HSBC Advance Account

18cc

You can do it in whatever amounts you want at whatever frequency you want as long as it adds up to 1750 a month

any payments in you can of course it immediately take out should you wish to

NoodleDoodleMan

I am looking at switching to this. Does the obligatory £1750 per month have to come from one payment,i.e salary, or can I pay in from my First Direct account as a transfer each month?

As above - from any source other than a HSBC internal transfer, and as long as the funds credited amount to £1750 per month.

I haven't read theTs&Cs in detail yet - I assume that the frequency means a calendar month, and not within the anniversary "month" that some other banks (ie Santander) operate.

[Deleted User]

I like the fact that I can see incoming and outgoing pending transactions the day before they happen.

eskbanker

mummyof5 wrote: »

I like the fact that I can see incoming and outgoing pending transactions the day before they happen.

Now that's what I call a unique selling point from a bank - telling you about transactions you haven't even made yet!

[Deleted User]

eskbanker wrote: »

Now that's what I call a unique selling point from a bank - telling you about transactions you haven't even made yet!

It saved my bacon when my daughter's gymnastics failed to tell me the monthly payment had gone up

stripeyfox

mummyof5 wrote: »

I like the fact that I can see incoming and outgoing pending transactions the day before they happen.

I like this feature, but didn't realise it was an "Advance" only feature

[Deleted User]

stripeyfox wrote: »

I like this feature, but didn't realise it was an "Advance" only feature

It probably isn't .
That will teach me not to read the OP properly !

Spanishsunawaits

Hi - I copied this from this MSE site:

Minimum monthly pay-in: £1,750 (or £10,500 every six months – equates to a £26,000 annual salary). HSBC's bank account has a £500/mth min pay-in and offers £75 to switch

Does this not mean they are going to want my salary to be paid in and if so, I don’t earn that amount.

Has anyone switched an account recently to HSBC in the same position as me? Thanks.

eskbanker

Spanishsunawaits wrote: »

Hi - I copied this from this MSE site:

Minimum monthly pay-in: £1,750 (or £10,500 every six months – equates to a £26,000 annual salary). HSBC's bank account has a £500/mth min pay-in and offers £75 to switch

Does this not mean they are going to want my salary to be paid in and if so, I don’t earn that amount.

Has anyone switched an account recently to HSBC in the same position as me? Thanks.

It's often been reported on here that HSBC have declined Advance applicants with salaries below £26K, even though the Ts & Cs don't explicitly mandate this as a prerequisite.

In one previous thread about this, a poster claimed to have successfully challenged them on this apparent discrepancy between published and unpublished criteria, after an initial decline:

https://forums.moneysavingexpert.com/discussion/6004490/hsbc-advance-account-switching-cashback-175

So, no harm in trying but don't build your hopes up (and don't be tempted to make any false declarations)....

Terry_Towelling

HSBC gave me an Advance account. I don't have a salary - just a small DB pension and Carer's Allowance totalling about £12K. I was open with them about this from the start.

I don't have the account any more. Their website functions never worked properly (for me) and various other issues cropped up in a short space of time. They gave me £50 compo (which I wasn't expecting) but I closed the account anyway.