We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

HSBC Advance Bank Account any fees?

Options
Does HSBC Advance Bank Account have any fees?
«1

Comments

  • Emmia
    Emmia Posts: 5,630 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
  • tracyyi
    tracyyi Posts: 118 Forumite
    10 Posts Name Dropper First Anniversary
    Thank you.
    So for maintain this account, there is no account fees.
  • kaMelo
    kaMelo Posts: 2,856 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    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
    tracyyi Posts: 118 Forumite
    10 Posts Name Dropper First Anniversary
    Yes, why the name "advanced", I worried it like Llodys Club Current account which required £2000 per month deposited.
  • eskbanker
    eskbanker Posts: 37,073 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    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.
    The account name is Advance, they're not claiming it's advanced!

    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....
  • Lions_89
    Lions_89 Posts: 151 Forumite
    100 Posts
    I have not paid in the required funds for some time but never been charged a penny.
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Lions_89 said:
    I have not paid in the required funds for some time but never been charged a penny.
    What 'required funds'?

  • Lions_89
    Lions_89 Posts: 151 Forumite
    100 Posts
    grumbler said:
    Lions_89 said:
    I have not paid in the required funds for some time but never been charged a penny.
    What 'required funds'?

    You used to have to pay in £1750 a month until a year and a bit ago. But prior to this it was not enforced either.
  • kaMelo
    kaMelo Posts: 2,856 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    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.
    The account name is Advance, they're not claiming it's advanced!

    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.


  • Descrabled
    Descrabled Posts: 509 Forumite
    Part of the Furniture 100 Posts Photogenic Name Dropper
    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.

Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.