HSBC Advanced account

RebeccaHT10

My husband and I both have the hsbc advance debit account and have had this for at least 8+ years, I was told to open this account as my standard hsbc account was being hacked and this new account would prevent that. Since the account was opened we are both charged a monthly fee, are they still allowed to charge us this fee for the account?

Fighter1986

You were told to open a new account because your old one was being hacked? By who? Someone claiming to be HSBC?

You've either been mis-sold or it wasn't HSBC who told you to do this.

If it happened eight years or longer ago, there is a distinct possibility you weren't given the full details about the account before being told to open it.

However, the flip side of this argument is that you've had eight years to query with the bank whether you should have a fee-charging account and change the account to a free one if you wish. There's got to be some personal accountability for your inaction. 

The truth probably lies somewhere in the middle of the above extremes. 

wmb194

RebeccaHT10 said:

My husband and I both have the hsbc advance debit account and have had this for at least 8+ years, I was told to open this account as my standard hsbc account was being hacked and this new account would prevent that. Since the account was opened we are both charged a monthly fee, are they still allowed to charge us this fee for the account?

The HSBC Advance account doesn't charge a monthly fee. "Get it all for no monthly fee... Unlike with some current accounts, there’s no monthly fee to pay for your Advance Account." Are you sure you have an Advance account? The features of an Advance account won't specifically protect you from being, "hacked."
https://www.hsbc.co.uk/current-accounts/products/advance/

London7766551

You were told total rubbish, there is no difference between the accounts in terms of fraud protection. 

What colour is your debit card? easy way to tell which account you have!

Vortigern

What exactly is the description shown against the monthly fee on your statements?

gt94sss2

HSBC Advance used to have a monthly fee which included travel insurance, breakdown cover and phone insurance when it originally launched.
HSBC stopped selling it years ago when they released the free version of Advance and gave the legacy customers the choice of keep paying and get the benefits or switch to the free version. 
I think many kept paying as they considered it good vfm for what you got
I believe it's the one at https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/accounts/advance-and-insurance-fee-information-document-14-mar-2020.pdf

eskbanker

The removal of the monthly fee was in 2014 - as they would have contacted all customers at that stage offering them an optional bolt-on to what became a free account, it's unlikely that anyone continuing to pay a monthly charge thereafter could succeed with a misselling claim once beyond the three-year period within which such claims have to be brought (once customers were made aware).

https://forums.moneysavingexpert.com/discussion/5050752/hsbc-advance-changes/p1