Top Bank Accounts Discussion Area

Marigold123

YorkshireBoy wrote: »

Well 2 of the 3 do. 1 stands alone.

I didn't realise that! Which one? M&S?

System

Marigold123 wrote: »

There's no crossover whatsoever. They are completely separate banks, in the same way the Lloyds Group banks are separate. You can receive incentives from all three, (HSBC, First Direct & M&S). The only thing is to remember is that they share the £85,000 cover in case of bank collapse.

Your whole statement is incorrect - not just the FSCS bit.
LBG doesn't have the same arrangement as HSBC.

Marigold123

Heng_Leng wrote: »

Your whole statement is incorrect - not just the FSCS bit.
LBG doesn't have the same arrangement as HSBC.

My apologies, I thought they did. Can you enlighten us to the actual arrangement?

(And I think you'll find that the part about being entitled to incentives from all three, is correct, at least.)

YorkshireBoy

Marigold123 wrote: »

My apologies, I thought they did. Can you enlighten us to the actual arrangement?

(And I think you'll find that the part about being entitled to incentives from all three, is correct, at least.)

I think Heng Leng may be referring to the corporate structure.

Just on the LBG, it used to be the case that you couldn't switch to Halifax from BOS to get a switching incentive. Heng Leng will no doubt tell you why.

And you were correct earlier when you speculated it was M&S that sold alone re FSCS.

adindas

Emily_Joy wrote: »

my mantra since is "never ever use an ATM in close proximity of popular transport hubs in London")

I and I know few people are using the Cash machines in Tube Stations, Rail Hubs in London to withdraw cash regularly and I do not share this experience. Your personal experience might be an isolated case ?

IMHO It is highly unlikely that the fraudsters will be targeting the busy cash machines in transport hub where there are a lot of people or transport police could see it. Also, there are a lot of people will be using those cash machines, so certainly there will be some of these people are knowledgeable people or even transport police, rail/tube ground staffs who will know when the cash machines are tempered.

dcs34

adindas wrote: »

I and I know few people are using the Cash machines in Tube Stations, Rail Hubs in London to withdraw cash regularly and I do not share this experience. Your personal experience might an isolated case ?

IMHO It is highly unlikely that the fraudsters will be targeting the busy cash machines in transport hub where a lot of people or transport police could see it. Also, there are a lot of people will be using those cash machines, so certainly there will be some of these people are knowledgeable people or even transport police, rail/tube ground staffs who knows when the cash machines have been tempered.

Problem is the tampering, once set up, can usually be run remotely. So if it's discovered, so what? Move on to the next one

adindas

dcs34 wrote: »

Problem is the tampering, once set up, can usually be run remotely. So if it's discovered, so what? Move on to the next one

Very good point which I fully share. Of course once surveillance is set up, can be monitored remotely and they could always move to the next target.

My point here is "Emily Joy Mantra's : never ever use an ATM in close proximity of popular transport hubs in London" should be applied sensibly as fraudsters could target any cash machine so avoiding London transport hub cash machines do not make people more secure. What will make people more secure is to do quick observation of the cash machines before using them.

Also people are using cash machines in London Transport Hub, for obvious reason e.g accessibility as you will be passing those cash machines on daily basis when commuting.

stupendous_J

Does anyone know (through experience) if you can still get the HSBC £175 switching offer for switching a 'JOINT' account? I already had an HSBC switching offer recently (from switching just a sole account only).

Their T&C's state:-

You will qualify for the switcher offer described in these
Offer Terms if you:
(a) apply for an eligible current account on or after 30 December 2019 and before the offer is withdrawn (see term 9 below), and subsequently open that account;

(b) are not an HSBC current account holder on the date of application and have not been on or after 1 January 2017*1. Where your eligible current account is a joint account, at least
one of the joint account holders must complete the switch from either a sole account in their own name or another joint account in the same names;

Under the assumption of (b), I think if the missus starts & complete the switch, she should get it? I did live chat with HSBC, and they weren't much help as they pretty much quoted that word of word.

Thoughts please?

Marigold123

I would say this means that if your wife has a sole account with another bank, which she switches to HSBC when you open your joint account, OR you both have a joint account with another bank which you switch to HSBC, she should get the incentive, provided she doesn't have an existing account with HSBC and you're within the dates stated.

If they are getting her business as a new customer and she is closing her account with the old bank, that fulfils the criteria, whether the second account holder is with them already or not. If you are switching from a joint account, then it shouldn't matter who initiates the switch, but why tempt fate?

What she couldn't do is have a joint account with another person, and switch from that account to a joint account with you, as the switching process, (whether an incentive is involved or not), requires both sets of names to be the same.

That's as I understand it. (I hate HSBC's customer service. I've had some good conversations with them, but some really terrible ones, too.)

polymaff

stupendous_J wrote: »

Does anyone know (through experience) ...

Not by direct experience, but if you substitute your wife's name for the word "you" in those T&Cs, I think that your logic looks sound.