HSBC switch incentive requires donor account to have 2 direct debits OR standing orders!?!

okydoky

Can this be right?

So an old Nat West Account that has been sleeping since I picked up their switch bonus early this year can be used by setting up a couple of standing orders out of it and a minimum pay of £1750 and Bobs your uncle!

Does anyone know if they definitely do not need DDM’s?

Willing2Learn

From the horses mouth:

...you instruct us to start a full switch of a current account, including at least two Direct Debits or Standing Orders, to your Eligible Account using the Current Account Switch Service*2 (CASS) to start within 30 days of the date of your Eligible Account being opened.

badger09

Be aware though, that HSBC (along with First Direct and M&S) are rather choosy over who they accept as customers.

PRAISETHESUN

Yes. You can set up standing orders and still qualify (ridiculously easy I know).
The challenge is getting accepted for the Advance account in the first place... as mentioned, HSBC are known to be rather picky with who they offer accounts to.

buyhighselllow

Signed up Monday, card arrived today

foofi22

Might be stupid, but can I get this bonus after receiving one from First Direct?

YorkshireBoy

foofi22 wrote: »

Might be stupid, but can I get this bonus after receiving one from First Direct?

Any exclusions will be detailed in the offer T&Cs. I couldn't find any, but perhaps you should check for yourself before proceeding.

foofi22

Thanks, from the T&Cs (sorry was being lazy before)

b. you are not an existing HSBC current account holder
on the date of application (and have not been on or after
1 January 2015)*

* You may hold a first direct and/or M&S Bank current account and
still qualify

PixelPound

The T&C are unclear. Do you apply to open the account and once open use the switching service. I'm sure the last switch I did to a bank a/c you switched as part of opening it

soulsaver

nic_c wrote: »

The T&C are unclear. Do you apply to open the account and once open use the switching service. I'm sure the last switch I did to a bank a/c you switched as part of opening it

Got link to the T&Cs?

PixelPound

soulsaver wrote: »

Got link to the T&Cs?

https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/hsbc-advance-account-200-switiching-offer.pdf

c. you instruct us to start a full switch of a current account,
including at least two Direct Debits or Standing Orders, to your
Eligible Account using the Current Account Switch Service*2
(CASS) to start within 30 days of the date of your Eligible
Account being opened. If you are opening a joint Eligible
Account both account holders must do this;

Had read elsewhere that you can get the offer by switching, but rereading, it does seem to be that you don't switch at the application stage but at least 2 days afterwards