£175 MSE HSBC switch incentive

BarGin

Is anyone else still waiting for their incentive payment? My switch with several direct debits completed on 9th May. I'd paid in the required £1,500 before then. Several days after I applied, I told a friend about the deal and he received his £175 two weeks ago!

I have messaged HSBC through the app and they confirm I've met all the criteria and my payment should arrive soon.

maturelearner

Though it was £1,600 required with transfer direct debits via switching service but perhaps you are on about a different offer. I am still waiting on HSBC to process my application just had a text to say it has been delayed no other contact 

PRAISETHESUN

BarGin said:

Is anyone else still waiting for their incentive payment? My switch with several direct debits completed on 9th May. I'd paid in the required £1,500 before then. Several days after I applied, I told a friend about the deal and he received his £175 two weeks ago!

I have messaged HSBC through the app and they confirm I've met all the criteria and my payment should arrive soon.

I had something similar happen years back when I first switched to HSBC. Had to log a formal complaint but eventually they agreed that I had met the terms and the incentive payment was received about a month later. Keep an eye on things and consider logging a complaint if they drag their feet on paying your incentive.

maturelearner said:

Though it was £1,600 required with transfer direct debits via switching service but perhaps you are on about a different offer. I am still waiting on HSBC to process my application just had a text to say it has been delayed no other contact 

Every offer is different and I'd recommend referring to the terms of the specific offer you've taken advantage of. That said, I don't recall any HSBC with the specific terms you've mentioned - it's usually either £1500 or £1750 and the option to switch two direct debits OR standing orders. Either way HSBC are notorious for being slow to open new accounts even under normal circumstances, so don't be too surprised if things take a while. As with the poster above, it might be worth getting in touch if you've had no correspondence from them.

BarGin

Payment was promised within 30 days, that was 2 days ago. I've spoken to them and they have said they'll pay it manually which will take 3 working days from yesterday. I'm still waiting.

BarGin

Payment now received.

HumberFlyer

I'm just going through the process. It says pay in £1500, no prob'. At least 2 direct debits, no prob.... but then during the process it says "you must qualify for a £1000 overdraft". I selected that I want nil overdraft, as I will never go overdrawn........ I'm wondering now if I qualify for the £170 cashback.

BarGin

HumberFlyer said:

I'm just going through the process. It says pay in £1500, no prob'. At least 2 direct debits, no prob.... but then during the process it says "you must qualify for a £1000 overdraft". I selected that I want nil overdraft, as I will never go overdrawn........ I'm wondering now if I qualify for the £170 cashback.

As long as you qualify for an overdraft you'll get the switch reward. You can say no to it. That's exactly what I did.

HumberFlyer

BarGin said:

HumberFlyer said:

I'm just going through the process. It says pay in £1500, no prob'. At least 2 direct debits, no prob.... but then during the process it says "you must qualify for a £1000 overdraft". I selected that I want nil overdraft, as I will never go overdrawn........ I'm wondering now if I qualify for the £170 cashback.

As long as you qualify for an overdraft you'll get the switch reward. You can say no to it. That's exactly what I did.

Ok ... thanks. No reason why I wouldn't qualify. i will assume they check to see if I would qualify even though I selected no to one.

HumberFlyer

HumberFlyer said:

BarGin said:

HumberFlyer said:

I'm just going through the process. It says pay in £1500, no prob'. At least 2 direct debits, no prob.... but then during the process it says "you must qualify for a £1000 overdraft". I selected that I want nil overdraft, as I will never go overdrawn........ I'm wondering now if I qualify for the £170 cashback.

As long as you qualify for an overdraft you'll get the switch reward. You can say no to it. That's exactly what I did.

Ok ... thanks. No reason why I wouldn't qualify. i will assume they check to see if I would qualify even though I selected no to one.

Seems they have an eligibility checker.... Looks like a fail. That's probably due to only £14000 anual income.

alternate

BarGin said:

Payment was promised within 30 days, that was 2 days ago. I've spoken to them and they have said they'll pay it manually which will take 3 working days from yesterday. I'm still waiting.

hi, did you get anywhere through the app?

I contacted chat and they said you had to go trough their account switching team on 03455873430 - but they never seem to pick up the call, constant hold.

thanks

BarGin

alternate said:

BarGin said:

Payment was promised within 30 days, that was 2 days ago. I've spoken to them and they have said they'll pay it manually which will take 3 working days from yesterday. I'm still waiting.

hi, did you get anywhere through the app?

I contacted chat and they said you had to go trough their account switching team on 03455873430 - but they never seem to pick up the call, constant hold.

thanks

No I had to speak to them to get it sorted.