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Bank bribes
Powapa
Posts: 90 Forumite
Good evening, this is my first post but I’ve been an avid reader!
I recently switched from Halifax to HSBC to gain the £125 bonus and the 3% savings account they offer. Once HSBC had paid me the £125 I started a switch to NatWest for the next £125 thinking I’d be able to keep my savings account with HSBC for the 3% interest. NatWest has just completed my switch but HSBC has closed both accounts, this never happened with Halifax?
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Comments
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Certainly the HSBC RS is dependent on having an account with them- not sure about their other savings accounts. That's why some folk keep the switched account- for the extra goodies that might be available for a year or two.
Being polite and pleasant doesn't cost anything!
-Stash bust:in 2022:337
Stash bust :2023. 120duvets, 24bags,43dogcoats, 2scrunchies, 10mitts, 6 bootees, 8spec cases, 2 A6notebooks, 59cards, 6 lav bags,36 angels,9 bones,1 blanket, 1 lined bag,3 owls, 88 pyramids = total 420total spend £5.Total for 'Dogs for Good' £546.82
2024:Sewn:59Doggy ds,52pyramids,18 bags,6spec cases,6lav.bags.
Knits:6covers,4hats,10mitts,2 bootees.
Crotchet:61angels, 229cards=453 £158.55profit!!!
2025 3dduvets1 -
The HSBC Regular Saver pays 2.75% AER (3% is the Natwest one). The T&Cs of the HSBC RS make it clear that if you close the pre-requisite current account, they will close the RS. See https://forums.moneysavingexpert.com/discussion/comment/77743488/#Comment_77743488liammjenkinss said:Good evening, this is my first post but I’ve been an avid reader!I recently switched from Halifax to HSBC to gain the £125 bonus and the 3% savings account they offer. Once HSBC had paid me the £125 I started a switch to NatWest for the next £125 thinking I’d be able to keep my savings account with HSBC for the 3% interest. NatWest has just completed my switch but HSBC has closed both accounts, this never happened with Halifax?1 -
The good thing is that the bribe of £125 is nearly 3 times what you would have earned for 12 months with the Regular saver.1
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Wow very quick responses, thanks everyone for explaining that I obviously missed it!!1
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Sorry 1 more question, is it possible to just open a current account with HSBC then open the regular savings account at 2.75% while keeping another current account with NatWest? Just trying to make the most out of savings currently.0
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Sure, as long as they accept your application. You just need a normal bank account, not the Advance one.
It's generally a good idea to have more than one current account at completely different banks.1
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