HSBC Advance Switch Offer

poshrule_uk

I don't earn the £1,750 per month but I would be able to make up the difference to the £1,750 to meet the account requirement (I'm on £23k per year)

In peoples experience am I likely to be rejected for the account based on salary alone?

Katiehound

Who knows with their criteria??
But I think you have a good chance.......

poshrule_uk

Declined. Worst things happen.

Samsung_Note2

poshrule_uk wrote: »

Declined. Worst things happen.

On MSE switch guide Martin does give minimum amount you need to earn..and the monthly amount,suggests to me what figure you need to say you earn on application.

20aday

Granted it's run by HSBC but First Direct currently have a switch offer at the moment:

https://www1.firstdirect.com/1/2/banking/current-account

You need to deposit £1,000 (further conditions apply as detailed on their website) but might be something worth considering.

savingpennies

I don't earn £1750 either, but I pay in £1750 every month, pay a few DD's and then have the rest transferred back to my main account. One of the easiest ways I've earned £200 this year.

EachPenny

Samsung_Note2 wrote: »

On MSE switch guide Martin does give minimum amount you need to earn....

There is no minimum earning requirement for the Advance account, the T&C's state only a minimum pay-in which can be from other sources of funding.

However, HSBC are known for declining applications from customers, I was declined when I first applied, I suspect for no reason other than my income was less than £1750 per month.

OP, did HSBC offer you a standard account as an alternative, or was it just an outright decline?

If they did offer the standard account then I would be inclined to go into a branch and complain. If you have passed the credit checks and are eligible for an account then you should be eligible for the Advance account because the requirement is only to pay in a certain amount of money, not to earn that amount.

I made it clear that I would make a formal complaint if they were declining my application based on my earnings when this was not a condition for holding the account. A meeting with the branch manager was swiftly arranged, following which my Advance account was opened - although the person doing it had to pause the application at various points and go and make long private calls to 'head office'

Other people have reported success just by applying again a few months later.

Samsung_Note2 wrote: »

....and the monthly amount,suggests to me what figure you need to say you earn on application.

The figure you need to put on the application form is the amount you earn. Putting the figure you think you need to put in order to open the account might be classed as fraud and could cause you far more problems than the £200 bonus is worth.

Ballard

My income is in excess of the £1,750 per month but my first application (18 or so months ago) was declined. I applied again last November and had to arrange an appointment at my local branch.

Again it was declined whilst I was in branch but the lady could see my salary going into my First Direct account and put a note on the application.

A few days later it was approved and I received my £150 bonus.

The point that I'm making is that their process of approving applications does not appear to be particularly clear cut.

Mchambers

I had a problem in 2016, when they declined my application. I reapplied last year and advised them that I was earning sufficient income to get the bonus. Worked fine as I got the money.

EachPenny

Samsung_Note2 wrote: »

...Oh your post makes more sense now,just because you cant get an account..lol
Yes ofcourse they did...we all know bank managers will do this for everyone esp low earners...lol
Yeah right you cant get an account so annoyed others can so start spouting nonsense...lol

Oh grow up !!!!!!...think its quite clear what i was referring to.!

Maybe you should re-read what is posted by the man himself.

Minimum monthly pay-in: £1,750 (equates to £26,100 annual salary)

Is it really necessary to be so offensive?

What you were referring to, if the OP takes you up on the suggestion, could result in them being accused of making a fraudulent application with the result that banking facilities may be denied in future and/or withdrawn. Banks share information such as declared earnings as part of the fraud prevention systems.

I did read what 'the man' posted. He uses the word 'equates', not 'requires'.

The HSBC T&C's are the definitive statement on what is required. For the Advance account no minimum income requirement is stated.

Samsung_Note2

EachPenny wrote: »

Is it really necessary to be so offensive?

What you were referring to, if the OP takes you up on the suggestion, could result in them being accused of making a fraudulent application with the result that banking facilities may be denied in future and/or withdrawn. Banks share information such as declared earnings as part of the fraud prevention systems.

I did read what 'the man' posted. He uses the word 'equates', not 'requires'.

The HSBC T&C's are the definitive statement on what is required. For the Advance account no minimum income requirement is stated.

Not going to argue the point with you..after all you demanded a meeting with branch mananger and then after long private phone calls to head office you have your account.

Listen Walter mitty...ive better things to do with my life...;)