Regular Savings Accounts: The Best Currently Available List!

dqnet

MarkFromMullion wrote: »

Does anyone here know what the criteria are?

https://www.hsbc.co.uk/1/2/personal/current-accounts/hsbc-premier/eligibility


However this is rubbish as I called them and they declined and said you can walk into a branch and at their discrestion may upgrade you.
Thats exactly what I did with only 10k in the account and asked to upgrade. I blagged my way that I will have money coming in here and there with an ISA already with them at around 3.7k and they upgraded me there and then. I am still trying to understand want benefits I really have???????? but hey, 6 months for free on primier surely there must be something to benefit.

p.s. after the initial 6 months they check your balance and status for the eligibilty requirements abov

i'm sure you can blag your way out for another 6 months or so though............

adindas

I did not see any clause mention that the branch could accept non-standard application with their own discretioan. All I have seen is that :

HSBC Premier is available without a monthly account fee if you meet any of the following criteria:

• You have savings or investments of at least £50,000 with HSBC in the UK. We request that your main income is paid into your HSBC Premier Bank Account; or
• You have an individual annual income of at least £100,000 paid into your HSBC Premier Bank Account and either: 1. a mortgage(s) of at least £300,000 with HSBC in the UK
  2. a product taken out through our independent financial advisory service, excluding mortgage-related insurance; or
• You qualify for HSBC Premier in another country.

Could anyone shed the light where we could get information to qualify for Premier A/C without meeting the above criteria ?

The problem with HSBC is that their other saving product is less competitive, so there is no point to get 10% for the very small amount of money, if you need to put your other bulk of money in less competitive interest rate.

But other thing to consider is that HSBC has a very good customer service.

ADINDAS

dqnet wrote: »

https://www.hsbc.co.uk/1/2/personal/current-accounts/hsbc-premier/eligibility


However this is rubbish as I called them and they declined and said you can walk into a branch and at their discrestion may upgrade you.
Thats exactly what I did with only 10k in the account and asked to upgrade. I blagged my way that I will have money coming in here and there with an ISA already with them at around 3.7k and they upgraded me there and then. I am still trying to understand want benefits I really have???????? but hey, 6 months for free on primier surely there must be something to benefit.

p.s. after the initial 6 months they check your balance and status for the eligibilty requirements abov

i'm sure you can blag your way out for another 6 months or so though............

dqnet

adindas wrote: »

I did not see any clause mention that the branch could accept non-standard application with their own discretioan. All I have seen is that :

HSBC Premier is available without a monthly account fee if you meet any of the following criteria:

• You have savings or investments of at least £50,000 with HSBC in the UK. We request that your main income is paid into your HSBC Premier Bank Account; or
• You have an individual annual income of at least £100,000 paid into your HSBC Premier Bank Account and either: 1. a mortgage(s) of at least £300,000 with HSBC in the UK
  2. a product taken out through our independent financial advisory service, excluding mortgage-related insurance; or
• You qualify for HSBC Premier in another country.

Could anyone shed the light where we could get information to qualify for Premier A/C without meeting the above criteria ?

The problem with HSBC is that their other saving product is less competitive, so there is no point to get 10% for the very small amount of money, if you need to put your other bulk of money in less competitive interest rate.

But other thing to consider is that HSBC has a very good customer service.

ADINDAS

I'm not saying that is a clause.. All I am really doing is relaying what the customer support representative told me over the phone.
He said:

"you could walk into one of our branches and explain why and what you need it for as such and at their discretion may upgrade you to it."

Thats exactly what I did... I walked in there and she asked simple questions like why do you need it. I said for the world selection portfolio and for the regular savings and that a lot of money moves in and out of my account and that I dont like Lloyds anymore. She said "you do know you dont directly qualify for it though" I just said dont worry I will be meeting it over the coming months and that I think it will benefit me. She simply said: "ok i will upgrade you"
She also said you have 6 months to meet it otherwise your account will drop to a normal account or you will get charged 25 pounds a month. I told her before you charge 25 please notify me. She said off course, we let you know a month before.

So yes, if you blag, you can get it.....

adindas

Dear dqnet

Thank you for your update. I think is still quite problematic as the requirement £50.000 is still there and it is within 6 months.

