HSBC £75 switch incentive

Motormad

I haven't seen any reference to this yet on here but came across a £75 switch incentive for HSBC for their everyday current account with a £500 per month pay in,handy for lower earners.

badger09

Motormad wrote: »

I haven't seen any reference to this yet on here but came across a £75 switch incentive for HSBC for their everyday current account with a £500 per month pay in,handy for lower earners.

Thanks

link:

https://www.hsbc.co.uk/current-accounts/products/bank-account/

FUrake

whats the £500 a month pay in for? cant see it in the Ts & Cs for the free £75, just says u have to switch 2 direct debits or standing orders

https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/hsbc-bank-accout-75-switiching-offer.pdf

PRAISETHESUN

The £500 monthly pay in is to keep the account active I believe? There is nothing about it in the switching T&Cs, so I assume it is not required for the switching bonus

FUrake

ah ok, ty!

pafpcg

The eligibility for the offer is covered in Section 4 of the T&Cs. For existing customers it's bad news, but hardly surprising: anyone who has held an HSBC current account at any time since 1-Jan-2015 will NOT qualify for the payment. (This restriction applies only to accounts branded "HSBC" and does not apply to accounts from First Direct or M&S.)

stehouk

I just got this one, switched from halifax, i was declined the advance a few month's ago and was offered this instead but with no switch incentive so i turned it down at the time, glad i did now.

PRAISETHESUN

stehouk wrote: »

I just got this one, switched from halifax, i was declined the advance a few month's ago and was offered this instead but with no switch incentive so i turned it down at the time, glad i did now.

The advance account is also offering an incentive at the moment so maybe put in another application? If they reject you again and offer you a standard account then take advantage of this offer :rotfl:

FUrake

section 4. C in the Ts and Cs says you the account your switching needs to have 2 direct debits or standing orders to start within 30 days of your account switch, ive never used standing orders before, can I setup a standing order to send money to say for example a family member and this would count as an eligible standing order?

Willing2Learn

Yes, you can use Standing Orders to family or to yourself (to another bank account). Just make sure the Standing Orders are part of the switch process, using the Current Account Switch Service (CASS).

PRAISETHESUN

FUrake wrote: »

section 4. C in the Ts and Cs says you the account your switching needs to have 2 direct debits or standing orders to start within 30 days of your account switch, ive never used standing orders before, can I setup a standing order to send money to say for example a family member and this would count as an eligible standing order?

Any standing order is eligible, so yes one to family would count. If you have a second current account, standing orders to that would also count - basically any standing order to literally any other account will count. The value also doesn't matter... even a standing order of £0.01 once a year...