HSBC 3% Bonus Saver Current Account Required?

sheffieldeagle

Hi

Probably a stupid question but I'm assuming yo need to be a HSBC current account holder to service it's bonus saver?

It says you need to hold an HSBC current or savings account.

Cheers

Daliah

The Bonus saver has its own sort code and account number. You can pay directly into  it without going through an HSBC current account BUT you do need an HSBC current account to withdraw money.

Don't forget, you only get the bonus interest rate if you make no withdrawals in the entire month. I.e. best to only withdraw on the 1st of a month, and to withdraw all of it and not touch the account again for the rest of that month.

Too much hassle? Go for a hassle-free 2.81% account instead. 

adindas

Daliah said:

The Bonus saver has its own sort code and account number. You can pay directly into  it without going through an HSBC current account BUT you do need an HSBC current account to withdraw money.

Don't forget, you only get the bonus interest rate if you make no withdrawals in the entire month. I.e. best to only withdraw on the 1st of a month, and to withdraw all of it and not touch the account again for the rest of that month.

Too much hassle? Go for a hassle-free 2.81% account instead. 

And the penalty is severe.
You have instant access to your account. However if you do make a withdrawal, you’ll receive the standard rate of interest (currently 0.50% AER/Gross) for that month.

Millyonare

Yes, the 3% account looks a bit rubbish. Too many hoops to jump thru.

sheffieldeagle

Thanks for the comments. I was struggling to see any posts so I just raised one to gauge people's opinions. With rates still rising sticking with Santander for now.

Swipe

OK for me. I have two of them that I've had for a few years.