HSBC Advance Current Account - By Invite Only?

strawberries1

Hi all,

I have a HSBC current account with a few of direct debits on.

I also have a First Direct current account with direct debits my wages going in.

I'll like to switch my First Direct to HSBC Advance but when I rang HSBC they said I can only switch if there was an offer on my HSBC current account inviting me to switch to Advance. Has anyone experienced this?

My HSBC current account doesn't qualify to switch because I don't get my wages paid into it. I went as far as getting my employer to change my bank details but even then HSBC says they need 6 months of the wages going in.

They just seem to be putting up hoops wherever I turn. I've banked with them for over a decade and I was hoping for a reduction on my mortgage booking fee.

Does anyone have a walk around please?

WillPS

I don't think there is one, sadly. HSBC (incl. First Direct and M&S) have a really arduous application procedure and are known to be the most selective of all the big banks. Their system actually makes it harder to open an account as a current/former customer than it is for completely new customers - even though they have all the relevant details (in theory!).

Your best bet is to formally complain, explaining that you have up to now had all your wages paid in to First Direct (which is after all part of the same group) and you have now moved them over. Express that they have always (since x) been paid in to HSBC group banks.

Ultimately though, if they don't want to offer you an account they can do that. You can also choose to bank elsewhere.

EDIT - just to confirm - you're not hoping to avail of the £200 switching offer, are you? If so - you're out of luck because they exclude anyone who's held a current account with HSBC within the last year.

EDIT2 - After reread I can see you're hoping for a fee reduction. I would honestly just forget about it - HSBC are so glacially slow at dealing with account openings.

strawberries1

Thanks WillPS. It's the mortgage fee I was hoping for.

strawberries1

Not very happy with the tone of questioning from HSBC. I feel exactly yhe way this poster felt. https://forums.moneysavingexpert.com/discussion/5188733

Now I'm thinking of going with First Direct cos they seem more approachable.

I don't have any loans, ccjs or anything and he keeps talking down at me like he's doing me a favour

Candyapple

Are you not allowed to have x1 HSBC Advance account and x1 'normal' current account with HSBC?

I would have thought so given you can open numerous current accounts with most of the other banks e.g. Halifax, Nationwide, Santander etc.

If you are, why not apply for the Advance account as a new customer, treating it as a brand new application?

bumpercars99

A new account may well be declined. Their internal scoring is brutal and it's a definite disadvantage to be a customer when making an application for an HSBC group account.

I had my account automatically upgraded when I increased the amount I was paying in. I just had a look through my statements though and, as you've been told, it was after exactly 6 months of increased payments that I was invited.

Previously though they were always badgering me to apply to upgrade on the phone so this must be possible outside of the automatic process. Maybe give the sales team a call? The way they were going on about it, there must have been some sort of staff targets around upgrading customers so I'd be surprised if you're not allowed to do it.

strawberries1

I spoke to First Direct today and they were so lovely, called me back when I asked and expressed appreciation of how daunting getting a first time mortgage must be; exciting and turpsyturvy. They just seem warmer and I don't feel like I'm being judged on why I spend only 60gbp on groceries per month etc.

The rates and fees are the same if they don't give me the Advance account so I might put a halt to the HSBC process and go with FD.

Mr_K

strawberries1 wrote: »

Not very happy with the tone of questioning from HSBC. I feel exactly yhe way this poster felt. https://forums.moneysavingexpert.com/discussion/5188733

Now I'm thinking of going with First Direct cos they seem more approachable.

I don't have any loans, ccjs or anything and he keeps talking down at me like he's doing me a favour

First Direct is HSBC...

castle96

HSBC is a P.I.T.A. !

Mr_K

castle96 wrote: »

HSBC is a P.I.T.A. !

Oh, I don't know. Had an account with HSBC for 30 years, never paid any bank charges, and the online banking is good. Just opened an account for my student son, who has zero income, no problem. For savings they're rubbish but so is every other bank. First Direct is just another 'brand' of HSBC at the end of the day, so you're dealing with the same organisation.

strawberries1

Mr_K wrote: »

First Direct is HSBC...

I know but they consistently deliver a better service.