HSBC Switch Criteria - £200

WillPS

orange-juice said:

Have any former HSBC advance customers who’ve received a switching bonus previously, tried switching over recently to test how tight their ‘new customers only’ rule is?

It's not new customers only, it's customers who have not held an account since a certain date - I think it's 1st January 2020.

If you had a previous switching incentive and closed the account before that date, you will be eligible.

It's only First Direct who impose a 'new customers only' rule (although Natwest Group have yet to change their eligibility date from 2017).

GlasgowExpat2

gizz_10 said:

Applied on the 10th Nov, uploaded docs on the 15th - have heard nothing since and no email with any application reference or anything.  Has anyone actually heard back - how long did it take - is there a contact number anywhere we can call to get the status?

I think it depends, I applied and received confirmation within 24 hours. 

janeskips2

Why has MSE added this?

Important. The account you're switching from must be with a different banking group from the one you're switching to (for example, to get HSBC's switch bonus, you must be switching from an account that's not with HSBC or First Direct). See the footnote of the table below for details.

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/#switch

It does not apply to the only HSBC switch deal as per T&Cs. MSE contradict themselves and confirm this in the notes. So why has been added?

jungleboy123

Well, i just tried opening an advance account and declined. Never had opening an account declined before. Credit score is perfect. Maybe they are picky about who can open this? Not sure.

flaneurs_lobster

jungleboy123 said:

Well, i just tried opening an advance account and declined. Never had opening an account declined before. Credit score is perfect. Maybe they are picky about who can open this? Not sure.

I've opened seven current accounts since September with no problems at all but this HSBC one makes me nervous. 

I'm not good with rejection.

jungleboy123

flaneurs_lobster said:

jungleboy123 said:

Well, i just tried opening an advance account and declined. Never had opening an account declined before. Credit score is perfect. Maybe they are picky about who can open this? Not sure.

I've opened seven current accounts since September with no problems at all but this HSBC one makes me nervous. 

I'm not good with rejection.

Never banked with HSBC ever, only doing it for the switch incentive but agree. From looking online and other MSE posts, they seem to be very picky to who they qualify to having a certain account with them. I've put the same details as i have when opening other accounts e.g. salary/income, nationality, DOB etc.

Also to say they declined this one but pushed another account, however that wouldn't have been eligible for the £200 incentive.

What's very odd is i had a first direct account, which is basically their sister bank but that was set up pre Jan 2019 and that was straightforward.

Will go in branch to ask what's going on.

Katiehound

HSBC is.... notorious for rejections.

Best thing to do? Move on!

look for other switch deals until you run out...

jungleboy123

Katiehound said:

HSBC is.... notorious for rejections.

Best thing to do? Move on!

look for other switch deals until you run out...

I wouldn't have bothered with HSBC. I missed out on the Nationwide switch by 1 day. They told me there wasn't an end date for the incentive so i started to get stuff together and as soon as i sat down the offer ended  :'( Hope that one comes back soon!

flaneurs_lobster

jungleboy123 said:

What's very odd is i had a first direct account, which is basically their sister bank but that was set up pre Jan 2019 and that was straightforward.

I had a first direct account for a month in October, bonus for switching in and out, so I'm not eligible for the bonus under their T&C in any case. 

But still....I'm on a 4/0 winning streak, be nice to score another £200 by Y/end.

Rudyson

jungleboy123 said:

flaneurs_lobster said:

jungleboy123 said:

Well, i just tried opening an advance account and declined. Never had opening an account declined before. Credit score is perfect. Maybe they are picky about who can open this? Not sure.

I've opened seven current accounts since September with no problems at all but this HSBC one makes me nervous. 

I'm not good with rejection.

Never banked with HSBC ever, only doing it for the switch incentive but agree. From looking online and other MSE posts, they seem to be very picky to who they qualify to having a certain account with them. I've put the same details as i have when opening other accounts e.g. salary/income, nationality, DOB etc.

Also to say they declined this one but pushed another account, however that wouldn't have been eligible for the £200 incentive.

What's very odd is i had a first direct account, which is basically their sister bank but that was set up pre Jan 2019 and that was straightforward.

Will go in branch to ask what's going on.

Accept the offer of the other account and use it to switch somewhere else for a bonus.