HSBC Advance Switch Is Back £125

adamp87

From today, HSBC are offering £125 for switching your current account to a HSBC Advance Bank Account, payable within 20 days of the switch completion date. 

The same offer will also be on the Premier bank account. 

This is open to new current account customers within HSBC. 

Please note if you have a first direct or M&S current account since 1st Jan 2018 you are not eligible (part of HSBC group). 

You will need to pay in a minimum of £1750 per month and transfer across (edit) 2+ Direct Debits or Standing Orders within 30 days of using the Current Account Switch Service. 

https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/accounts/hsbc-rfb2330-mcp55530-web.pdf

Shakin_Steve

I'd need a lot more than £125 to go anywhere near HSBC.

ReaderJ

Thanks Adam - are Standing Orders definitely eligible too? So if I were to simply set up two monthly transfers to a savings account, would this match their requirements?

jay1804

Haven't they had £175 before?

YorkshireBoy

adamp87 said:

You will need to pay in a minimum of £1750 per month and setup 2+ Direct Debits or Standing Orders within 30 days of using the Current Account Switch Service. 

https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/accounts/hsbc-rfb2330-mcp55530-web.pdf

According to the link you've provided, condition 2(d) seems to say the DDs or SOs need to be switched, not simply "set up" in order to qualify.

northwalesd

YorkshireBoy said:

adamp87 said:

You will need to pay in a minimum of £1750 per month and setup 2+ Direct Debits or Standing Orders within 30 days of using the Current Account Switch Service. 

https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/accounts/hsbc-rfb2330-mcp55530-web.pdf

According to the link you've provided, condition 2(d) seems to say the DDs or SOs need to be switched, not simply "set up" in order to qualify.

Yes, the 'within 30 days' relates to the start of the switch.

Underpressure2021

Don’t bother there crooks !! they’re trying to steal my £25,000 

be warned people , there crooks 

colsten

Underpressure2021 said:

Don’t bother there crooks !! they’re trying to steal my £25,000 

be warned people , there crooks 

According to your own post from earlier today, you will be receiving a cheque with your balance. Thus they are not trying to steal anything off you - but they have decided that they no longer wish to have you as a customer. Nobody here knows the reasons for HSBC's decision, and nobody here can help you to reverse their decision.



FWIW, I - along with several million other people - have had a current account with HSBC for years. HSBC is just one of the banks I have current accounts with, and whilst they are not my preferred current account provider, it's perfectly ok to go after their switching offer if you are eligible.

Alex9384

I think I'll wait for a higher offer from them... They've had £175 and even £200 offers before

Alex9384

Btw, I'm still not sure if I'm eligible for Advance account. I earn less than that amount per month but I can easily pay in £1750 each month from my other current account.
When I'm opening a new HSBC account and get asked about my income, I put less them £1750 monthly, will I get approved? Someone from HSBC once told me that I will be eligible as long as I can pay in £1750 per month. But will I be asked in the application process "can you pay in at least £1750 per month" or only asked about my salary? Anyone with HSBC Advance account who remembers the application process?

colsten

Alex9384 said:

Btw, I'm still not sure if I'm eligible for Advance account. I earn less than that amount per month but I can easily pay in £1750 each month from my other current account.
When I'm opening a new HSBC account and get asked about my income, I put less them £1750 monthly, will I get approved? Someone from HSBC once told me that I will be eligible as long as I can pay in £1750 per month. But will I be asked in the application process "can you pay in at least £1750 per month" or only asked about my salary? Anyone with HSBC Advance account who remembers the application process?

The only way to find out whether they will accept you is to apply. The worst that can happen is that they reject your application. Don't fret about the credit search, as the occasional search won't matter.

It appears that you might meet the published requirements, but those won't be the only criteria they will use when assessing your application, and none of us know whether HSBC think you qualify for a £1,000 overdraft.