HSBC switch bonus

FBC712

Hi All,

Long time lurker, first time poster.

Does anyone have any idea how long HSBC switching bonus offers last for? I've just switched to Natwest and think I'll switch that once the bonus comes through in April, does anyone think that's too late?

Willing2Learn

Why not open up a new donor account if you haven't got a spare one? If you were to leave it for a couple of months, then HSBC may have withdrawn their switch offer by then...as there is no way to foresee how long the offer will be running...

FBC712

Laziness mainly, thought it would be handy to just use the Natwest one if people thought the HSBC offer would be open a while

YorkshireBoy

FBC712 wrote: »

Laziness mainly, thought it would be handy to just use the Natwest one if people thought the HSBC offer would be open a while

A google search (or a search of the weekly emails sent by MSE) will inform you of the frequency of HSBC offers.

It will also inform you of the amounts offered. You will see that there have been periods of zero offers, then a £200 offer, the current £150 offer, and maybe more.

There's no pattern, so it's down to you. But my approach would be a bird in the hand is worth two in the bush!

My advice?...stop being lazy and grab them whilst you can, using the aforementioned donor account method. £600-700 by the summer (and doubled if there are two of you) will trounce most people's interest earned in the same period...unless you have a lot of cash savings (and most people in the UK don't!).

alandaniel132

What you mean by donor account?

FBC712

They mean an account you just set up so you can switch

18cc

You can get £175 bonus using the MSE link

spinnin

So it says on MSE that you need to pay in £1,750 for 6 months, but that the bonus is paid within 30 days of switching (which should take 7 days).

Does that not mean the min monthly pay in is unenforceable (after the first month at least), as you've already got the bonus before having to fulfil that crieria? You could have all withdrawn and they're hardly able to pursue you, no?

Dorian1958

In addition to the £150 switch bonus, I will be getting another £50 in December if I fulfill the account terms and conditions. So, possibly worth keeping for that, if still on offer. I also wanted the linked 5% regular saver account max £250 per month, to help save for DD's uni costs. £1750 in and out using faster payments to meet deposit conditions.

badger09

spinnin wrote: »

So it says on MSE that you need to pay in £1,750 for 6 months, but that the bonus is paid within 30 days of switching (which should take 7 days).

Does that not mean the min monthly pay in is unenforceable (after the first month at least), as you've already got the bonus before having to fulfil that crieria? You could have all withdrawn and they're hardly able to pursue you, no?

With respect to MSE, the relevant T&Cs are those of HSBC, not MSE;)

You need to check the full T&Cs here. https://www.hsbc.co.uk/current-accounts/switching-to-hsbc/

They will also tell you if there is a minimum period, clawback etc

stevetervit

Applied for switch via MSE but only got £150 not £175. Anyone else?