

Zanderman

Tragen wrote: »

I also thought you had to pay in £500 for two months, how strange!

edit: OK, for the basic bank account, you have to pay in £500 per month. That is a requirement of the bank account, rather than the switching incentive. But, as the incentive might not be paid for 70 days (according to their t&c), that means you would have to pay in £500 for two months - to keep the bank account. Of course, you may well get away with putting nothing in and they wont close the account, and you'd still get the incentive as they are not explicitly linked.

There are several current accounts in their range, I think all of them were eligible for the £120 switch - so there is certainly no automatic need for a £500 pay-in, it depends on which account you applied for.

Tragen's reference to 'basic bank account' above is misleading. The HSBC 'Basic Bank Account' has no pay-in requirements as far as I'm aware. The HSBC 'Bank Account' is the one with the £500 monthly pay-in requirement.

[Deleted User]

ffacoffipawb wrote: »

What a clueless bank this is.

Account opened 27 January, account number and sort code advised in a second letter dated 4 February. Heard nothing since.

No debit card, chequebook, telephone pin or online access details received yet.

Rang the number on their letter to state I wished to take advantage of their switch offer. Apparently I need to speak to the other bank to initiate the switch to HSBC???

Exactly the same experience as me. 13th Jan I received the acc no & Sort code plus the form to fill out for the telephone banking number which I put in the post the next working day.

Since then, nothing. I've called a couple times but with waiting times of over 20mins I have not got through to anyone.

I shall attempt to call them another time to just close the account. Frankly it is not good at all and has left a bad taste in my mouth so why bother with them.