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HSBC Advance Bank Account any fees?
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tracyyi
Posts: 118 Forumite

Does HSBC Advance Bank Account have any fees?
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Information on fees for the account is published by HSBC...
https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/accounts/advance-account-fee-information-document.pdf
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Thank you.
So for maintain this account, there is no account fees.0 -
As long as you keep a positive balance there are no fees, no requirements any no perks anymore.One wonders just what is 'advanced' about it now.0
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Yes, why the name "advanced", I worried it like Llodys Club Current account which required £2000 per month deposited.0
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kaMelo said:As long as you keep a positive balance there are no fees, no requirements any no perks anymore.One wonders just what is 'advanced' about it now.tracyyi said:Yes, why the name "advanced", I worried it like Llodys Club Current account which required £2000 per month deposited.
However, they provide a comparison tool to allow customers to weigh it up against their other offerings, highlighting features such as enhanced overdraft access and some international benefits:
https://www.hsbc.co.uk/current-accounts/compare/advance-account/#?pc-products=bank-account
My recollection is also that they tier their switching incentives to offer a higher figure for Advance, but I could be wrong about that....3 -
I have not paid in the required funds for some time but never been charged a penny.0
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eskbanker said:kaMelo said:As long as you keep a positive balance there are no fees, no requirements any no perks anymore.One wonders just what is 'advanced' about it now.tracyyi said:Yes, why the name "advanced", I worried it like Llodys Club Current account which required £2000 per month deposited.
However, they provide a comparison tool to allow customers to weigh it up against their other offerings, highlighting features such as enhanced overdraft access and some international benefits:
https://www.hsbc.co.uk/current-accounts/compare/advance-account/#?pc-products=bank-account
My recollection is also that they tier their switching incentives to offer a higher figure for Advance, but I could be wrong about that....
I know, and apologise for the play on words. Still my point remains as the difference between a plain old current account and Advance account is now virtually nothing. Back in the day there was preferential interest rates, a higher ATM limit and other perks which, for me at least, was one of the few perks schemes that I actually found useful.
You are correct, they did used to offer a higher switch bonus for the Advance account once upon a time but since they removed the pay in requirement and stopped all the perks that you used to get, the switch bonus for both the Advance and plain old current account have since been the same value.
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kaMelo said:As long as you keep a positive balance there are no fees, no requirements any no perks anymore.One wonders just what is 'advanced' about it now.A technicality but —My understanding is that HSBC allow a fee free overdraft of £25 on their current accounts. So there are no fees if you maintain the account within an overnight overdraft of £25.Similarly First Direct fee free overdraft is £250.0
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