HSBC Advance - DD/SO still needed?

wallofbeans

Hi All,
I opened an HSBC Advance account a few months ago. Got the bonus.
But I'm now trying to streamline ins and out of accounts as much as possible. Can I cancel the two standing orders (to myself) I set up for this account? Can I also cancel the £1750 that bounces back and forth between this and another account?
Thanks!

burner01

yes ofcourse

wallofbeans

burner01 said:

yes ofcourse

And this won't affect the account? They wont demand their money back or close the account or anything?
Also, does anyone know why they ask for these things to be set up if they can be cancelled without issue?

qsk

You needed the DDs/SOs for the switch offer. Now that you get bonus, you can cancel those.
You need the £1750 pay-in to maintain the "Advance" status. If you cancel, you will lose "Advance".

vixen1500

qsk said:

You needed the DDs/SOs for the switch offer. Now that you get bonus, you can cancel those.
You need the £1750 pay-in to maintain the "Advance" status. If you cancel, you will lose "Advance".

Was thinking of stopping my monthly £1,750 as now cant see any point in having the Advance status now they have done away with the higher rate monthly saver

soulsaver

Do you need it for the good rate monthly saver?

colsten

soulsaver said:

Do you need it for the good rate monthly saver?

No.

qsk

vixen1500 said:

qsk said:

You needed the DDs/SOs for the switch offer. Now that you get bonus, you can cancel those.
You need the £1750 pay-in to maintain the "Advance" status. If you cancel, you will lose "Advance".

Was thinking of stopping my monthly £1,750 as now cant see any point in having the Advance status now they have done away with the higher rate monthly saver

I got my Advance before I applied for their mortgage because Advance warranted a better deal. But that was just me.