HSBC cashback offer

Rich2808

Has anyone had their transfer into HSBC complete yet? It is a transfer in from another big high street name.

It just seems to move at a glacial place compared with some other smaller providers when the big boys are involved in my experience - when Paragon and other providers seem to complete these in 48 hours?

bioboybill

I have just been on to HSBC for the 7th time (4 times to an agent on livechat, and this the third time on the phone). After 40 minutes I was no further forward other than raising a formal complaint. I opened my Cash ISA on 18th March and requested a transfer in from T212.

I filled in the transfer from they sent me on 25th, and they confirmed receipt when I contacted them on 30th. On 1st April T212 confirmed they had completed transfer to HSBC just 20 minutes after I gave permission on the app.

I waited a few days and then started asking them where my money is, but they just keep saying they have 15 working days. I pointed out that 15 working days is the whole process, and that once they have the money it should be in my account within 3 business days. On the phone they pretend to escalate it and ask you to wait 2 more days and phone back. They last said that on 8th April. I phoned today and got the same story. They just read from a script to placate you.

Last week they texted me to say if I don't put £500 in or initiate a transfer they will close my account on the 17th! When I tell them this on the phone they say that can't be right!!

The woman on the phone promised to call me back within 30 minutes with a complaint reference number within 30 minutes. It's been over an hour and nothing.

Rich2808

https://forums.moneysavingexpert.com/discussion/comment/81963670#Comment_81963670

You are getting me a bit worried now.

I applied for my HSBC fixed rate isa in late March. Got a general email confirmation on 4 April - with links to general documents - and the account appears with a zero balance in my online banking.

Have a notification - via their app - from my current provider (another big high street bank) that they received the request from HSBC on 10 April. But the funds have still not left my ISA with my current provider.

Requested a transfer to Paragon from the same provider on Monday - and the funds have left my current ISA this morning in less than 48 hours.

It clearly isn't my current provider that are a problem - as they did a transfer when requested to Paragon within one business day.

But its been two weeks now since I requested by transfer to HSBC - and my money hasn't even left my old providers account yet. Surely HSBC are doing this all electronically?

And as you say if the funds have left your old provider days ago as in your case - they should appear in your HSBC savings account next day? So what have HSBC done with your cash here - where has it been sitting for the last two weeks? And will you get interest for those two weeks since Trading 212 sent your cash over.

A little concerning!

Has anyone else had more luck - I am sure we are not the only two people using this offer given the cashback and the top paying 4.5% rate.

Diaz09

Worth checking your HSBC online banking under the offers section - sometimes they show tracked offers there with a tick or confirmation once you've met the criteria. If there's nothing showing after a week or so, I'd give them a quick call to confirm the ISA opening has been logged against the cashback promotion. Moving money out and back in beforehand shouldn't affect eligibility as long as you met the terms when you actually opened the ISA.

mon3ysav3r

https://forums.moneysavingexpert.com/discussion/comment/81963817#Comment_81963817

My timeline is about 2 weeks :

30/3/26 - Requested online a HSBC 1 year fixed ISA at 4.50% and gave them transfer details of my existing Cash ISA

1/4/26 - Received generic email from HSBC saying “Thanks for joining us. Below you’ll find links to important documents for your new account.”

Letter in post dated 1/4/26 from my existing Cash ISA saying they have received transfer request

10/4/26 My HSBC Cash ISA was funded from my previous ISA, I received no email or secure message to tell me this

13/4/26 I noticed online that HSBC Cash ISA had received funds, later that evening I got a text message from HSBC saying "Your ISA Transfer is complete …."

Washakie

I opened one of these ISAs last week and partially funded it with money in my HSBC current account and planned to top it up to £20,000 with funds from elsewhere. I now read that I wont get the £150 cashback due to some of the money coming from my HSBC current account. I realise I should have read the separate terms and conditions document for the cashback offer but still a bit !!!!!! off with HSBC over this.

bioboybill

HSBC phoned me back with a complaint reference after about 2 hours (and copy by email). It says they aim to reply in 5 working days, but could take up to 8 weeks! Glad to know they take my money so seriously! I can see me phoning again in another week. 😳

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81963869#Comment_81963869

The 8 week reference relates to this being the maximum permitted by the FCA regulations.

Rich2808

https://forums.moneysavingexpert.com/discussion/comment/81963869#Comment_81963869

This is very poor!.

They have apparently had your money for two weeks since 1 April (when your current provider transferred it) - but not credited it to your ISA account. So where is your cash - given they should have received it before the Easter Weekend?

westv

https://forums.moneysavingexpert.com/discussion/comment/81963863#Comment_81963863

That makes no sense. The cashback says minimum of £20k in new money. It doesn't say you can only fund with new money