HSBC switch

rainbow143

Thanks so much for your replies and advice.
I'm aware it may look like I'm complicating the issue, but I want to switch the 123 account I have now because my husbands and my pensions etc are paid into it. It seems sensible to use the Switch system with that account as it will be a lot easier for me. I don't want to have to start switching things myself.
It seemed a lot easier when you had the choice to keep your original bank account open - which was the system a few years ago.
Thanks again.

harz99

rainbow143 wrote: »

Thanks so much for your replies and advice.
I'm aware it may look like I'm complicating the issue, but I want to switch the 123 account I have now because my husbands and my pensions etc are paid into it. It seems sensible to use the Switch system with that account as it will be a lot easier for me. I don't want to have to start switching things myself.
It seemed a lot easier when you had the choice to keep your original bank account open - which was the system a few years ago.
Thanks again.

Maybe ring their customer services and ask if what I suggested regarding an Everyday account would work and enable you to keep the Regular eSaver open and keep the higher interest rate.

rainbow143

I rang customer services yesterday - and the girl I spoke to had to go and ask for advice from a supervisor twice!!
That's why I went on their Twitter account so that I'd get something in writing in case things went wrong.
It's amazing how it's so difficult to get a straight answer from Santander themselves.
Might pop into a branch to ask - but there isn't one very close to my home. But I'll find one!!
Many thanks.

NoodleDoodleMan

@NoodleDoodleMan

No, you need to set up either two DDs or two SOs before you start the switch or you won't get the incentive reward

Thanks - one other question came to mind after I'd posted - does the monthly pay in of £1750 have to come from any specific income source like salary or pensions - or can it be a transfer from another bank ?

billy2shots

What will you lose if you lose the interest from your regular saver,£30?

If so its not worth worrying about

Emily_Joy

rainbow143 wrote: »

It seemed a lot easier when you had the choice to keep your original bank account open - which was the system a few years ago.

The condition of incentive is a full switch. That is, if your original account remains open, you won't get £150 bonus, but you still have a choice to keep it open, though.

binaryuniverse

Any reason you can't just open a second Santander (or an account anywhere) account and switch that?

PRAISETHESUN

rainbow143 wrote: »

Hi all,
I want to switch from Santander to HSBC to make use of their current offer of £150.
The problem I have is that I currently have a regular saver with Santander - and if my current account is closed, the saver will also close as the T&C's say you have to have a current account. Therefore I will lose out on 9 months interest - it matures in December.
I could wait until December to switch, but the HSBC offer may have finished by then.
I had thought that I could open another Santander current account, swap a few Direct Debits to that account, then switch from that account. Not sure if this will work though!!
Has anybody any advice or comments please?
Many thanks in advance.

You can do this - open a second Santander account, set up 2 standing orders and then switch this account to HSBC to qualify for the switching bonus.

If you are worried about losing your 5% saver, then open up a second 123 account.

PRAISETHESUN

NoodleDoodleMan wrote: »

Thanks - one other question came to mind after I'd posted - does the monthly pay in of £1750 have to come from any specific income source like salary or pensions - or can it be a transfer from another bank ?

The minimum monthly pay in can come from any source, as long as it is external to HSBC. I find it easiest to have standing orders to pay in/out from/to my main current account.