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

fromtheshires

peanuts92 wrote: »

I'm going to sort out the switch in just a few days over the phone, although the lady at the branch kept trying to pressure me into doing it in branch and insisted that i take her business card. I'm guessing they have some sort of targets or commission on things like account openings and switches.

HSBC used to have a points system. X product was Y points to the sales rep. Certain products had additional points on them if there was a huge push on the product. We all know what points mean don't we (prizes - well commission in this case).
I still hav savings accounts with them (all empty bar nominal £1's so hopefully mine should go through fairly quickly once I open a TSB classic to switch from

Candyapple

Thanks stclair. What ID and address verification do they require?

Interestingly my OH applied for the basic bank account on 1/1/16 and received instant acceptance on screen and was able to fill out switch details online too. 10/1/16 letter arrives with the leaflet about the £120 switch offer (confusing as it reads as though you requested this and not applied to open an account). 14/1/16 letter stating your application has been successful and to send off signature form. 20/1/16 debit card arrived today.

starM

Candyapple wrote: »

Thanks stclair. What ID and address verification do they require?

Interestingly my OH applied for the basic bank account on 1/1/16 and received instant acceptance on screen and was able to fill out switch details online too. 10/1/16 letter arrives with the leaflet about the £120 switch offer (confusing as it reads as though you requested this and not applied to open an account). 14/1/16 letter stating your application has been successful and to send off signature form. 20/1/16 debit card arrived today.

What time of the day did you OH apply?

stclair

Candyapple wrote: »

Thanks stclair. What ID and address verification do they require?

Interestingly my OH applied for the basic bank account on 1/1/16 and received instant acceptance on screen and was able to fill out switch details online too. 10/1/16 letter arrives with the leaflet about the £120 switch offer (confusing as it reads as though you requested this and not applied to open an account). 14/1/16 letter stating your application has been successful and to send off signature form. 20/1/16 debit card arrived today.

Just the usual passport and bank statement I provided to them.

C_Mababejive

Had letter,,please visit HSBC branch to prove income..hahahaaa..

Tragen

So for this, I can switch a co-op cash minder over, with no direct debits and also do a £500 bank transfer, and transfer it back out, once a month - and qualify?

stclair

Tragen wrote: »

So for this, I can switch a co-op cash minder over, with no direct debits and also do a £500 bank transfer, and transfer it back out, once a month - and qualify?

In a nut shell yes ;-)

Tragen

C_Mababejive wrote: »

Had letter,,please visit HSBC branch to prove income..hahahaaa..

Is this common? I'd find it quite a hassle to prove my income, I'm self employed and my cashflow is quite diverse.

I applied this morning, I guess I'll find out soon enough

Candyapple

starM wrote: »

What time of the day did you OH apply?

It was late in the evening so definitely after 10pm.

A further update, he received a letter from HSBC yesterday asking to call regarding the switch.

C_Mababejive wrote: »

Had letter,,please visit HSBC branch to prove income..hahahaaa..

I don't think I've ever heard of this before. Have you recently changed jobs or your income increased greatly?

claire07

Oh dear - after earlier post saying I could do nothing until the Telephone Security Code arrived I chased it up today (it was supposed to have been sent over a week ago) to be told it had not actually been sent as they had no current signature from me.


I now have to go into a branch to confirm my signature which I would have appreciated being told last week rather than being told they had sent the Telephone Security Number. Beginning to wonder if this is their way of delaying any switch.