HSBC FR ISA Cashback

GalacticaActual

Slightly off topic, but still related to HSBC.

Alongside the delays with my ISA transfer, I’ve also experienced two other issues.

I have investments via their Global Investment Centre, but the quarterly fees were collected twice in April. I made three separate phone calls to query this, followed by a visit to a branch, although there was a 30‑minute wait to see an adviser. I then made a fourth phone call, during which the adviser suggested raising a complaint. They took some details and I later received an email with a reference number, advising me to expect a follow‑up call. Then, out of the blue on Friday, £50 was paid into my HSBC current account as compensation, followed about ten minutes later by an email explaining the outcome of their investigation. The cause was confirmed to be an IT issue. It was just a week between the complaint being raised and the compensation being paid into my bank account.

Also on Friday morning at around 6:00 am, I received two emails thanking me for adding my credit card to Apple Pay, which I hadn’t done. HSBC have since added a banner to their website confirming this was an error, and they also posted messages on Facebook and X.

I thought it was worth mentioning that HSBC seem to be experiencing a number of IT issues at the moment, as well as dealing with a large backlog of ISA transfers.

snookerloopy96

Apologies for dragging this back up but how long should I wait for HSBC to (at least partly) reply to my complaint?

I read that they have 8 weeks, do I simply wait now or is a little nudge worth a try?

ccluedo

https://forums.moneysavingexpert.com/discussion/comment/82004152#Comment_82004152

I made the formal complaint on 11th May and the acknowledgement with ref number says:

"What happens next?

 We’re looking into your concerns, and will be in touch with a resolution as soon as we can. If our investigations are taking longer than we thought, we will let you know, and will give you an expected resolution date."

The cs agent said I would possibly get a call within 5 working days....I didn't.…but certainly within 2 weeks. I'm not holding my breath tho.

I have spoken to Helen Crane (This is Money) mentioned above, who helpfully has been in touch with HSBC on my behalf. They have told her they will get back to her later this week. Still not holding my breath!

snookerloopy96

https://forums.moneysavingexpert.com/discussion/comment/82004167#Comment_82004167

Right, thankyou.

Yes I was told 5 working days as well.

I'll contact Helen too.

Thanks again.

GalacticaActual

My ISA transfer is finally on the move - the £25,000 left Yorkshire Building Society yesterday (20 May 2026).

Nothing showing in the HSBC Fixed Rate Cash ISA yet, but backlogs and stuff.

snookerloopy96

https://forums.moneysavingexpert.com/discussion/comment/82007043#Comment_82007043

Glad that someone has had some positive news, hopefully it lands asap for you now.

After seeing your post, checked my YBS accounts, nope still there.

Fingers crossed I hear something soon from HSBC or This Is Money.

Its quite a game isn't it.

Money_Stitch

https://forums.moneysavingexpert.com/discussion/comment/82007043#Comment_82007043

Do you mind if I ask when you made the transfer request? Wondering if we could see if they are working chronologically and how that relates to others. I have what should be the easiest of electronic transfers but they haven't even initiated the move or contacted my provider. Forms received in branch on April 16th in my case, no action at all taken as yet.

GalacticaActual

https://forums.moneysavingexpert.com/discussion/comment/82007236#Comment_82007236

Yes, it seems to be quite the random waiting game 😒

GalacticaActual

https://forums.moneysavingexpert.com/discussion/comment/82007566#Comment_82007566

Sure, I opened the account and at the same time completed the electronic transfer form on Sunday 19th April 2026.

GalacticaActual

I just opened the HSBC app and was greeted with the following message. My Fixed Rate ISA is still showing a nil balance mind.