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 Premier changes

Options
2

Comments

  • I also got this email, and met their old criteria. Had the account for two years but was starting to question what I was getting that was useful.  

    Perplexingly I meet the Barclays premier eligibility but their systems don’t think I do owing to salary sacrifice. That would be a much more useful account as currently collect Avios with their Avios+ Barclaycard and could get extra through it. 

    I’ll just go back to using my first direct account if/when HSBC make any changes. 
  • Theleak250
    Theleak250 Posts: 200 Forumite
    100 Posts
    I don’t earn enough for Barclays premier, but they suddenly offered me an account for £20 a month. 
  • Swipe
    Swipe Posts: 5,612 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I've had a Premier account for years and moved most of my qualifying money out soon after being upgraded. Can't say I'll really miss it as I never made much use of any of the benefits.
  • romaineahern
    romaineahern Posts: 13 Forumite
    Seventh Anniversary First Post
    I am glad others feel as peeved as I do.  What I dont understand (forgive me if I missed it but life often gets in the way) but I thought financial compensation was £85K should the unthinkable happen.  Also when I tried to claim under the travel insurance when I had to cancel my trip at short notice as my mother suffered heart failure, the claim was refused as they did not feel a critical incident with a mother was a worthwhile reason to cancel a short break!  
  • amanda1024
    amanda1024 Posts: 421 Forumite
    Third Anniversary 100 Posts Name Dropper
    Do any of you know what the £100k/year requirement translates to as a monthly transfer into the account? I qualify under the previous threshold (and they don't seem to have a problem with this coming in as a transfer from one of my other bank accounts) but I'm potentially short of the new one, depending how it's defined. 

    I estimate I'm saving £50-£200 a year on travel insurance (depending where I travel to) - so worth it for a free account, if I can get round the eligibility requirements.

    Also - the email I got in November said 'New Premier health benefits coming early 2025' but I haven't seen mention of these since then - does anybody know any more about this?
  • Hoenir
    Hoenir Posts: 7,742 Forumite
    1,000 Posts First Anniversary Name Dropper
    In the region of £5,700. 

    The bank will be able to distinguish between a transfer and a payroll bacs. 
  • WillPS
    WillPS Posts: 5,128 Forumite
    Part of the Furniture 1,000 Posts Newshound! Name Dropper
    Hoenir said:
    In the region of £5,700. 

    The bank will be able to distinguish between a transfer and a payroll bacs. 
    They won't have any idea how much salary gets sacrificed or taken forcibly (e.g. child support, student loans) tho, unless they ask for payslips.
  • Theleak250
    Theleak250 Posts: 200 Forumite
    100 Posts
    I’m surprised some were upgraded to premier so easily. When I upgraded to advanced they asked for pay slips!
  • Theleak250
    Theleak250 Posts: 200 Forumite
    100 Posts
    edited 18 January at 9:39PM
    HSBC are offering a win of 40k if you invest only for premier customers. 


    I’m starting to get a message from HSBC that they really are not interested in anyone who earns less than 100k. Fair enough I guess. But if they don’t offer anything to those below I am sure lots will take their custom elsewhere. 
  • CazRob
    CazRob Posts: 5 Forumite
    Eighth Anniversary Combo Breaker First Post
    Somewhat annoying as I’ve had Premier for years and HSBC have done extremely well from me! Now newly retired with a pension less than they require so I’ll get kicked off! The only benefit I’ve had is 1 small travel insurance claim of less than £100 so not much of a return anyway is it? 
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.