HSBC Advance £125 bonus + £80

prettyandfluffy

rbailss said:

My mam also received hers this morning, transactions all done on 13/11 so a week for hers!

Do you just spend from the global account card, the same way you would a debit card?  Then you should receive the £80.00 in May 24?

Yes, exactly the same as any bank debit card,

mr_seftl

Hi all, I managed to sign up for the initial Advance account before the cut off date but not the Global Money one; I work on a ship and it wouldn't have been possible to use my card in time. Will I still qualify for the offer?

It's not the end of world if I don't, I can use the account for a switch incentive with another bank later or something.

Stargunner

mr_seftl said:

Hi all, I managed to sign up for the initial Advance account before the cut off date but not the Global Money one; I work on a ship and it wouldn't have been possible to use my card in time. Will I still qualify for the offer?

It's not the end of world if I don't, I can use the account for a switch incentive with another bank later or something.

You need to use your card 5 times within 60 days. 

funkin

Just got a text message that said “We're pleased to let you know your £125 HSBC Current Account & Global Money Account incentive has now been paid. You'll find it in your Global Money Account.”

As well as the other requirements I made six (I got carried away!) card payments (not Apple Pay or online) with the last on the 7th November.  I also opened the global money account which is a good job as that’s where the payment went!

dommers

TW1234 said:

For the first time ever. I have had an application rejected, despite a "near perfect" credit score and history.

Perhaps it was because the only honest reason I could give as to why I wished to open an account was "to obtain the benefits as publicised by Martin Lewis"!..

Me too. Am intrigued as to why.

planetf1

I completed my advance transactions on nov 15 so just 7 days ago. Before that I had credited the required amount, but also then taken it out.

 Has anyone else done that but got paid, just having a slight concern but I’m probably impatient.

i did read the rules carefully (which is also why I’ve not spend in global money yet ie until this is paid)

BreakingGlass

planetf1 said:

I completed my advance transactions on nov 15 so just 7 days ago. Before that I had credited the required amount, but also then taken it out.

 Has anyone else done that but got paid, just having a slight concern but I’m probably impatient.

i did read the rules carefully (which is also why I’ve not spend in global money yet ie until this is paid)

Yes I paid in £1500 to the advance account, withdrew most of it, made five transactions and then withdrew all but £1.  I did all this on 9 Nov and received the £125 on the 18th.

konando

I can go one better than bananas...I purchased 5 (separate transactions) giffgaff simcards for £0.01 each on Amazon. I do have a Prime account, so shipping was free...but you aint gonna get better than £125 for 5p and no need to hog the self checkouts! 

Note also did this for the £80 extra bonus (so 10 x 1p transactions across the 2x bonuses). So far I've recieved the £125, expecting the £80 to come through next year as mentioned on the sign up terms 

abz12345

Has anyone received the £125 without getting the text to confirm? I believe I have completed the steps required by 16th November but haven’t received the confirmation text or money yet. I might just be being impatient 😊

BreakingGlass

So today I thought that I would use the frustratingly slow HSBC chat to ask about the taxation status of the HSBC Reward.  I had already searched this site and HSBC's Ts and Cs to no avail.

Here is their initial response to my query, eventually:



And the further response to my second question:



I then went on to ask them to clarify that the Reward was indeed taxable (despite their first answer) and that a higher rate taxpayer should therefore declare it to HMRC in order to be taxed at the correct rate.  I think that this further question blew their minds hence after about another 30 minutes of waiting for a response I gave up!

Unless anyone can advise me otherwise I am going to consider the Reward(s) as Income (not interest) that has already been taxed at source.  Thus it will not erode my PSA or Starting Rate for savings, and I may even be able to claim a tax refund of the £31.25 tax that HSBC have apparently already paid!