HSBC Regular saver additional payments

sirarthur

Hello,
I have had a few HSBC regular savers and always set them up to have a £50 standing order per month and added up to £200 if I had it each month by transferring from my advance current account via the app. My partner has the same setup but is unable to add extra funds as it freezes the app when attempted. Having had a long helpline chat with HSBC I am no clearer why this is happening. I wondered if the t and cs have changed recently as hers is a newer regular saver?
Thanks

surreysaver

The T&Cs of the Regular Saver only allow one payment per month. Although you can change how much you pay, you cannot change the date or add additional money
Edit: apparently you can add additional money from previous months if you haven't used up the monthly quota 
 https://www.hsbc.co.uk/savings/products/regular-saver/

sirarthur

Thanks for this. It seems I have an anomaly on my own account as I have always been able to add funds via 'move money' on the app whenever I choose up to the maximum monthly amount. I just spoke to a HSBC help agent and he was very confused when he looked at the account and saw the payments. Weird.

ischris85

surreysaver said:

The T&Cs of the Regular Saver only allow one payment per month. Although you can change how much you pay, you cannot change the date or add additional money
Edit: apparently you can add additional money from previous months if you haven't used up the monthly quota 
 https://www.hsbc.co.uk/savings/products/regular-saver/

Looking at previous threads on this subject, I believe you can call HSBC and request a change of SO date.

cjjhbn

I do the same as the op .but my standing order is for£25 and i transfer in the £225 everymonth never had a problem with it 

sirarthur

I'm glad it's not just me going mad. HSBC have said they'll look into it and get back to me.

ischris85

After the first payment into the account, you must make 11 more payments on the same date each
month by standing order from a qualifying current account.
Each payment must be between £25 and £250.
You can only make one payment each month. But if the payment is less than £250, you can
pay in more in later months. That’s only as long as the total amount paid in doesn’t go over the

Maximum Monthly Savings for that month. We show the maximums in the table below.

https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/personal-banking-terms-conditions-14-mar-2020.pdf

sirarthur

Reading the terms and conditions it seems to say that if you have paid less than the 250 in a given month you can add the difference in later months. I have always done it within the same month and always via 'move money' within the app as has the other respondent here. This only came up because my partner has the same accounts and cannot add extra money (within the monthly limit) without changing the standing order amount and only having it paid in on the next standing order date, when I queried this HSBC seemed puzzled that I had ever been able to do this. Very odd