HSBC Switch from TSB

Mohammed_Khatri

Hi all,

I opened up a new HSBC account yesterday to take advantage of the £175 offer. I've requested my switch to be completed on 08/11/19.

Currently when I log in to my TSB account I can see a Classic Account and a eSavings Account both have the same sort code but different account numbers.

During the switch request I only provided the account number of my Classic Account. My question is:
1) Will I still qualify for the £175 offer?
2) When the switch is completed what happens to my eSavings account?
3) Is it still possible to transfer both accounts across?

Thanks!

PRAISETHESUN

CASS only switches current accounts - savings accounts are unaffected and will not affect your eligibility for the HSBC offer (provided you meet all the other conditions). You'll need to check the T&Cs of your TSB savings account, but my money is on that closing your TSB current account will make you ineligible top keep your TSB savings account open. You will need to open a new savings account with HSBC and then transfer your money across yourself.

Mohammed_Khatri

So I finally managed to get through to the HSBC switch team.

1) Yes the £175 offer is for current accounts
2&3) Switch is only for current accounts so the money from the eSavings needs to be transferred across to the current account before the switch.

Robisere

Is it an eSavings account or is it the Monthly Saver? I have the Monthly Saver, taking advantage of the 2% that earns up to £1500. When it goes above that figure, I transfer the surplus to another Savings account with another provider. The eSaver is a very poor earner.

I would not be interested in switching the TSB Classic account (3% up to £1500) and the Monthly Saver (2% up to £1500) just to gain £175. Both of those TSB accounts have earned more than that in the >3 years I have had them. Especially when they were 5% up to £2500. If TSB drop that, I will be looking around.

General_Grant

Robisere wrote: »

Is it an eSavings account or is it the Monthly Saver? I have the Monthly Saver, taking advantage of the 2% that earns up to £1500. When it goes above that figure, I transfer the surplus to another Savings account with another provider. The eSaver is a very poor earner.

I would not be interested in switching the TSB Classic account (3% up to £1500) and the Monthly Saver (2% up to £1500) just to gain £175. Both of those TSB accounts have earned more than that in the >3 years I have had them. Especially when they were 5% up to £2500. If TSB drop that, I will be looking around.

Could you switch to HSBC for the £175 and then open TSB account?

badger09

Robisere wrote: »

Is it an eSavings account or is it the Monthly Saver? I have the Monthly Saver, taking advantage of the 2% that earns up to £1500. When it goes above that figure, I transfer the surplus to another Savings account with another provider. The eSaver is a very poor earner.

I would not be interested in switching the TSB Classic account (3% up to £1500) and the Monthly Saver (2% up to £1500) just to gain £175. Both of those TSB accounts have earned more than that in the >3 years I have had them. Especially when they were 5% up to £2500. If TSB drop that, I will be looking around.

TSB have 2 current accounts with Classic in the name:

Classic - no interest
Classic Plus - 3% up to £1500 as you say

OP mentioned Classic, not Classic Plus.;)