HSBC Advance switch

desthemoaner

 Morning all.

Anyone either had experience of, or currently going through the HSBC Advance account switch via MSE's link?

My brother and I applied on the same day ( both joint accounts with our spouses, both switching from Santander). 
 
I've had texts, a barrage of emails and our cards arrived on Monday. No telephone pass code or PIN numbers yet so I can't access online banking. My brother, however, has had one text, no emails, no cards.

Presumably they're snowed under by folks wanting a free £150 in January, but the inconsistency is a bit concerning. 

LondonSouth556

HSBC always take ages, even when I opened an account a few years ago before COVID, I think it took two weeks before I had anything from them. I thought they had just forgot about me, but they were opening the account or at least sending a letter about it. But that took two weeks!

The fact that you have the card means pretty much the account is open subject to final checks. I'd wait another week and then give them a call.

desthemoaner

LondonSouth556 said:

HSBC always take ages, even when I opened an account a few years ago before COVID, I think it took two weeks before I had anything from them. I thought they had just forgot about me, but they were opening the account or at least sending a letter about it. But that took two weeks!

The fact that you have the card means pretty much the account is open subject to final checks. I'd wait another week and then give them a call.

Thanks for the reply.

I did note that their customer service satisfaction levels weren't the best, but decided that a free £150 made the risk worthwhile. I called them for an update yesterday ( took me 15 minutes to get through), but it transpires that if you don't have your telephone passcode their customer service staff can't give you any specific info about your account. 

 Hopefully that passcode will arrive before next Thursday when the switch is due to complete. 

northwalesd

LondonSouth556 said:

The fact that you have the card means pretty much the account is open subject to final checks. I'd wait another week and then give them a call.

I thought that last year, sadly I never got access to my account (other than by using the card at a cashpoint). In the end HSBC themselves raised a complaint on my behalf (I.e. I didn't ask them to raise a complaint) for the shoddy service, and they paid me a further £125 'go away' money. I'd already started switching out the account by that point.

32Bitter

I have opened an HSBC Advance account today.  Just got to wait for everything in the post. 

When selecting if to switch an account I chose 'no'.  On previous banking incentives you can choose to switch an account at a later date.  I hope this is the same with HSBC?

desthemoaner

32Bitter said:

I have opened an HSBC Advance account today.  Just got to wait for everything in the post. 

When selecting if to switch an account I chose 'no'.  On previous banking incentives you can choose to switch an account at a later date.  I hope this is the same with HSBC?

Personally I didn't notice an option not to switch the account right away, and my primary reason for switching was to get the 150 quid asap. 

32Bitter

desthemoaner said:

32Bitter said:

I have opened an HSBC Advance account today.  Just got to wait for everything in the post. 

When selecting if to switch an account I chose 'no'.  On previous banking incentives you can choose to switch an account at a later date.  I hope this is the same with HSBC?

Personally I didn't notice an option not to switch the account right away, and my primary reason for switching was to get the 150 quid asap. 

I only created a metro bank account yesterday so still need to wait for my card etc... My only reason for opening this HSBC account is the £150 too! 

desthemoaner

 I've had another email today, telling me that I can set up the app and online banking using my telephone passcode, and start using the account. No passcode has thus far been received.

All seems a little bit disjointed, although I guess the passcode letter might have been delayed due to seasonal pressure on the postal service. 

desthemoaner

Perhaps one of our MSE experts, or someone who has already gone through this switch can answer this one for me, please.

This morning we received a letter from HSBC asking us to sign and return a joint account mandate. In the attached blurb it mentions the requirement to pay £1750 into the account each month, which I believe was the condition which applied until the new switch became available via the MSE link. I don't want to sign anything until I know for sure that I'll be getting the new switch which only requires payment of £1500 into the account within 60 days in order to qualify for the cashback.

Can someone who is in the know please confirm that its OK to sign this in order to qualify for the new MSE/HSBC switch, because we won't be able to make regular payments of £1750 pm into the account.  Its probably generic documentation which simply hasn't been amended to take account of the new switch, but I don't want to commit till I know for sure. 

Ta very much. 

kaMelo

desthemoaner said:

Perhaps one of our MSE experts, or someone who has already gone through this switch can answer this one for me, please.

This morning we received a letter from HSBC asking us to sign and return a joint account mandate. In the attached blurb it mentions the requirement to pay £1750 into the account each month, which I believe was the condition which applied until the new switch became available via the MSE link. I don't want to sign anything until I know for sure that I'll be getting the new switch which only requires payment of £1500 into the account within 60 days in order to qualify for the cashback.

Can someone who is in the know please confirm that its OK to sign this in order to qualify for the new MSE/HSBC switch, because we won't be able to make regular payments of £1750 pm into the account.  Its probably generic documentation which simply hasn't been amended to take account of the new switch, but I don't want to commit till I know for sure. 

Ta very much. 

That requirement was dropped last month, it's strange to still be included within the paperwork sent to you. I can only assume it's old stock and they didn't want to waste it/couldn't be bothered reading it/assume customers don't read it etc. (delete as appropriate)

Here is a link to the modified terms as of Nov 2021, specifically on page 3.

For an HSBC Advance Bank Account, we’re removing the requirements to pay either:
 • £1,750 or more into your account each month; or
 • at least £10,500 every six months.


https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/notice-of-variation-terms-and-conditions-and-charges.pdf

desthemoaner

kaMelo said:

desthemoaner said:

Perhaps one of our MSE experts, or someone who has already gone through this switch can answer this one for me, please.

This morning we received a letter from HSBC asking us to sign and return a joint account mandate. In the attached blurb it mentions the requirement to pay £1750 into the account each month, which I believe was the condition which applied until the new switch became available via the MSE link. I don't want to sign anything until I know for sure that I'll be getting the new switch which only requires payment of £1500 into the account within 60 days in order to qualify for the cashback.

Can someone who is in the know please confirm that its OK to sign this in order to qualify for the new MSE/HSBC switch, because we won't be able to make regular payments of £1750 pm into the account.  Its probably generic documentation which simply hasn't been amended to take account of the new switch, but I don't want to commit till I know for sure. 

Ta very much. 

That requirement was dropped last month, it's strange to still be included within the paperwork sent to you. I can only assume it's old stock and they didn't want to waste it/couldn't be bothered reading it/assume customers don't read it etc. (delete as appropriate)

Here is a link to the modified terms as of Nov 2021, specifically on page 3.

For an HSBC Advance Bank Account, we’re removing the requirements to pay either:
 • £1,750 or more into your account each month; or
 • at least £10,500 every six months.


https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/notice-of-variation-terms-and-conditions-and-charges.pdf

Thank you, that's very helpful.

I suppose another reason why they haven't amended the mandate letter might be that that the MSE/HSBC switch is time limited, and the old conditions will shortly be reinstated.

However, your link has reassured me and I'll return the signed mandate on Monday.