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Willing2Learn

akh43 wrote: »

Recently retired so on paper dont earn enough to fund the £1,750 a month, but this will not be a problem. If I put my yearly pension are they likely to turn me down for the account due to income being too low? Has anyone done this or had problems when doing this? I dont want to waste my time applying if likely to be turned down.

Hi,


I also applied for the Advance account, even though my income is below £1,750/month. HSBC automatically offered me their Bank current account instead (£500/month pay in and £75 switch incentive). I only needed to make the one application and there was only one credit search.

akh43

Pension approx £14,700, but have a lump sum I intend to use to make up to £1,750 a month, so I plan to say have put extra money of £750 from other source. I want the Advance account as wanted the regular savings of 5% and bigger cashback. Has anyone done this?

Missus_Hyde

akh43 wrote: »

Pension approx £14,700, but have a lump sum I intend to use to make up to £1,750 a month, so I plan to say have put extra money of £750 from other source. I want the Advance account as wanted the regular savings of 5% and bigger cashback. Has anyone done this?

Don't quote me, but I have a feeling that your application wouldn't be successful on the face of it; I'm in a similar position and like you could easily fulfill the paying in requirement ( I simply recycle money from another source).

However, I didn't even bother to apply for the Advance account for myself (husband was no problem as his income is above the limit needed) but went straight for the ordinary bank account for myself which was sorted for both of us (including regular savers) within a week.

However, don't let me put you off; I'm only relating my own and husband's experience.

maxximus75

If you apply and don't meet their criteria from the Advance account, you are more than likely be offered the Standard account so it's worth a shot?

akh43

Missus_Hyde wrote: »

Don't quote me, but I have a feeling that your application wouldn't be successful on the face of it; I'm in a similar position and like you could easily fulfill the paying in requirement ( I simply recycle money from another source).

However, I didn't even bother to apply for the Advance account for myself (husband was no problem as his income is above the limit needed) but went straight for the ordinary bank account for myself which was sorted for both of us (including regular savers) within a week.

However, don't let me put you off; I'm only relating my own and husband's experience.

Just tried and they only offered me the regular one so I declined it as I really wanted the other account and its not worth the hassle of moving banks for the lesser cashback and lower regular savings.