HSBC Advance account criteria Query

Zinc20

One day I got a new job which paid well over the required amount for the account. I had already opened a standard HSBC account a few weeks before. I walked into branch and told them I wanted an advanced account, explaining I had a new job. They asked me for proof and I showed them the job offer letter. This was accepted and my account was upgraded in a week or so. I didn't keep the account because I didn't like the bank in the end.

I am complexed to why the advanced account seems to have a legend about it being hard to get one. Every tom !!!! and harry seems to have one these days. I suspect the criteria will be changed soon!

spenderdave

Zinc20 wrote: »

I am complexed to why the advanced account seems to have a legend about it being hard to get one. Every tom !!!! and harry seems to have one these days. I suspect the criteria will be changed soon!

I suspect if they increase the £1750 criteria many will no longer meet it with current pay increase rates. Mine is based on my pensions, they go up by inflation but that is all. Whatever, the actual benefits for most people are relatively small and it is more a bragging thing. If they do make it harder to get the bad publicitity won't do HSBC much good.

wizzywig27

I have a HSBC bank account which I don!!!8217;t use, if I start to use it, credit it with my salary every month do they definitely upgrade it to an advance account with question/credit check?

thomasagsmith

they won't let you cross fire money from other accounts to qualify its fraud you either pay 1750 in or not seems simple enough.

soulsaver

thomasagsmith wrote: »

they won't let you cross fire money from other accounts to qualify its fraud you either pay 1750 in or not seems simple enough.

Nonsense...

Zanderman

thomasagsmith wrote: »

they won't let you cross fire money from other accounts to qualify its fraud you either pay 1750 in or not seems simple enough.

Er, completely wrong!

The simple fact is they require a total pay-in - from anywhere at all, doesn't matter where - of 1750 per month. That's all they stipulate. It's not fraud to pay in money from another account (how on earth could that be fraud?)

The complication, for the HSBC account in question, is that HSBC do seem to be fussy about who they give the account to, and tend not to give it to people with an income lower than they want. But that's just them being fussy about who they take on. It's not the rules on where the 1750 comes from each month.

If you get the account and earn over 1750 and pay it in that's fine.

If you get the account whilst earning less, or subsequently earn less, but still top up the payments each month to get to 1750 that's fine too.

EachPenny

thomasagsmith wrote: »

they won't let you cross fire money from other accounts to qualify its fraud you either pay 1750 in or not seems simple enough.

Why resurrect an old thread to post incorrect information? You've made similar claims before, but never backed it up with any evidence... which would be difficult to do given that as other posters have already pointed out there is nothing fraudulent about paying money into your current account to meet a minimum pay in requirement.

thomasagsmith

if the money is coming from other accounts in your name and your making deposits from here there and everywhere its a money laundering risk, it happened to a close friend of mine ended up receiving a letter from his bank saying they were closing his accounts and didn't wish to have a banking relationship with him anymore.

eskbanker

thomasagsmith wrote: »

if the money is coming from other accounts in your name and your making deposits from here there and everywhere its a money laundering risk, it happened to a close friend of mine ended up receiving a letter from his bank saying they were closing his accounts and didn't wish to have a banking relationship with him anymore.

You're making the huge assumption that the experiences of your friend can be extrapolated to your false conclusion that cycling money around accounts in your own name is inherently an issue (or even fraud!).

However, many people on here routinely cycle funds around between their accounts without any problems, so, as you concede that your friend was "making deposits from here there and everywhere" or doing something else suspicious, then that's likely to be closer to where his specific issue was, so best stop scaremongering on multiple threads....

EachPenny

eskbanker wrote: »

You're making the huge assumption that the experiences of your friend can be extrapolated to your false conclusion that cycling money around accounts in your own name is inherently an issue (or even fraud!).

However, many people on here routinely cycle funds around between their accounts without any problems, so, as you concede that your friend was "making deposits from here there and everywhere" or doing something else suspicious, then that's likely to be closer to where his specific issue was, so best stop scaremongering on multiple threads....

I think you might be wasting your energy... the poster regularly comes back with the same kind of story, as their posting history shows.