HSBC Current Account Switch

patch9495

Good Morning All,


I am looking at switching my current account to HSBC for the £175 bonus.


I have recently taken out a mortgage with HSBC and although I do not have any current account tih them have been advised by the staff in the branch that I will not be eligible for the £175 bonus.


Is this correct as the MSE site states the switching bonus is eligible for "Anyone who's not had an HSBC current account since 1 Jan 2016 and meets switching criteria"


Thanks in advance

[Deleted User]

I know it states "current account" but I think it is actually any HSBC product.

It's the same with First Direct - I had a home insurance policy with them a year or 2 ago and they said because of this I am not eligible for the switching bonus they offer either

aj23_2

I had an HSBC Current Account which I'd for years and years and it went dormat. I close it with the £3 or whatever in it in June 2017. I completely forgot I'd had it when did a switch for the £75 last month, so I won't get it. Being refered to Nationwide instead and use RS will be better off anyway.

patch9495

In that case then I feel my best bet to switch will be to the First Direct account (Already have an RBS account).


I know they share the same FSC protection as HSBC but will I still be eligible for the bonus with a HSBC mortgage?

[Deleted User]

You should be OK - but best to ask before making the application

ste_coxy

So if I tried to transfer my First Direct account I wouldn't qualify for the bonus?

ceredigion

ste_coxy wrote: »

So if I tried to transfer my First Direct account I wouldn't qualify for the bonus?

https://forums.moneysavingexpert.com/discussion/5971277/switching-to-hsbc
#5
and the T&C, as it Sunday
https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/TandCs-for-Advance-Bank-Account-Switch-Offer.pdf

tomthered

Quick question guys, I just want to check:

I have a Nat West account which I intend to transfer. Have just set up 2 direct debits to go out within 3 to 5 days. The way I read it is i have to get an account first and then, within 30 days of opening the account, use the Switching service and then I will get the £175 bonus within 28 days.

Is that right?

Mjc_100

I have completed a switch to HSBC and received the switching reward of £175 into the account .
Does anyone know if you have to run the account for a minimum period of time before I can switch again or can I now switch away from HSBC now that everything has completed.

badger09

Mjc_100 wrote: »

I have completed a switch to HSBC and received the switching reward of £175 into the account .
Does anyone know if you have to run the account for a minimum period of time before I can switch again or can I now switch away from HSBC now that everything has completed.

Unless there is something in the switch incentive T&Cs specifying a minimum period, or clawback of the switch incentive, then you can switch whenever you want.

Do you not want to make use of the 5% regular saver?