HSBCs £200 switch incentive ending this month?!

Ballard

I emailed my contact at HSBC over the weekend and she called me back first thing this morning. Everything is in order and she’s put a form in the post for the switch. I just need to sign and return it which I plan to do on Thursday.

HSBC aren’t perfect by any stretch but my experience with this particular lady couldn’t be better. She has gone out of her way to ensure that the account was opened despite ‘computer says no’.

bioboybill

I thought these account switches were guaranteed to be complete in 7 days? I have been with Lloyds for 35 years, but I am tempted to switch to get £200 free and the Regular Saver. If the 7 day switch doesn't apply I'm not sure I want the aggro of worrying whether Direct Debits and other payments are getting paid in the meantime.

bioboybill

Ah, I think I see now. You open an account first, then you do the switch. Is that right?

badger09

bioboybill wrote: »

Ah, I think I see now. You open an account first, then you do the switch. Is that right?

Yes

That is the case with all switches using the CASS.

JustAnotherSaver

bioboybill wrote: »

I thought these account switches were guaranteed to be complete in 7 days? I have been with Lloyds for 35 years, but I am tempted to switch to get £200 free and the Regular Saver. If the 7 day switch doesn't apply I'm not sure I want the aggro of worrying whether Direct Debits and other payments are getting paid in the meantime.

HSBC gave me the date of this coming Monday that it will be finalised. That's a 5 business day wait.

I'm sure i've also seen mentioned in paperwork that if i incur any charges because of the switch (such as a direct debit doesn't get paid (apart from if i had no money in the account to begin with sort of thing)) then they'll cover the charge for me.

If you get a better deal elsewhere then go for it. Loyalty doesn't pay (usually).

bioboybill

OK, so I just applied for HSBC Advance and have been accepted. However, during the online application it asked if I wanted to switch using the CASS system and offered me an earliest date to switch of 23rd November. I remembered that the £200 was only available if you did the switch either over the phone or in the branch, so I said no. I then got a message to say I should get my details by post within 7 days. I am hoping that means I will still be eligible to do the switch by phone or in branch once I have all my details, as the T&Cs say you need to complete a successful application by 26th November and start a switch within 30 days of opening the account?

bioboybill

Oh, and another thing, I gave my email address, but I haven't received an email to confirm anything at all. The only thing I got was a message at the end of the online process that said an account was opened and I would get card etc in the post. I would've thought I would at least get a confirmation email, but nothing!

mcphail

Does anyone know how long it takes from switching, to receiving the £200? My switch completed on 4th October, but nothing in my account yet. Thanks

bioboybill

It says 50 days to get the first £150 on their T+Cs.

bioboybill

So far quite impressed with how easy it has been to open the HSBC account and start the switch. Applied online on Thursday, received debit card at the weekend while I was away. Phoned up this morning and registered for phone banking, set up online and mobile banking and applied for switching to complete on 21st November.