Switching to HSBC Advance Bank Account

krippo

Hi guys!

I found here an offer about switching my joint account to HSBC bank.
But to eligible I need to pay monthly at least 1750 GBP per month, may I transfer money from First direct bank? (or they count it as the same group?)

I have tried to contact customer service, but the switch team telephone help, it is not working on the weekends.

Best Regards

YorkshireBoy

Answered in the Advance account T&Cs...

You must pay at least £1,750 into your account each month (or a minimum of £10,500 every six months) not including money transferred from any other sole or joint personal account(s) you hold with HSBC Bank.

And...

HSBC Bank means HSBC Bank plc but excludes first direct.

I have tried to contact customer service, but the switch team telephone help, it is not working on the weekends.

Bad idea to give them ideas! After all, it's very easy for them to modify that sentence at the next main T&C update (by substituting the word "including" for "but excludes")!

krippo

I have just spoken with guy in Customer Service and he said that 1750 must come direct on the account. !!!!!!

badger09

krippo wrote: »

I have just spoken with guy in Customer Service and he said that 1750 must come direct on the account. !!!!!!

If by that, you mean the monthly pay in cannot come from another account, then I can assure you, he is wrong.

gowgowuk

Hello,

Just to let you know that although they said on the phone that I can transfer my First Direct account, I've just been to the local branch (Edinburgh) to verify my address and they told me there that yes, I can switch from First Direct, but I would NOT have the £200 incentive in that case! I wish they told me that on the phone:(
I cancel the transfer, obviously...

EachPenny

badger09 wrote: »

If by that, you mean the monthly pay in cannot come from another account, then I can assure you, he is wrong.

But not the only bit of incorrect information about the £1750 pay-in doing the rounds at the moment....

Samsung_Note2 wrote: »

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.

badger09

gowgowuk wrote: »

Hello,

Just to let you know that although they said on the phone that I can transfer my First Direct account, I've just been to the local branch (Edinburgh) to verify my address and they told me there that yes, I can switch from First Direct, but I would NOT have the £200 incentive in that case! I wish they told me that on the phone:(
I cancel the transfer, obviously...

Really?

I can't see that exclusion in the switch T&Cs.

Have you actually cancelled the transfer?

gowgowuk

badger09 wrote: »

Really?

I can't see that exclusion in the switch T&Cs.

Have you actually canceled the transfer?

I couldn't see it either, and to be honest, the person I talked to at the HSBC branch. But to be sure, he called the switching team and they said that it does not qualify. So, yes, I canceled everything.

badger09

gowgowuk wrote: »

I couldn't see it either, and to be honest, the person I talked to at the HSBC branch. But to be sure, he called the switching team and they said that it does not qualify. So, yes, I canceled everything.

You can't see it, because it isn't there.

It is quite common for bank employees to give incorrect information, and even make up their own T&Cs:(

My advice - reinstate the switch asap as there is a time limit. If you want to switch your First Direct, go ahead.

If you meet all the switch incentive T&Cs (which I would print out) and the switch incentive isn't paid, I would raise a formal complaint.

Let us know how you get on.

AirlieBird

badger09 wrote: »

I can't see that exclusion in the switch T&Cs

HSBC means HSBC Bank PLC. First Direct is a trading name of HSBC Bank PLC (now transferred to the ring fenced entity: HSBC UK Bank PLC) and are covered by the same FCA registration.

Therefore holding a First Direct current account means you are a HSBC current account customer.

That said there is a specific exemption that allows you to switch to a HSBC Advance account and still hold a First Direct current account.

gowgowuk

badger09 wrote: »

You can't see it, because it isn't there.

It is quite common for bank employees to give incorrect information, and even make up their own T&Cs:(

That's exactly what I've been told by the branch employee (and the switching team): they even apologized if I've been led to believe that I can transfer a First Direct account by another employee!

badger09 wrote: »

My advice - reinstate the switch asap as there is a time limit. If you want to switch your First Direct, go ahead.

If you meet all the switch incentive T&Cs (which I would print out) and the switch incentive isn't paid, I would raise a formal complaint.

Let us know how you get on.

It would mean going again to the branch (not very easily for me), to restart the process. To be honest, I think I'll leave it there. Thank you for the suggestion all the same!