New HSBC Advance Switch Offer

billyboy

I have had an HSBC account since 2019 and received bonus. They would not open an account for my wife. New plan---Open joint account with wife (if they accept us)  any thoughts whether bonus will be paid to wife?

steven141

I’ve never ever been with HSBC well not directly but I’ve had First Direct so I’m not eligible. If the banking app is anything similar to first directs, then it isn’t worthwhile. 

Lightning360

steven141 said:

I’ve never ever been with HSBC well not directly but I’ve had First Direct so I’m not eligible. If the banking app is anything similar to first directs, then it isn’t worthwhile. 

It is meant to be quite a bit better

FreeFallerSaver

I know it's only been a day, but the lack of any real discussion about the HSBC offer in this thread I think speaks volumes about how popular it might be with people. And I'm not surprised.

quicksilverfox

any veteran switchers know how strict they are when checking for previously held FD accounts?
I did the FD switch recently instead of the advance/global money account since £175 was a quicker payout.

hoping they are like the natwest group 

kaMelo

quicksilverfox said:

any veteran switchers know how strict they are when checking for previously held FD accounts?
I did the FD switch recently instead of the advance/global money account since £175 was a quicker payout.

hoping they are like the natwest group 

I don't know how integrated HSBC and First Direct systems are but certainly First Direct have long memories.   Given the 'previously held a FD account' exclusion clause is a recent addition to HSBC's switch conditions one can only assume they will know, it may work but I wouldn't count on it.
More importantly, the list of qualifications for the switch offer is a long one, probably the longest I've ever seen, certainly the £10 a month requirements are onerous with 20 debit card transactions a month  I don't know whether I'd bother with this one even if I did qualify.. 

HHUK

kaMelo said:

Given the 'previously held a FD account' exclusion clause is a recent addition to HSBC's switch conditions ...

Can you recall how recent? I ask because I did have a First Direct account back in the mid 1990's (opened IIRC to get a free £10 credit!) I was working in the Midlands at that time and registered a different home address, which I can't remember whether I changed when I moved back down South.

In any event, it didn't prevent me from getting the HSBC switch incentive in January 2023.

As for this current offer, I agree it seems like too much hassle unless someone wants it as their long term main current account. It's almost as though HSBC don't want people switching just for the incentive ... 

PRAISETHESUN

billyboy said:

I have had an HSBC account since 2019 and received bonus. They would not open an account for my wife. New plan---Open joint account with wife (if they accept us)  any thoughts whether bonus will be paid to wife?

My money would be no - as you would be named on the account, and by your admission would not be eligible for the incentive.

quicksilverfox said:

any veteran switchers know how strict they are when checking for previously held FD accounts?
I did the FD switch recently instead of the advance/global money account since £175 was a quicker payout.

hoping they are like the natwest group 

Oddly enough, not really seen any discussion about this going either way. It's usually in the context of FD knowing if you've had a FD incentive before, not a HSBC one.

Lightning360 said:

It's clearly a way to get people to stay with them when switching so they can try to avoid people just using the offer for an easy bit of money

If anything, it actually encourages you to close/switch away sooner as then you'll qualify for the next incentive a bit quicker

CuriousGirl

quicksilverfox said:

any veteran switchers know how strict they are when checking for previously held FD accounts?
I did the FD switch recently instead of the advance/global money account since £175 was a quicker payout.

hoping they are like the natwest group 

I opened a FD account in 2009. Since that time  I have received the switching bonuses from HSBC twice - in 2018 and in 2022 despite their T&C said I wouldn't be eligible.  The HSBC account opened in 2018 was closed in 2019 after receiving the second part of the bonus. In 2022 I opened a brand new HSBC account and switched one of my dummy account into it.

PinstripePhantom

quicksilverfox said:

any veteran switchers know how strict they are when checking for previously held FD accounts?
I did the FD switch recently instead of the advance/global money account since £175 was a quicker payout.

hoping they are like the natwest group 

Everyone says they have long memories but in my experience, they don't.

Opened my first First Direct account around December 2018 for the switch bonus (a wireless speaker at the time) and got it. Then opened my first HSBC account for the £75 switch bonus around February 2019 and got it, can't remember if I still had the First Direct account open at the time or if I had switched it away somewhere else as soon as I'd got that bonus.

I'd avoided trying to get another bonus from either because of their strict eligibility criteria about not having held an account before or not having had a bonus from one or the other etc. until last year when I'd got a bonus from another bank that I technically wasn't eligible for so I thought I'd test HSBC/First Directs memories, nothing to lose in trying. I'd long since closed my original accounts I'd had with them. I also used a different email address and mobile phone number to what I'd used on those original accounts, don't know if this helps or not.

To my surprise I got the First Direct £175 in April 2023 and then the HSBC £200 in May 2023. I also opened a HSBC credit hard at the same time of my HSBC application and that's still open now so suspect if I tried now or in future with it still open they'd find it easier to find me on their records.

My wife has never been eligible to even open  the accounts required for HSBC switching bonus incentives but she has also had 2 switching bonuses from First Direct, £100 around February 2021 and £175 in April 2023. She also used a different email address and phone number but also may have used a different surname since the First account (can't remember when she'd officially changed her name since getting married).