Top Bank Accounts Discussion Area

Consumerist

badger09 wrote: »

. . . Go for it - but don't be surprised if you're not accepted. Its not personal

Many thanks (well, only one in fact) for the heads up. Appreciated.

polymaff

badger09 wrote: »

HSBC are notoriously choosy over who they want as customers. As are First Direct & slightly less so, M&S (all the same group). The whole process can also be very long winded.

1. Yes they are picky. On the other hand they were horrified when I recently chose to downgrade from Premier to Advanced...:rotfl:


2. If you are tempted to open their regular saver, its rate virtually halved recently, and it isn't the sort of RS where you can change the payment date to force in a 13th payment. Well you can, but they hold the cash until the original monthly date...:(

keef-WhatStandards

Consumerist wrote: »

is there anything about HSBC banking that I should really know about before switching ?

I've always been accepted, but never got through their long winded set up process.

They don't seem to know what Internet banking is and insist you use the phone.

polymaff

Consumerist wrote: »

I'm giving the offer some thought but is there anything about HSBC banking that I should really know about before switching ?

Yes, HSBC has contempt for retail banking. They always have and, as a long-time shareholder - and Midland before - I don't regard that as an unreasonable policy. There's little to be made out of retail banking - and, especially, out of "vermin" ( (c) Nye Bevan ) like us.


Their offering of bribes is, I am sure, a me-too anomaly by their marketing department - which, as a shareholder, I wish they'd get rid of...:)

Consumerist

keef-WhatStandards wrote: »

I've always been accepted, but never got through their long winded set up process.
They don't seem to know what Internet banking is and insist you use the phone.

Thanks for the heads up on that. Having second thoughts now.

soulsaver

Consumerist wrote: »

Thanks for the heads up on that. Having second thoughts now.

I've had a HSBC ac for 3 years since their 2016 switching bonus. It was a PITA process to open the account.

However the switch went smoothly & I've never had to phone them or had any complaints since. .. other than maybe they're dropping the rate from 5% on the Regular Saver, IIRC to 2.75%.

Consumerist

Thanks for the input, guys and gals.

Assuming they even accept my application, I think I might run it as a skeleton account - just paying in the minimum monthly and paying it straight out again - until I get a feel for running the account.

After all, it seems that closing the account is easy enough - just stop the monthly payments and they will close it anyway.

badger09

Consumerist wrote: »

Thanks for the input, guys and gals.

Assuming they even accept my application, I think I might run it as a skeleton account - just paying in the minimum monthly and paying it straight out again - until I get a feel for running the account.

After all, it seems that closing the account is easy enough - just stop the monthly payments and they will close it anyway.

You have nothing to lose and potentially £175 to gain. However, there is no need to switch your 'main':cool: current account.

If you are accepted and find that you don't like it, why waste it? Instead of closing it, why not use it to switch elsewhere for another incentive;)

Consumerist

badger09 wrote: »

You have nothing to lose and potentially £175 to gain. However, there is no need to switch your 'main':cool: current account.
If you are accepted and find that you don't like it, why waste it? Instead of closing it, why not use it to switch elsewhere for another incentive;)

I do like your thinking. Thanks.

YorkshireBoy

Consumerist wrote: »

After all, it seems that closing the account is easy enough - just stop the monthly payments and they will close it anyway.

I believe what they say is that they may downgrade it to "Bank Account" if they review the account and find you're not meeting the Advance T&Cs. At least they used to say that.