We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Refused HSBC Advance account
Comments
-
No why? they won't be getting a decent rate on it.London7766551 said:
Think you have to have 50k savings at least or 100k salary.NottinghamKnight said:
Why are the substantial savings in hsbc?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.0 -
Oh sorry, I guess if you want the account? i'd imagine most people with the account earn the 100k a year, rather than save 50k with the bank.NottinghamKnight said:
No why? they won't be getting a decent rate on it.London7766551 said:
Think you have to have 50k savings at least or 100k salary.NottinghamKnight said:
Why are the substantial savings in hsbc?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.0 -
NottinghamKnight said:
No why? they won't be getting a decent rate on it.London7766551 said:
Think you have to have 50k savings at least or 100k salary.NottinghamKnight said:
Why are the substantial savings in hsbc?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.
A couple of years ago, HSBC had some reasonable fixed rate deals which I went in for. Don't like the stock market. Have lost far too much on it in the past. At the very least, I want some level of guaranteed income on my savings.
0 -
Yes, but they are offering nothing currently. Unfortunately cash savings will dwindle with inflation, which the boe and government are promoting as evidenced by the billions more announced of money printing. Stock market is the only game in town unfortunately, a global tracker would have given you close on 10% a year over the last decade or more, buying individual shares is risky and often costly.Ted_E_Bear said:NottinghamKnight said:
No why? they won't be getting a decent rate on it.London7766551 said:
Think you have to have 50k savings at least or 100k salary.NottinghamKnight said:
Why are the substantial savings in hsbc?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.
A couple of years ago, HSBC had some reasonable fixed rate deals which I went in for. Don't like the stock market. Have lost far too much on it in the past. At the very least, I want some level of guaranteed income on my savings.0 -
No thanks.London7766551 said:
Oh sorry, I guess if you want the account? i'd imagine most people with the account earn the 100k a year, rather than save 50k with the bank.NottinghamKnight said:
No why? they won't be getting a decent rate on it.London7766551 said:
Think you have to have 50k savings at least or 100k salary.NottinghamKnight said:
Why are the substantial savings in hsbc?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.0 -
Why not apply online? There's probably a question about it becoming your main bank account, just click yes, they have no way of knowing if it is or isn't. As long as meet the monthly or 6 monthly pay in requirement0
-
I just got refused. They gave me a basic bank account which is no good as I only wanted global money and you need advance account for that. You can’t reapply for advance either
Service at HSBC is awful , staff cannot answer questions they can only read text from screens which often doesn’t answer the question , so if you can’t find the answer online, the answer doesn’t exist and they cannot help either.
The greatest prediction of your future is your daily actions.0 -
You will need to use the standard account for 6/12 months then re-apply.0
-
dont_use_vistaprint said:I only wanted global money and you need advance account for that.That is incorrect. Their standard 'Bank Account' will also qualify you for their Global Money account. An Advance account is not required.A 'Basic Bank Account' is offered when you do not qualify for any of their other accounts, including the aforementioned 'Bank Account'. Are you perhaps mixing the two up? Often, when they reject an application for their Advance Account, they offer their standard 'Bank Account' instead.1
-
Just to add if you meet the income requirements, it may be worth going into branch and trying to upgrade in person. They will request bank statements (this is how I got the account as a new customer from standard account in 2016)0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards