HSBC Advance Deposits

becbecm

Hi all,
I am new to this forum and decided to join because I need some help with a HSBC Advance account query.

I have been a long standing current account holder with HSBC since I was little and never banked anywhere else, I decided to open a Advance account however done this via online as a switch, little did I know it wasn't classed a switch as I am already a customer with them and I do not earn the £1750 as requested. Anyway this resulted in them opening the account for me anyway but as a new secondary account. I rang to ask about the switch offer to which they said and I understand I am not eligible to this as i'm not switching from another bank, they said what I probably was looking to do is upgrade my current account so thats fine and what I intended to do.

So having passed the checks as they already opened me the account it should be plain sailing now as they asked me a lot of questions which I responded to correctly, my only gripe is I earn roughly after tax £1560 a month so in order for me to keep this account I need to make up the difference to make the £1750 pay in.

How should I go about doing this as I'm unsure, do I simply withdraw the difference and pay it back in is this allowed of course this would be the most simple method.

Or do I have to open a new bank account elsewhere, transfer the difference out and pay that back in?

Thoughts?

Thanks in advanced for this :beer:

DREKLY

withdraw £200, pay it back in, same day if its easier, simples.

becbecm

And I'm fine to keep doing this? They wont questions this if I were to do this every single month?

Takmon

becbecm wrote: »

And I'm fine to keep doing this? They wont questions this if I were to do this every single month?

I pay in £1750 from another account (with another bank) using a bank transfer and back out again each month without issues as do a lot of people on here.

It's much easier to do it this way that messing about withdrawing cash. Plus if you don't have any account with other banks it's a good idea to open one as a backup.

becbecm

I do not have another bank account and I would prefer not to have to open another one due to lack of funds etc so if the cash withdrawal method works I am more than happy to do this thank you though

Missus_Hyde

Takmon wrote:

Plus if you don't have any account with other banks it's a good idea to open one as a backup.

becbecm wrote: »

I do not have another bank account and I would prefer not to have to open another one due to lack of funds etc so if the cash withdrawal method works I am more than happy to do this thank you though

It's always advisable to have another current account as a back up, just in case there's a problem with one account (the recent TSB debacle, for example) or if you should fall out with your main bank.

You can recycle the same money through two different accounts without needing to have any extra funds.

penners324

I've got 3 current accounts on the go, 1 as my main account, 1 just for the regular saver attached and 1 waiting on a switching offer bonus (then I'll switch it another one).
The last 2 run with a balance of £0 or 15p.

With banking apps and account aggregators it's now very easy to control multiple accounts.

Ps my main bank is an App only bank.

becbecm

So to clarify everything here:
I can either withdraw cash and just cash back in the difference (even if the balance wasn’t £1750 to begin with)

Or I can set up a secondary bank account else’s where and again transfer money out from my HSBC into the new account and transfer back (again both balances less than the £1750 to begin)

:T

[Deleted User]

You can’t transfer amounts between two HSBC accounts. This is in the T’s and C’s.

becbecm

Thank you for pointing that out but I already know this. I just opened up a Barclays account to do this from