First Direct / HSBC normal switch

avocado1988

Hello. I’ve kept delaying opening up First Direct for the first ever time in the hope that both First Direct and HSBC have a bank switch offer going on at the same time and then open them both at the same time. Is there any chance HSBC will bring their normal switch back? (I think the premier needs too high a salary for me!). Thanks!

Emmia

Why do you want to do both at the same time?

avocado1988

Oh it's only because to get the switch offer from both? I realise they say that you can't get a first direct switch bonus if you have had a HSBC account since 2018…so I assumed it would also go the other way…I thought if I was able to do them both at the same time, then they would both work?

Emmia

https://forums.moneysavingexpert.com/discussion/comment/82001634#Comment_82001634

So, whilst I know why people do it, I think this type of switching (where you're not really switching your bank) is a bit cynical - you don't actually want either of the accounts, just the bonuses.

born_again

They use the same background system. So the odds that they are processing the switches at exactly same time (so neither can see the other) is slim to none.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82001669#Comment_82001669

I'm quite happy to "cynically" take banks' money by switching accounts - but it's not without significant effort and I'll only do it if I am sure that I meet the criteria for the award - this "double-dipping" on HSBC applications clearly breaches the terms and I wouldn't be bothering.