Refused HSBC Advance account

Sharon87

Yeah those accounts are quite hard to be accepted for. Every time Martin Lewis mentions it on the show I think 'most people who watch those probably won't get accepted!'. I was given one automatically as I've banked with them since my student days and when my income grew they offered me one so never had the pain of trying to apply for one! It does give you access to a regular savings account if you managed to get accepted though.

I think the OP misunderstood and maybe they were asking about a main account like someone else had said. If you're not going to use the Advance account as your main account they won't want you. Always say yes, even if you decide to use another one for your main account later. I have monthly direct debits from multiple accounts for bonuses until they stopped them. I got rejected for the TSB 5% interest account a few years back, no idea why, they didn't even give a reason! I even went in branch and gave them ID! That was very annoying as 5% interest would have come in handy. (maybe I had too many current accounts elsewhere! I have 5 current accounts open at the minute)

Frogletina

I decided to apply for an HSBC account again having been turned down a few years ago. I did this online and was accepted with no problem, and I was able to get the regular saver too. I have 14 other current accounts.

Barny1979

Why so many accounts?

David28

adamp87 said:

David28 said:

I applied for an HSBC Advanced account on behalf of my wife and put her income as £10000
, which is her pension income and she was accepted.

That’s odd because don’t you need £1750 a month or something to open one?

Who knows, maybe you just need to be a 73 year old woman with a steady income of £700 odd a month who could quite easily cycle £1750 a month through a bank account?
HSBC did offer her a credit card but I declined it.
I wonder if I could get away with opening a joint account? I suppose I have no use for our Nationwide FlexAccount as we won't be going on any more holidays abroad in the foreseeable future so won't need the travel insurance. 

Frogletina

Barny1979 said:

Why so many accounts?

They all have different advantages. Some needed for linked regular savers, others have better interest rates. 

Actually, just done a recount, I have 3 more. Total 17
5 TSB, only two now have good interest rates till December, may keep one or two for switching offers.
Lloyds for cinema tickets, and regular savers
BOS for regular saver
FD for regular saver
M&S for regular saver
Halifax for £5 reward and regular saver
Yorkshire Bank, for interest rate on £3000 balance
Marcus for interest rate
Santander is my hub for regular saver
transfers on 1st of each month, plus cash back
Cov BS, have my ISAs here, keep £0.50 in current account
Virgin 2% interest on £1000
Nationwide, only keep this as have savings accounts here, this might go.
Nat West, may close soon

I keep thinking I will reduce my accounts then another offer comes along and I think why not!

Oh, and I use Ynab to track them all.

DCFC79

ryno1 said:

Legacy_user said:

I got refused for a HSBC Advance account. The salesperson said it was because I had a current account with another bank.

There was no credit check or anything like that. It took less than thirty seconds for the salesperson to refuse to open an account for me.

I complained online and the relevant part of the response was "[the salesperson] established that the account may not be appropriate for your needs".

The crux of my question is this: did HSBC have a legal right to refuse me service for having an account with another bank or are there consumer protection laws in this instance? I haven't been able to find any relevant eligibility criteria online or in their terms and conditions but this doesn't necessarily mean that they can't do this.

Is it worth applying again at a different branch and just refusing to answer any questions that they might take offense to the answer to?

It's ridiculous. I applied for an advance account last week, just called them, waited 30 minutes on hold to be told it was declined but to my credit rating.

I checked with Experian and have the maximum score of 999.
I'm switching from Santander, who I've been with for 20 years and would be putting all of my income into the Advance account

I suspect they just don't want to open any more accounts as they don't want to fork out for any more £125 rewards for new customers. That was the main reason for my switch 

Its good you dragged up an old thread.

colsten

deadendwaterfall said:

I was considering attempting to switch to an HSBC Advance account to take advantage of the switching bonus, now I've used all of the cinema vouchers attached to my 'Club Lloyd's' account but after reading about the criteria being very notorious for being 'picky', I don't think I want the dubious honor of being refused an account by a banking company. 

What is dubious or (dis-)honourable about getting turned down for a current account?

[Deleted User]

adamp87 said:

David28 said:

I applied for an HSBC Advanced account on behalf of my wife and put her income as £10000
, which is her pension income and she was accepted.

That’s odd because don’t you need £1750 a month or something to open one?

You need to pay in 1750 per month: could easily transfer money out and back in again to satisfy the criterion.

tom410

once you have started the progress of transfering can you stop it before the swich date please

adamp87

profile/Deleted User said:

adamp87 said:

David28 said:

I applied for an HSBC Advanced account on behalf of my wife and put her income as £10000
, which is her pension income and she was accepted.

That’s odd because don’t you need £1750 a month or something to open one?

You need to pay in 1750 per month: could easily transfer money out and back in again to satisfy the criterion.

I understand that but reading other threads & such it’s the source of income/salary that seems to be the factor. They didn’t seem to want you to just pop money in & out. But who knows as the above got accepted maybe it’s not as clear as it seems.