HSBC £50 12 Month Incentive Delay

A_New_Start

I signed up for an HSBC Advance account in 27 Jan 2017, due to delays in processing the account wasn't started until 16th Feb 2017 with a switch date on 06 Mar 2017. The switch went ok and got paid the £150 incentive - all good.

I've been awaiting the £50 (12 month anniversary) incentive which should have been paid by now. I've called twice and on both times to wait a week to see if it goes in - nothing yet.

I've kept the account within the paying in limit, 2 x direct debit and did a full switch closing the old donor account. I have made use of a £50 planned overdraft for two months but I'm sure that isn't a problem.

I'm sure they would be chasing if I owed then £50.

Will keep calling but has any one else had a problem with HSBC regarding this?

AndyPK

I'm just starting the process so a year behind lol.

I'm switching 2 DD's but do I need to keep them going for a year ? or

radoslaff

A_New_Start wrote: »

I signed up for an HSBC Advance account in 27 Jan 2017, due to delays in processing the account wasn't started until 16th Feb 2017 with a switch date on 06 Mar 2017. The switch went ok and got paid the £150 incentive - all good.

I've been awaiting the £50 (12 month anniversary) incentive which should have been paid by now. I've called twice and on both times to wait a week to see if it goes in - nothing yet.

I've kept the account within the paying in limit, 2 x direct debit and did a full switch closing the old donor account. I have made use of a £50 planned overdraft for two months but I'm sure that isn't a problem.

I'm sure they would be chasing if I owed then £50.

Will keep calling but has any one else had a problem with HSBC regarding this?

You didn't say whether you have made the monthly deposits of £1750.00 (in at least 9 out of 12 months during the year). if not, you can spare yourself the waiting. If yes, then stop calling the useless call center and start writing complaints. It's been more than a month delay now. And beforw writing you better check your statements once again. My £50.00 were in about 2 weeks before the end of the year.

radoslaff

AndyPK wrote: »

I'm just starting the process so a year behind lol.

I'm switching 2 DD's but do I need to keep them going for a year ? or

Absolutely not. The moment the switch goes through, you can ditch them, though I would wait until I got the £150.00. And besides, you don't need 2 DDs, 2 SOs would do just the same job.

A_New_Start

Hi Radoslaff,

Thank you for your advice, yes just recheck the statements and have paid in at least £1,750 on the following months;

Feb Yes
Mar Yes
Apr No
May Yes
Jun Yes
Jul Yes
Aug Yes
Sept Yes
Oct Yes
Nov No
Dec Yes
Jan Yes

Does it matter that the money was only in a few days, does it take average balance in to account, I admit I moved money about to meet this criteria - not to say there isnt always nothing in there though,

karlie88

OP, did you register for online or mobile banking within 60 days of the account being opened?

radoslaff

A_New_Start wrote: »

Hi Radoslaff,

Thank you for your advice, yes just recheck the statements and have paid in at least £1,750 on the following months;

Feb Yes
Mar Yes
Apr No
May Yes
Jun Yes
Jul Yes
Aug Yes
Sept Yes
Oct Yes
Nov No
Dec Yes
Jan Yes

Does it matter that the money was only in a few days, does it take average balance in to account, I admit I moved money about to meet this criteria - not to say there isnt always nothing in there though,

No, it doesn't matter. Money in and then money out is just enough to satisfy the requirement. I suppose that as karlie88 mentioned you have registered for online banking within the 60 days period. In this case file a formal complaint. This will make them move their lazy a...s.

[Deleted User]

I read that the £50 will be paid within 28 days of the anniversary of the switch date.

Mchambers

Complain and ask for compensation.

soulsaver

"Further Offer Payment 11.
If you meet the requirements to qualify for the Further Offer Payment as described at clause 10, we will make the Further Offer Payment of £50 within the 30 day period beginning on the 12 month anniversary of the Eligible Account being opened. The payment will be made by a direct credit into your Eligible Account."

Dec 2017 switching terms:
https://www.hsbc.co.uk/current-accounts/switching-to-hsbc/#
Scroll down to important docs pdfs...

A_New_Start

Thanks Soulsaver and all, I have emailed a complaint to customer care team and will give them one final call to try and sort. Ive met all the eligibility criteria for the last payment, shame it come to this, but yes most people only switch for the money.