HSBC £125 switch bonus

Katiehound

ischris85 said:

st999 said:

Do I need the 2 standing orders set up before I start the switch?
I knew my NatWest account that I switched from my TSB account would come in useful.

Yes, either 2x SOs or 2x DDs T&Cs say.

The 1 x SO could be a sum going in, and then 1xSO  out again which ensures you pay in the monthly minimum of £1750?

st999

Katiehound said:

ischris85 said:

st999 said:

Do I need the 2 standing orders set up before I start the switch?
I knew my NatWest account that I switched from my TSB account would come in useful.

Yes, either 2x SOs or 2x DDs T&Cs say.

The 1 x SO could be a sum going in, and then 1xSO  out again which ensures you pay in the monthly minimum of £1750?

But the 1 going in wouldn't be counted as there would be no note of it in the account being switched.

BeachNut

soulsaver said:

ischris85 said:

dggar said:

ischris85 said:

Hi All,
It seems to be the season for bank switch incentives. Details for the switch below
https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/125-switcher-offer-terms-and-conditions.pdf
Please note HSBC current account holders on the date of application and have not been on or after 1 January 2017 are not eligible.

Can I just confirm that I'm Not Missing something.
I have a HSBC Advance account opened July 2015.Still open
I had a M&S account opened May 2015  and closed Aug 2015
I had a First Direct account opened Feb 2014 and closed Aug 2020
The switch offer is not available to me as I already am an account holder.(unlike the Lloyds Club offer)

Correct, unless you open a joint account (if you previously haven't had one).

Do you mean you think while you are a solo account holder you could open a joint and become eligible? 
Is that your opinion or you have that from HSBC authority?

At face value I'd think that would fail against the you're eligible if you "are not an HSBC current account holder on the date of application and have not been on or after 1 January 2017."

So long as the other account holder doesn’t already have an HSBC account, etc...  which means they could either open a sole account or a joint account with you.

Katiehound

st999 said:

Katiehound said:

ischris85 said:

st999 said:

Do I need the 2 standing orders set up before I start the switch?
I knew my NatWest account that I switched from my TSB account would come in useful.

Yes, either 2x SOs or 2x DDs T&Cs say.

The 1 x SO could be a sum going in, and then 1xSO  out again which ensures you pay in the monthly minimum of £1750?

But the 1 going in wouldn't be counted as there would be no note of it in the account being switched.

Oops my brain is in lockdown now! Sorry
The two SOs could be  say: £1,500 going in from another bank or two (yes doesn't count) and then send that money back out to 2 different a/cs.- maybe back where it came from?
 I have a £1k and a £500 circle! (ie TSB needs the £500) pretty much everyone else wants £1k

After that I took advantage of the RS - which then was 5%- £250 going in - then out again by SO =monthly  £1750 pay in. I then keep a 'float'  of £200ish

Hope that is more helpful!!
 

soulsaver

BeachNut said:

soulsaver said:

ischris85 said:

dggar said:

ischris85 said:

Hi All,
It seems to be the season for bank switch incentives. Details for the switch below
https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/125-switcher-offer-terms-and-conditions.pdf
Please note HSBC current account holders on the date of application and have not been on or after 1 January 2017 are not eligible.

Can I just confirm that I'm Not Missing something.
I have a HSBC Advance account opened July 2015.Still open
I had a M&S account opened May 2015  and closed Aug 2015
I had a First Direct account opened Feb 2014 and closed Aug 2020
The switch offer is not available to me as I already am an account holder.(unlike the Lloyds Club offer)

Correct, unless you open a joint account (if you previously haven't had one).

Do you mean you think while you are a solo account holder you could open a joint and become eligible? 
Is that your opinion or you have that from HSBC authority?

At face value I'd think that would fail against the you're eligible if you "are not an HSBC current account holder on the date of application and have not been on or after 1 January 2017."

So long as the other account holder doesn’t already have an HSBC account, etc...  which means they could either open a sole account or a joint account with you.

So that's them eligible, not you.

Helen28

I have a NatWest account that I only used to get the switching bonus and is now doing nothing so I applied for a HSBC account using that as the switching from account and I was accepted by HSBC.

I've set up 2 £1.00 standing orders from the NatWest account and transferred £10 into it.

Should I also transfer £1750 into the NatWest account before the switch goes through and it gets closed or should I wait until my HSBC account is opened and transfer the £1750 into HSBC then straight out again?

NottinghamKnight

You'll need to do it into the new account not the old one.

Helen28

NottinghamKnight said:

You'll need to do it into the new account not the old one.

If I had £1750 in the old account that would be transferred over so would that not count as paying in £1750?

colsten

Helen28 said:

NottinghamKnight said:

You'll need to do it into the new account not the old one.

If I had £1750 in the old account that would be transferred over so would that not count as paying in £1750?

It might get counted, but then it might not be. Why take chances?

ischris85

Helen28 said:

NottinghamKnight said:

You'll need to do it into the new account not the old one.

If I had £1750 in the old account that would be transferred over so would that not count as paying in £1750?

It's best you transfer your  money over to the new account rathter then relying on the switch. There have been claims of money going atray for a while during the switch.