HSBC cashback offer

25_Years_On

https://forums.moneysavingexpert.com/discussion/comment/82134460#Comment_82134460

My confusion was in the definition of new funds. If the funds come from a HSBC bank account are they new? Even if they have only been in their for a day at most. I assumed not but I guess I was wrong about that.

Umiamz

"If the funds come from a HSBC bank account are they new?"

Yes, if they weren't in your account before the qualifying period. How else would you fund the ISA if you weren't transferring? It has its own sort code and account number but you can't pay directly into it from another bank.

friolento

https://forums.moneysavingexpert.com/discussion/comment/82136547#Comment_82136547

Here's how they define new funds. Anything you transferred / paid into HSBC / FD / M&S on or after March 9 will be fine.

efunc

https://forums.moneysavingexpert.com/discussion/comment/82130553#Comment_82130553

I have the Cashback confirmation, but will still be filing the official FOS complain next week. The two things are unrelated. The delay is the delay, and can't be 'un-delayed'.

efunc

Incidently, it may be of interest to readers that I have another similar experience with HSBC and their Invest Direct trading account since this ISA fiasco…

Both my father and I both have these InvestDirect accounts (and we've been with HSBC since they were called Midland and I had a Griffin savers account!). Anyway, my father tried to send me some shares from his postfolio to my one after speaking to them and confirming the process. They never arrived. After a week or so he called them again and was told that my account was dormant and that I need to call and re-activate it. At no point had they informed me of this, and I was getting regular statements. I did call them and they said they would now activate it again and there was nothing further I needed to do. Another two weeks passed and no sign of the shares so my dad called again and was told the same rubbish that my account had not been activated. I then called to enquire why and they said it had just been overlooked or forgotten despite the previous assurances. This time I spoke to the head of their team who said it would be expidited and apologied that it wasn't done before and that no one had informed us, but there was nothng further I needed to do. Another couple of weeks go by.and nothing, so my dad again calls, spends half a day arguing with clueless people who apologied that it had been forgotton again(!) and I should probably try calling again. So far we're almost two months with no sign of progress and everything we're told is frankly a lie and they have no accountability or concern whatsoever. I asked if I could be informed when it's done to confirm it's been re-activated since they've 'forgotten' so many times, but was told they would do no such thing and I should just keep reminding them every few weeks until I got lucky. Suffice to say both my fatther and I are both closing our accounts and moving to more professional services.

I personally think capitalism is ending, or at least HSBC will not be part of any future multi-polar world; this is now beyond bizzarre. Lets no forget how HSBC was founded and its core business during the dutch east india company, city of london and opium wars.

AdamBazzer82

They gave me £300 after my official complaint. This was after my ISA transfer took over 130 days to complete. There had also been some quite bad customer service along the way and failed promises of it being expedited etc. £300 was about the lowest I was going to accept without sending the case to the Ombudsman, so as they've hit that figure I will not be bothering to take it any further. Will also be receiving the ISA transfer bonus by the end of September. I will be reluctant to ever do anything other than simple banking with HSBC in the future though. Absolutely pathetic experience, from another who has been with them since the Midland Bank days.

SuzeQStan

I’ve diarised early March put in isa transfer request for the earliest possible maturity date - to any port in the storm. Will never darken HSBC doorstep again following that.

25_Years_On

https://forums.moneysavingexpert.com/discussion/comment/82136684#Comment_82136684

Thanks for that. That explains everything and I missed the date in the blurb.

friolento

https://forums.moneysavingexpert.com/discussion/comment/82137671#Comment_82137671

Super well done for getting £300. That's double of what's been reported by others who complained.

friolento

Imagine the middle-aged couple who just moved in next doors told you tonight that they are some sort of managers at HSBC. Both of them, not just one of them. What do you do now? Asking for a friend.

1. put your house on the market and move asap
   
2. pretend you don't know anything about banks and that you keep your money under your mattress
   
3. warn all your other neighbours that the devil and his wife have moved in
   
4. other, suggestions welcome