Dormant HSBC account

sugarbabe84

After a series of recent upsets, I decided to switch my main banking account from HSBC to Halifax, which means my HSBC account will likely get downgraded from an Advance, right down to a basic.

I just wondered how likely it is that HSBC will close my account since it will have no activity?

Neil_Jones

If you're switching it through the Current Account switching service (the faster newer one) the old account will be closed as part of that.

sugarbabe84

Neil_Jones wrote: »

If you're switching it through the Current Account switching service (the faster newer one) the old account will be closed as part of that.

This isn't a switch. Halifax is one which I've opened brand new and chose not to switch.

TheShape

sugarbabe84 wrote: »

This isn't a switch. Halifax is one which I've opened brand new and chose not to switch.

The use of the word 'switch' in the first line of your post gave the impression that you were 'switching' your account.

Are you sure HSBC will downgrade you to their 'basic' account? You may not hold a HSBC basic account if you have a bank account with another UK provider (it's in the t&cs).

System

They will probably make it their standard account and then just close it.
HSBC don't take prisoners - they just close accounts!

stclair

I just send payments now and again to keep accounts I don't use active.

sugarbabe84

TheShape wrote: »

The use of the word 'switch' in the first line of your post gave the impression that you were 'switching' your account.

Are you sure HSBC will downgrade you to their 'basic' account? You may not hold a HSBC basic account if you have a bank account with another UK provider (it's in the t&cs).

Yes, I realise it was misleading using the word switch.

sugarbabe84

Heng_Leng wrote: »

They will probably make it their standard account and then just close it.
HSBC don't take prisoners - they just close accounts!

Haha yes, I've heard they are 'exclusive'. In my experience, they have been so flippant about customer service and have occasionally failed to deliver. I honestly don't feel like I'm part of something amazing.

Every time I've felt like leaving them I get told by acquaintances not to leave them, as they are exclusive and don't just open accounts for anyone willy nilly. I've felt like closing it for years. I guess it's a bit like their relationship with the United Kingdom

I suppose if they close it, it won't be the end of the world. I know many successful people who don't bank with them.

YorkshireBoy

sugarbabe84 wrote: »

This isn't a switch. Halifax is one which I've opened brand new and chose not to switch.

Is that because you've had a switching incentive from Halifax since 2012? If not, why would you throw £75 away? Maybe you're waiting for when/if it goes back up to £100/£125?

sugarbabe84

YorkshireBoy wrote: »

Is that because you've had a switching incentive from Halifax since 2012? If not, why would you throw £75 away? Maybe you're waiting for when/if it goes back up to £100/£125?

I actually also had a Natwest account that I opened during my student days. I chose to switch using that one and so it got closed, I didn't mention it in the OP as I didn't feel it's relevant to what I'm asking about. I did get an incentive, it was £125 .

Could have switched using HSBC but I've chosen to keep that one instead but will stop using it as main account, though it sounds like I might get downgraded and closed haha.

I've never benefited much from my Natwest account, but at least the new Halifax reward account gives good cash back deals.