HSBC basic account query

miev

Have couple of current accounts with other banks for usual household bills etc so was looking to open account for own personal spends to keep money separate.  Credit history not the best worked hard to repair last 4 years. Got knocked back for current account but offered basic. I’m not too fussed as don’t require overdraft or cheque book for sole purpose of account however I did see something about not being able to hold other accounts with uk banks under this account? Should I just cancel this application then? I don’t want to lose my other accounts as those are current with small OD facility so obviously look better on credit file and it’s where everything goes in and comes out. I ticked the do not switch option. 

adamp87

Where have you read that? You can have as many as you want/will be accepted for

colsten

 Worst case, HSBC will reject your application. You won't lose your other accounts, and your other banks won't get to know about the rejection.

If HSBC turn you down, you could try Monzo or Starling, who are said to be easy to get even if you don't have a brilliant credit history and who have apps that are streets ahead of the HSBC one.

eskbanker

adamp87 said:

Where have you read that? You can have as many as you want/will be accepted for

See https://www.hsbc.co.uk/current-accounts/products/basic-bank-account/

Who can apply?

You can apply for a Basic Bank Account if you:

• are 16 or older and a UK or EU resident
• can provide ID or proof of address if needed
• are happy for us to do a credit check against your name (if you live in the UK)
• will not continue to hold a bank account with another UK provider

colsten

I wonder how they would enforce/police this. All they could do is not give you an account, or close it if they find [on your credit file] you don't comply. I would give HSBC a wide berth, anyway, and go for Starling/Monzo etc.