Refused HSBC Advance account

Tragen

profile/Deleted User said:

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

You dont have to. Nothing will happen if you pay in less/nothing, AFAIK.

London7766551

adamp87 said:

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.

For my first advanced account, I had to show evidence of my salary as I was upgrading from a standard account and had not paid in six months worth of salary at the time up upgrade.

The second time no proof was required and they just took my answer of salary at face value.

May I ask why people want to upgrade to this account if you have the hassle of moving money around? it doesn't really offer anything apart from the 2.75% saver and perhaps the reward credit card.

colsten

London7766551 said:

adamp87 said:

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.

For my first advanced account, I had to show evidence of my salary as I was upgrading from a standard account and had not paid in six months worth of salary at the time up upgrade.

The second time no proof was required and they just took my answer of salary at face value.

May I ask why people want to upgrade to this account if you have the hassle of moving money around? it doesn't really offer anything apart from the 2.75% saver and perhaps the reward credit card.

You can have the Regular Saver with a normal HSBC account

London7766551

colsten said:

London7766551 said:

adamp87 said:

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.

For my first advanced account, I had to show evidence of my salary as I was upgrading from a standard account and had not paid in six months worth of salary at the time up upgrade.

The second time no proof was required and they just took my answer of salary at face value.

May I ask why people want to upgrade to this account if you have the hassle of moving money around? it doesn't really offer anything apart from the 2.75% saver and perhaps the reward credit card.

You can have the Regular Saver with a normal HSBC account

Oh dear, HSBC really have abandoned the advanced account.

kaMelo

London7766551 said:

colsten said:

London7766551 said:

adamp87 said:

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.

For my first advanced account, I had to show evidence of my salary as I was upgrading from a standard account and had not paid in six months worth of salary at the time up upgrade.

The second time no proof was required and they just took my answer of salary at face value.

May I ask why people want to upgrade to this account if you have the hassle of moving money around? it doesn't really offer anything apart from the 2.75% saver and perhaps the reward credit card.

You can have the Regular Saver with a normal HSBC account

Oh dear, HSBC really have abandoned the advanced account.

They have indeed, the Advance Members website closed around September, no special rate regular saver. Other than a different coloured card I fail to see what the difference is between Advance and their plain old bank account.

I also want to change the narrative about HSBC. I've never had an issue with HSBC, Metro Bank on the other hand....
Metro Bank are notoriously picky about who they give an account to.
I was turned down earlier this year and wear the badge with honour.

xlnc99

I think you dodged a bullet. HSBC online is awful although their customer service is quite good. BOS, Halifax, Lloyds get my vote.

phillw

I and a friend were refused an advance account, pretty sure it was to do with income.

Ted_E_Bear

I have an Advance account. I have no monthly salary income going in to it, but I do use it as my main current account, and I have substantial savings with HSBC to the extent I was asked some time ago if I wanted a Premier account, something I saw no benefit in having. Aside from the 2.75% monthly saver, there's no benefit to the Advance account either.

NottinghamKnight

Ted_E_Bear said:

I have an Advance account. I have no monthly salary income going in to it, but I do use it as my main current account, and I have substantial savings with HSBC to the extent I was asked some time ago if I wanted a Premier account, something I saw no benefit in having. Aside from the 2.75% monthly saver, there's no benefit to the Advance account either.

Why are the substantial savings in hsbc?

London7766551

NottinghamKnight said:

Ted_E_Bear said:

I have an Advance account. I have no monthly salary income going in to it, but I do use it as my main current account, and I have substantial savings with HSBC to the extent I was asked some time ago if I wanted a Premier account, something I saw no benefit in having. Aside from the 2.75% monthly saver, there's no benefit to the Advance account either.

Why are the substantial savings in hsbc?

Think you have to have 50k savings at least or 100k salary.