HSBC Advance Bank Account

Brandy1954

Using the Moneysavingexpert link I tried to open an HSBC Advance Bank Account. The response:

Application outcome
We're sorry, we're unable to offer you an HSBC Advance Account at the moment. However, we can offer you an HSBC Bank Account.

You can ask us to reconsider your application, please give us a call on 03457 404 404. You can provide additional information and we will review this together with the data on which our original decision was based.

So I can have a bank account with HSBC but not the Advance account. I called the number and asked why? No sensible answer was provided. I think it was due to my income being under the limit (for tax purposes) for the account but no request for any other saving or investments was requested by HSBC. Why do I feel this promotion is just a way of HSBC getting a line of communication with potential customers!

Krash420

If you're looking to make use of the Advance accounts interest rate, Id highly recommend that you open that regular current account, keep it for six months and transfer thr money into it as required for the advance account and ask them to upgrade it.

They are very strict about rhe criteria from my experiance and I was denied back when I tried to open it back in 2015 (I have been with HSBC since 2001), I just didnt use it for my salary.

Started using it for my salary and went back in 3 months later and they were happy to upgrade to Advance account.

So dont let it get to you, just open it, put in the money and ask to be upgraded in a couple months time.

[Deleted User]

Take your business elsewhere; plenty of other good bank accounts. Why patronise them with your business ?

Brewer20

Banks ask how you are going to fund the account, how do HSBC ask this? Do they require a salary being paid in or just ask about the funds your are paying in?


I've heard they are strict so I've not indulged in their switching offer, although I can meet the min pay-in it won't be via a salary, I'm retired.


I can see a benefit in having this account with their 5% regular saver but if you're only after the switch bonus apply for the Halifax account, less hassle about how much you got to pay in/salary etc.

fiestaman87

Brandy1954,

The only financial eligibility for the HSBC Advance current account is the need to pay at least £1750 per month into the account. There are no other qualifications with regard to savings or investments with HSBC. I'm guessing from your OP that you don't pay enough in each month to qualify?

If you have at least 50k in savings or investments with HSBC (or at least a 75k salary + mortgage/investment/life insurance product with them) you can get their Premier current account. Their website does not make mention of a regular credit into that account.