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

Brewer20

Sounds good this one and I nearly switched on the last offer from HSBC.


Now the switch incentive is up for grabs again I have an ideal account to switch with two DD already set up.


I'm just a bit cautious as some have mentioned HSBC are picky with who they give accounts to. Can anyone enlighten me why and for what reasons? The only one's I can think of are amount of one's earnings, that in itself may be a stumbling block for me (low income, pension) but it's never stopped me opening any accounts in the past, infact it's been a breeze with most.
Obviously I've got the money to recycle once the accounts set up, if I can get one.

harz99

buyhighselllow wrote: »

Getting a bit frustrated with the this now. My Banking no. finally arrived 2 weeks after switching. so tried to log on/ register online last night and this morning and getting "system Problem" message.

Could simply be weekend system maintenance.

buyhighselllow

harz99 wrote: »

Could simply be weekend system maintenance.

They had recorded some details wrong, its sorted and the money is in :beer:

EachPenny

Brewer20 wrote: »

I'm just a bit cautious as some have mentioned HSBC are picky with who they give accounts to. Can anyone enlighten me why and for what reasons? The only one's I can think of are amount of one's earnings, that in itself may be a stumbling block for me (low income, pension) but it's never stopped me opening any accounts in the past, infact it's been a breeze with most.

As far as I know HSBC won't give you chapter and verse if your application is declined.

The responses will be along the lines of "We are unable to offer you an account at this time" (aka there is something horrible in your credit history or fraud checks, please go away) or "We are unable to offer you an Advance account, but would like to offer you a standard one instead" (aka there's nothing wrong with you as such, but we don't think you are worthy of our best account (yet)).

From comparing notes on forums like this one, the latter response appears to be where you have an income less than the equivalent of £1750 per month, even though this is not a requirement in the published T&C's.

Some people are tempted to lie about their income in order to exceed the £1750/mth figure, but personally I think this is unwise as part of the checking process compares information you've given on one application to information previously given. So someone lying about their income to get the account could find their next rejection is due to a fraud flag somewhere.

If you do earn over £1750 per month (equivalent) you should be fine. Unless the HSBC computer is having a bad day.