Automatically given HSBC Advance Debit Account Without Being Asked?

Mst

Evening all,

I've been a customer with HSBC for the past 10 years. About four months ago I received a new debit card in the post, with a letter that stated something along the lines of "here is your new card, please destroy the old one..." I have now noticed that this is an Advance Debit card.

Is this a good thing? Am i subject to charges? Is there benefits to this? What do you folks reckon?

Thanks!

Ben8282

As this happened 4 months ago, have you been subject to charges? Assuming you check your statements, you should know by now ...
If your account type has been changed, have you not been provided with any information about any benefits which may be associated with this new account type?
If you were unaware that the account type was changed and this was done without your knowledge or consent, have you not contacted HSBC to ask why?

tykesi

Why wait four months to query?

Why ask on a forum rather than with the provider themselves?

Very odd.

jamie_02

Why don't you ask HSBC instead of us?

Ashen

tykesi wrote: »

Why wait four months to query?

Why ask on a forum rather than with the provider themselves?

Very odd.

I presume he's only just noticed the card says Advance - I doubt he noticed at the time. And I don't think it's that odd to ask an independent forum whether it's a good thing to have or not?

Mst

Thanks Ashen. This is indeed the truth!

Alas, I lead a busy working life and hadn't noticed it was an Advance Card. I just wanted to gain some independent advice and review of the HSBC Advance account and if it was recommended or not. I haven't seen any new charges in my account and therefore am not concerned about charges now.

Just some general feedback would've been great.

Careful_ly

Its a good thing if you can afford to save as it allows you to open a regular saver paying 5% interest, other than that it doesn't matter.

mt99

Google 'HSBC Advance Account' and you will see the features/benefits/charges.

Basically, no monthly fee, access to a 5% monthly saver but you must pay in at least £1750 a month.