New HSBC Advance or Premier current account £200 switch incentive

dealyboy

- Fee free
- switch with 2 DDs edit: or SOs
- pay in £1,500 once
- not had an HSBC current account or edit: opened a First Direct current account since 1st Jan 2000

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

Edit: Updated title ... also applies to HSBC Premier current account ... @MSE_James not mentioned on MSE best accounts page

Johntea

Looks like you can get £40 Quidco cashback too?

Presume I can just set up 2 standing orders of £1 to a couple of my other current accounts on the account I intend to switch, it does have 2 direct debits on it but a bit wary of those as they actually haven't had any activity since November 2022

Bendo

Reading the HSBC website, its actually not opened a First Direct account since Jan 2020. So should hopefully qualify for it if you had one open before then.

Moved my mortgage to HSBC and owe Santander no loyalty so assuming the app isn't rubbish, I might as well move my main account over.

dealyboy

Hi @Bendo ...

Bendo said:

Reading the HSBC website, its actually not opened a First Direct account since Jan 2020. So should hopefully qualify for it if you had one open before then.

Moved my mortgage to HSBC and owe Santander no loyalty so assuming the app isn't rubbish, I might as well move my main account over.

You will not qualify for the offer if:

• you've had an HSBC current account since 1 January 2020
  
• you've opened a first direct current account since 1 January 2020

... edited OP post.

Psyduck1980

I’ve not seen a bank offer an incentive where standing orders can be used to meet the criteria rather than direct debits. Can these just be a nominal amount (e.g. £1) to another current account? 

DisneyPrincess_2

Several weeks ago, I had my name added to my husband's HSBC current account.  If I opened one of these accounts now in my name only, would I get the bonus?  Thanks.

dealyboy

@DisneyPrincess_2 said:

Several weeks ago, I had my name added to my husband's HSBC current account.  If I opened one of these accounts now in my name only, would I get the bonus?  Thanks.

... I suspect not. I have looked at the switch T&Cs and it doesn't explicitly define joint account holders eligibility status, but I think you would be classed as an HSBC current account holder.

Three options here ...
- phone customer service ... I find generally they are there to help the customer rather than 'business first'.
- try anyway ... several people on the forum take a 'nothing ventured nothing gained' approach and have succeeded where T&Cs suggest they are not eligible ... what's to lose?
- give up as it is most likely you don't qualify.

  

DisneyPrincess_2

dealyboy said:

@DisneyPrincess_2 said:

Several weeks ago, I had my name added to my husband's HSBC current account.  If I opened one of these accounts now in my name only, would I get the bonus?  Thanks.

... I suspect not. I have looked at the switch T&Cs and it doesn't explicitly define joint account holders eligibility status, but I think you would be classed as an HSBC current account holder.

Three options here ...
- phone customer service ... I find generally they are there to help the customer rather than 'business first'.
- try anyway ... several people on the forum take a 'nothing ventured nothing gained' approach and have succeeded where T&Cs suggest they are not eligible ... what's to lose?
- give up as it is most likely you don't qualify.

  

Thanks for your help.

FFHillbilly

Johntea said:

Looks like you can get £40 Quidco cashback too?

Presume I can just set up 2 standing orders of £1 to a couple of my other current accounts on the account I intend to switch, it does have 2 direct debits on it but a bit wary of those as they actually haven't had any activity since November 2022

for the time it takes, I'd be inclined to just used onepoundDD.com for 2 new direct debits. if you apply today they will come out on the 2nd May, then as long as the switch is after that you are covered.
HSBC are notorious for being difficult and slow with switch bonuses, for the sake of £2 on £200 I would not take the risk

huw01

Bendo said:

Reading the HSBC website, its actually not opened a First Direct account since Jan 2020. So should hopefully qualify for it if you had one open before then.

Moved my mortgage to HSBC and owe Santander no loyalty so assuming the app isn't rubbish, I might as well move my main account over.

the app isnt the best, I would say it's a step down from the Santander app, personal opinion

pfpf

can/do HSBC give instant decisions on a new account? iv'e got to wait to hear from them. it said i "could" qualify for a high enough OD to satisfy the T&C's of the switch offer but i declined to take an OD at all.