As I mention before the main problem with HSBC is that:
- Their product is not competitive enough in term of interest rate, unless you want to invest a huge amount of money or tp pay such as advance account.
- There is no point to put £250.00 a month with 10% interest if the bulk amount of the money £50.000 is in inferior interest rate. Their finance port folio is not the best. The fee for buying investment product is not competitive.

I had HSBC investment product and invest about £300 a month as a prt of my maxi ISA but finally I stop it after I get to know that every time I invest £300.00 I need to pay £12.50. So £300 investment value for £12.50 monthly .... was is not crazy ???

dqnet wrote: »

I'm not saying that is a clause.. All I am really doing is relaying what the customer support representative told me over the phone.
He said:

"you could walk into one of our branches and explain why and what you need it for as such and at their discretion may upgrade you to it."

Thats exactly what I did... I walked in there and she asked simple questions like why do you need it. I said for the world selection portfolio and for the regular savings and that a lot of money moves in and out of my account and that I dont like Lloyds anymore. She said "you do know you dont directly qualify for it though" I just said dont worry I will be meeting it over the coming months and that I think it will benefit me. She simply said: "ok i will upgrade you"
She also said you have 6 months to meet it otherwise your account will drop to a normal account or you will get charged 25 pounds a month. I told her before you charge 25 please notify me. She said off course, we let you know a month before.

So yes, if you blag, you can get it.....

gt94sss2

adindas wrote: »

Could anyone shed the light where we could get information to qualify for Premier A/C without meeting the above criteria ?

This is getting off topic for this thread but basically you can't get HSBC Premier without meeting the qualification criteria.

HSBC do give all customers a 6 months grace period to meet the qualification criteria as dqnet has found but this is standard and was the case when I opened my Premier account some time ago as well.

If you don't meet the criteria, they will automatically downgrade the account next time they review it.

Many people have HSBC Premier and meet the criteria by holding £50K+ of shares with HSBC Investdirect - as that counts towards the Premier limit.

If you have funds overseas, its also possible to open an account in another country and get Premier there - in which case you automatically get it here. In some countries the qualification limit is closer to £30k.

I had HSBC investment product and invest about £300 a month as a prt of my maxi ISA but finally I stop it after I get to know that every time I invest £300.00 I need to pay £12.50. So £300 investment value for £12.50 monthly .... was is not crazy ???

HSBC Investdirect is not set up for 'regular saving' like some other stockbrokers - hence another stockbroker would be better for you and/or investing larger sums less often.

Regards
Sunil

Careful_ly

From 7.1.11 Principality regular saver 4%
http://www.principality.co.uk/default.aspx?page=1619

This is branch only for opening, which was not the case with their regular savers in the past, except for the special birthday edition.

Special_Saver2

Hi Folks,

Here is this weekend's update.

- Principality BS Birthday Regular Saver removed from the list (today was the last day for new accounts)

- Principality BS Regular Saver Bond issue 10 withdrawn and replaced with issue 11 which, as mentioned above, can only be opened in branches (postal applications not allowed unlike previous issues). The new issue pays the same interest rate as before - 4% fixed for 1 year on up to £500 per month.

The terms and conditions for issue 11 say "Only one Bond per customer." I do not know if this means that you cannot hold an issue 11 account in addition to issue 10 (or previous issues). If you try to open an issue 11 account in addition to previous issues, feel free to post a message on this thread to let us know how you get on and I can add the information to my entry on page 1 of this thread.

There are no other changes that I can find for this week.

I will do another update next weekend.

SS2

gt94sss2

Quick question about the Santander Super Fixed Rate Monthly saver.. (6%)

Has anyone opened one after transferring their current to Santander - but not at the same time as opening the current account? (i.e. a few weeks afterwards) ?

Regards
Sunil

Milarky

https://www.emoneyfacts.co.uk/news/news-search.aspx?newsarticleid=201715

AS it says on the tin - now available for 'non locals' to open. (Only £200 monthly, though )

Link to Saffron site

ses6jwg

gt94sss2 wrote: »

Quick question about the Santander Super Fixed Rate Monthly saver.. (6%)

Has anyone opened one after transferring their current to Santander - but not at the same time as opening the current account? (i.e. a few weeks afterwards) ?

Regards
Sunil

As long as it's done whilst the switching process is still "in progress" i.e. you haven't fully switched yet) there is no issue with this.