Hsbc

Tigger2018

Already got a FD account. What's the chances of them letting me open a HSBC one ( as they're the same bank arent they? ). For the £175.......

lindylootoo

No - they're not the same. FD have their t's & c's; HSBC have theirs - two different banks!

IanManc

Tigger2018 wrote: »

Already got a FD account. What's the chances of them letting me open a HSBC one ( as they're the same bank arent they? ). For the £175.......

lindylootoo wrote: »

No - they're not the same. FD have their t's & c's; HSBC have theirs - two different banks!

From the First Direct website:

"first direct is a division of HSBC UK Bank plc."

lindylootoo

IanManc wrote: »

From the First Direct website:

"first direct is a division of HSBC UK Bank plc."

When you apply for an HSBC account, it doesn't ask if you have a FD account and there's nothing in the t's & c's.........try it and see!

Brewer20

T&C's.......


You may hold a first direct and/or M&S Bank current account and still qualify.*2 Please note: not all banks participate in CASS; speak to us or your own bank for details.


I checked in branch last year, they were clueless (well the two people at the front desk) as soon as I mentioned FD they told me no you won't get the switch bonus, not true!


Just make sure you qualify as regards the monthly pay in (see the other thread) they may refuse if you can't fund the account with the qualifying monthly amount (with paid income not just cash transfers)

IanManc

lindylootoo wrote: »

When you apply for an HSBC account, it doesn't ask if you have a FD account and there's nothing in the t's & c's.........try it and see!

I was responding to the nonsense you posted about First Direct and HSBC being "two different banks".

First Direct's own website says it is a division of HSBC UK Bank, and I quoted the website.

It isn't unusual for a bank to market several brands - that doesn't make them "two different banks".

It isn't a difficult concept to understand.

xylophone

https://bank.marksandspencer.com/explore/about-us/fscs-protection/

Who owns M&S Bank?
M&S Bank is a trading name of Marks & Spencer Financial Services plc. M&S Bank is part of the HSBC Group. M&S Bank launched in 2012 on the foundations of M&S Money, which was established in 1985 as the financial services division of Marks and Spencer plc. Today, M&S Bank operates as a joint venture arrangement between HSBC and Marks & Spencer, however, M&S Bank has its own banking licence and its own Board.

M&S Bank is a trading name of Marks & Spencer Financial Services plc. Customers who hold deposits with M&S Bank (under one or both trading names) are eligible for one claim of up to the FSCS deposit limit.




https://www.hsbc.co.uk/1/2//popups/fscs/

Protecting your money
Your eligible deposits with HSBC UK Bank plc are protected up to the FSCS compensation limit by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Most deposits are covered by the scheme. This limit is applied to the total of any deposits you have with HSBC and first direct.

Any deposits you hold above the FSCS compensation limit are unlikely to be covered, unless under specific circumstances, as determined by the FSCS.

IanManc

xylophone wrote: »

https://bank.marksandspencer.com/explore/about-us/fscs-protection/

Who owns M&S Bank?
M&S Bank is a trading name of Marks & Spencer Financial Services plc. M&S Bank is part of the HSBC Group. M&S Bank launched in 2012 on the foundations of M&S Money, which was established in 1985 as the financial services division of Marks and Spencer plc. Today, M&S Bank operates as a joint venture arrangement between HSBC and Marks & Spencer, however, M&S Bank has its own banking licence and its own Board.

M&S Bank is a trading name of Marks & Spencer Financial Services plc. Customers who hold deposits with M&S Bank (under one or both trading names) are eligible for one claim of up to the FSCS deposit limit.




https://www.hsbc.co.uk/1/2//popups/fscs/

Protecting your money
Your eligible deposits with HSBC UK Bank plc are protected up to the FSCS compensation limit by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Most deposits are covered by the scheme. This limit is applied to the total of any deposits you have with HSBC and first direct.

Any deposits you hold above the FSCS compensation limit are unlikely to be covered, unless under specific circumstances, as determined by the FSCS.

One of my mates works for M&S Bank and says that although the staff are HSBC Group employees they still get the 20% M&S staff discount card.

I think it is the only thing that makes him stay.

dcs34

Check the terms and conditions from the switch offer. From memory they don't exclude each other (in terms of switching), however you might not be eligible for the offer from one bank if you've recently received a bonus from switching to the other bank.

Same applies to NatWest and RBS.

PRAISETHESUN

If you read the T&Cs of the HSBC offer closely, as has been highlighted above, you will find that you may hold a FD/M&S Bank current account and still qualify for the HSBC switch incentive. I've personally received switch incentives in the last year from all three of these banks. The hardest part is being accepted by them in the first place, since they are notorious for being picky with their customers. If you are able to open an account with them (subject to credit searches, income requirements, etc) then as long as you meet the terms of the offer(s) (active DDs, minimum monthly pay ins, etc) then you will be eligible for the incentives