HSBC switching bonus when with First Direct

Daggo87

Hi all.

I have been an avid bank account switcher and taken full advantage of the bank wars.

However I am currently with First Direct which has been used as my switching account and have another current account for some years with Barclays.

I am wondering if any knows if I switch my Barclays to HSBC and transfer my wage between the HSBC and first direct to meet the monthly pay in it will be ok.

As I am concerned they are part of the same bank will HSBC view money coming from a FD account as technically from HSBC account and therefore not qualify.

Any help appreciated.

Thanks

Daggo
:beer:

colsten

Have you read the HSBC switch T&Cs? They clearly state "You may hold a first direct and/or M&S Bank current account and still qualify"

HSBC are very picky and don't accept everybody for their Advance account. One criterion is that your income of at least £1,750 a month (or min £10,500 every 6 months) gets paid into the HSBC account. Your own transfers won't count, whatever bank they might come from. Presumably you can have your wages paid into HSBC instead of into FD?

If you decide to go ahead, please do read the HSBC switch offer T&Cs.

NB. There are no bank wars. Thankfully.

PRAISETHESUN

My understanding is that whilst HSBC, First Direct and M&S Bank are all part of the HSBC banking group, they are treated as external banks under most circumstances (ie. you can't call up HSBC customer support to get assistance for a FD current account). In my mind, the fact that they pay switch incentives to FD/M&S Bank account holders further supports this. Whilst I haven't tried it, I would assume that transferring money between a HSBC account and a FD account would satisfy the minimum pay in requirements for both since they should treat them as "external" accounts.

System

The banking group is irrelevant.

M&S Bank has it's own banking license and therefore is not the same bank. Whilst, HSBC Bank UK and First Direct are legally the same bank.

Only the T&Cs are of relevance here.

worriedsingledad

Hello,

Sorry if I'm asking the same question but I hope someone can give me a yes/no answer to if I'm eligible.

In the key info on MSE it says:
"Who's eligible for offer: Anyone who's not had an HSBC current account since 1 January 2016 and meets switching criteria"

I have a First Direct account open now, I've also had a First Direct account in the past (more recently than Jan 2016).

Although FD is part of HSBC I've never had an account directly with HSBC - so does that make me eligible for the switch bonus?

Thanks,
RT

[Deleted User]

worriedsingledad wrote: »

Hello,

Sorry if I'm asking the same question but I hope someone can give me a yes/no answer to if I'm eligible.

In the key info on MSE it says:
"Who's eligible for offer: Anyone who's not had an HSBC current account since 1 January 2016 and meets switching criteria"

I have a First Direct account open now, I've also had a First Direct account in the past (more recently than Jan 2016).

Although FD is part of HSBC I've never had an account directly with HSBC - so does that make me eligible for the switch bonus?

Thanks,
RT

Did you not read the above posts?

worriedsingledad

it would have taken you less time to reply 'yes' or 'no'. I wasnt sure - thats why I asked. Sorry I annoyed you so much.

[Deleted User]

worriedsingledad wrote: »

it would have taken you less time to reply 'yes' or 'no'. I wasnt sure - thats why I asked. Sorry I annoyed you so much.

Actually it would have taken you less time to read the second post in the thread.

But such is life

worriedsingledad

I applied and got rejected.

Bye Gary

lindylootoo

worriedsingledad wrote: »

I applied and got rejected.

Bye Gary

Oh - so did I.

Phone them up and find out why...........then see my post on here which I'm just about to complete - or send me a PM!
If you've read the t's & c's and can comply with them - you qualify!

[Deleted User]

Doesn’t mean it’s because you hold a FD account.

HSBC just don’t want you as a customer for their advance account.

And they’re not obliged to tell you the reason for the rejection