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Thinking of opening a basic account with HSBC
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another_casualty
Posts: 6,506 Forumite


Howdy!
Slightly complicated stare of Affair’s .
I recently made settlement payments to my creditors when on a dmp
I’m now mortgage free also. Wow:)
I have all my eggs in one basket with nationwide . I want to keep the current flex account with them , as I am happy with their service . No problems with direct debits etc. I do have some savings there also.
What I would like to do , is open 2 accounts with HSBC . One being a basic current account with no overdraft , credit card or loan needed.
The other being a savings account .
Why HSBC ? Well , if they are not related to Santander, Barclays , rbs Mbna then I will feel confident that although my settlements were accepted ( partial and full and final ) then any savings will not be snatched from me .
I am not currently in employment ( not signing on either)
I am recovering from illness and aim to look for part time employment in March all going well.
I don’t want to do internet banking initially as I prefer a branch to pay money in when I wish to.
I have approx £7,000 that I could afford to pay into said accounts.
I could pay that in instalments or just chuck it all in at once.
Interest rates for savers is bad as we all know .
As I say, the minus points are being unemployed / being on a dmp 2012-2017. Plus points: Homeowner , debt free and x amount of savings
Please advise
Thanks
Slightly complicated stare of Affair’s .
I recently made settlement payments to my creditors when on a dmp
I’m now mortgage free also. Wow:)
I have all my eggs in one basket with nationwide . I want to keep the current flex account with them , as I am happy with their service . No problems with direct debits etc. I do have some savings there also.
What I would like to do , is open 2 accounts with HSBC . One being a basic current account with no overdraft , credit card or loan needed.
The other being a savings account .
Why HSBC ? Well , if they are not related to Santander, Barclays , rbs Mbna then I will feel confident that although my settlements were accepted ( partial and full and final ) then any savings will not be snatched from me .
I am not currently in employment ( not signing on either)
I am recovering from illness and aim to look for part time employment in March all going well.
I don’t want to do internet banking initially as I prefer a branch to pay money in when I wish to.
I have approx £7,000 that I could afford to pay into said accounts.
I could pay that in instalments or just chuck it all in at once.
Interest rates for savers is bad as we all know .
As I say, the minus points are being unemployed / being on a dmp 2012-2017. Plus points: Homeowner , debt free and x amount of savings

Please advise
Thanks

0
Comments
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HSBC have fairly high income requirements so you may find they won't accept you.
You could apply for a HSBC basic account but since you already have a bank account I don't think they would open one.
If you have a smartphone you could apply for one of the new challenger bank account eg Starling (or Monzo but I prefer Starling). You download the Starling app and apply using the app.0 -
HSBC have fairly high income requirements so you may find they won't accept you.
You could apply for a HSBC basic account but since you already have a bank account I don't think they would open one.
If you have a smartphone you could apply for one of the new challenger bank account eg Starling (or Monzo but I prefer Starling). You download the Starling app and apply using the app.
Forgot to mention that I have £5k in an isa with Nationwide . I could transfer that perhaps .
Thanks for that .
I just looked at both starling and monzo . Yes, starling does look better . The only thing there, is that I can not make any interest there .
The reason I mentioned HSBC , is because their savings account have better interest . The good thing for myself technically is that I have never had an Iva or gone bankrupt . HSBC do mention Iva as being a rejection .0 -
HSBC saver pays 0.1%. You won't qualify for the regular saver 5% as I don't think you will get an Advance account.
Starling pay 0.5% I think.
If it is interest you want then recommend you look at TSB for example. But I still think Starling is best and maybe open a savings account elsewhere (tesco internet saver pays 1.3%)0 -
Are you using Nationwide RS which is paying 5%?Being polite and pleasant doesn't cost anything!
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2025 3dduvets0 -
Katiehound wrote: »Are you using Nationwide RS which is paying 5%?
They seem to have a FlexAccount with no regular income.
The OP would have to convert it to a FlexDirect to be eligible.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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