New HSBC Advance Switch Offer

GreenScepter

I'm looking through the full T&Cs. It doesn't say if the deposited money needs to be done in one go or if it needs to be left in for a certain amount of time. Can you put money in, take it out, then put it back in like with other banks? And what about the online saver? Could the £50 be taken out? I'd rather not leave it in an account with a pants interest rate compared to the market. The specifics can be confusing with normal switch offers but when you chuck in all these variables it makes it even more confusing. 

kaMelo

HHUK said:

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 ... 

The last switching offer I could find with no mention of First Direct or M&S Bank as a possible exclusion clause was September 2019;
https://www.about.hsbc.co.uk/-/media/uk/en/news-and-media/190916-hsbc-uk-introduces-cash-switching-offers.pdf

The next offer I could find was September 2020 and includes First Direct and M&S Bank as a possible exclusion clause;
https://www.about.hsbc.co.uk/-/media/uk/en/news-and-media/200917-125-switching-offer.pdf

I couldn't find any offers in between those dates although it's possible there was one and I couldn't find it.

Important to remember that simply having had a First Direct account at any point in history may exclude you from receiving a switch bonus from First Direct, but it will not exclude you from an HSBC switching offer as they are usually date limited. The current offer for example is limited to not having had either an HSBC or First Direct account since January 2019

billyboy

I had the same same trouble with my wife. Never accepted. Do you think they have something against wives?

danny13579

PinstripePhantom said:

To my surprise I got the First Direct £175 in April 2023 and then the HSBC £200 in May 2023. 

That's amazing. Has anyone else managed to get a HSBC bonus while holding a First Direct account?

PRAISETHESUN

Past HSBC incentives have allowed you to have an open FD account, as long as it was opened prior to a certain date. This offer is the first I can recall seeing that restricts having a FD account at all. Would be interested to hear if anyone has success with this offer while having an open FD account.

kaMelo

PRAISETHESUN said:

Past HSBC incentives have allowed you to have an open FD account, as long as it was opened prior to a certain date. This offer is the first I can recall seeing that restricts having a FD account at all. Would be interested to hear if anyone has success with this offer while having an open FD account.

It's definitely more restrictive in that it excludes anyone who has held an account with either HSBC or FD since January 2019  Previous offers allowed FD account holders to qualify for the bonus as long as the FD account had been opened prior to a certain date.  

Stargunner

danny13579 said:

PinstripePhantom said:

To my surprise I got the First Direct £175 in April 2023 and then the HSBC £200 in May 2023. 

That's amazing. Has anyone else managed to get a HSBC bonus while holding a First Direct account?

I received a switch bonus from First Direct in January last year and then a switch bonus from HSBC in July last year. My wife also got both bonuses last year First Direct in April and HSBC in December. She is just waiting to receive the £80 from HSBC for using the global money debit card 5 times, which is due to be paid to her before 8th May

quicksilverfox

offer seems to have been pulled? good luck to any who tried