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  • FIRST POST
    • Ftba.d
    • By Ftba.d 22nd Aug 19, 11:11 PM
    • 113Posts
    • 16Thanks
    Ftba.d
    HSBC Uswitch £175 offer
    • #1
    • 22nd Aug 19, 11:11 PM
    HSBC Uswitch £175 offer 22nd Aug 19 at 11:11 PM
    Hi ,

    Iím considering making the switch but have some questions ...

    - Iím currently with Barclays . Do you think I should inform them that I am thinking about making the switch because itís an account with similar benefits and the lure of £175 and see if they offer anything ?

    - if I do switch will all my pay etc go into my new account seamlessly ? Iíve read that some direct debits etc get lost ?

    - what is the actual process ? I sign up and then immediately all my outgoings and incoming money goes to my new hsbc account ?

    - can I keep my existing credit card I have with Barclays or does that need to switch too ?

    Thanks in advance
Page 1
    • 20aday
    • By 20aday 23rd Aug 19, 12:10 AM
    • 2,493 Posts
    • 1,067 Thanks
    20aday
    • #2
    • 23rd Aug 19, 12:10 AM
    • #2
    • 23rd Aug 19, 12:10 AM
    Morning,

    Have a look at the Current Account Switching Service website for any questions you might have:

    https://www.currentaccountswitch.co.uk/Pages/Home.aspx

    You say you bank with Barclays; do you use their Blue Rewards scheme at all?

    https://www.barclays.co.uk/current-accounts/blue-rewards/

    It's relatively simple and straightforward; it's seldom I've seen stories in the media about occasions where it's gone wrong but they appear to be few and far between.

    If you decide to switch and meet any qualifying criteria by the seventh day of the 'switch' everything will be taken from your HSBC account but you may need to inform your employer of your new account details.

    You'd be able to keep your Barclaycard without a Barclays current account.
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
    • Ftba.d
    • By Ftba.d 23rd Aug 19, 1:08 AM
    • 113 Posts
    • 16 Thanks
    Ftba.d
    • #3
    • 23rd Aug 19, 1:08 AM
    • #3
    • 23rd Aug 19, 1:08 AM
    Thanks for your response /suggestions 20aday .

    I currently have blue rewards however I have lost any loyalty I had with Barclays as I feel they unfairly didnít uphold my missold packaged account complaint I was sold in 2008 when I had just finished Uni. After using them solely over the years and being a loyal customer , they didnít show any recognition of this in how they handled the complaint so it irks me they benefit from holding all my money / savings ...

    I think I may take the plunge and go to HSBC. Like I said , after being a loyal customer for 15 years and using no other bank Iíve never before paid any attention to these switch offers but after my recent experience with Barclays, I think now is the time ...
    • Gary_Dexter
    • By Gary_Dexter 23rd Aug 19, 8:53 AM
    • 6,597 Posts
    • 4,425 Thanks
    Gary_Dexter
    • #4
    • 23rd Aug 19, 8:53 AM
    • #4
    • 23rd Aug 19, 8:53 AM
    Hi ,

    Iím considering making the switch but have some questions ...

    - Iím currently with Barclays . Do you think I should inform them that I am thinking about making the switch because itís an account with similar benefits and the lure of £175 and see if they offer anything ?

    No you don't need to tell them

    - if I do switch will all my pay etc go into my new account seamlessly ? Iíve read that some direct debits etc get lost ?

    Yes it will all transfer over, however you should give your employer you new account number and sortcode when you get it.
    Direct Debits will just transfer over with no intervention required.


    - what is the actual process ? I sign up and then immediately all my outgoings and incoming money goes to my new hsbc account ?

    No it will happen over the course of a week or so. When you begin the switching process you will be given dates and a timeline.

    - can I keep my existing credit card I have with Barclays or does that need to switch too ?

    It depends - is it reliant on having the current account?
    If not then by all means keep it.


    Thanks in advance
    Originally posted by Ftba.d
    Answers above.
    • eskbanker
    • By eskbanker 23rd Aug 19, 9:04 AM
    • 11,404 Posts
    • 14,154 Thanks
    eskbanker
    • #5
    • 23rd Aug 19, 9:04 AM
    • #5
    • 23rd Aug 19, 9:04 AM
    Do you think I should inform them that I am thinking about making the switch because itís an account with similar benefits and the lure of £175 and see if they offer anything ?
    Originally posted by Ftba.d
    While there are tales of customer retention departments at the likes of Sky who'll often offer incentives to those thinking of leaving, this doesn't translate into the highly-regulated financial services industry, so I don't believe that any bank will make any gestures to discourage you from switching a current account away. It's slightly different for credit cards where there's some leeway with discretionary promo rates and so on, but this doesn't translate into similar opportunities in current accounts.

    After using them solely over the years and being a loyal customer , they didnít show any recognition of this in how they handled the complaint so it irks me they benefit from holding all my money / savings ...
    Originally posted by Ftba.d
    Although many customers would expect banks to recognise such loyalty, it really doesn't work like that, so if you're anticipating HSBC (or any other bank) taking such things into account then I'm afraid you'll be disappointed again....
    • Ftba.d
    • By Ftba.d 23rd Aug 19, 11:17 AM
    • 113 Posts
    • 16 Thanks
    Ftba.d
    • #6
    • 23rd Aug 19, 11:17 AM
    • #6
    • 23rd Aug 19, 11:17 AM
    Thanks for your help Gary and eskbanker!

    I have made the switch , or should I say , started the application process .

    I honestly couldn’t stick with Barclays after my recent experience as it would go against every moral fibre of my being...
    • Heng Leng
    • By Heng Leng 23rd Aug 19, 1:23 PM
    • 4,863 Posts
    • 1,594 Thanks
    Heng Leng
    • #7
    • 23rd Aug 19, 1:23 PM
    • #7
    • 23rd Aug 19, 1:23 PM
    I would also advise against switching - your main account - to HSBC as definitely out of the frying pan and into the fire even with the evil Barclays.

    I would suggest you keep your old Barclays account as a spare.

    Open another (with Barclays) and switch that if you wish.
    • Robin9
    • By Robin9 23rd Aug 19, 1:34 PM
    • 4,981 Posts
    • 3,251 Thanks
    Robin9
    • #8
    • 23rd Aug 19, 1:34 PM
    • #8
    • 23rd Aug 19, 1:34 PM
    Fta.d - is (or rather was) Barclays your only account. ?

    The general school of thought is that you should have 2 or 3 current accounts (and credit cards) for when things go wrong - either their IT or they decide they don't want your business any more)
    Never pay on an estimated bill
    • Ftba.d
    • By Ftba.d 24th Aug 19, 10:56 AM
    • 113 Posts
    • 16 Thanks
    Ftba.d
    • #9
    • 24th Aug 19, 10:56 AM
    • #9
    • 24th Aug 19, 10:56 AM
    Hi

    Thanks for the responses .

    Iíve made the switch ... taking your advice on board , I may say to Barclays I want to change my current Ďtech pack Ď account to a free current account .
    • Gary_Dexter
    • By Gary_Dexter 24th Aug 19, 11:34 AM
    • 6,597 Posts
    • 4,425 Thanks
    Gary_Dexter
    If you’ve made a switch then your Barclays account will close.
    • colsten
    • By colsten 24th Aug 19, 11:46 AM
    • 11,060 Posts
    • 10,352 Thanks
    colsten

    Iíve made the switch ... taking your advice on board , I may say to Barclays I want to change my current Ďtech pack Ď account to a free current account .
    Originally posted by Ftba.d
    It is probably too late for that now, unless you can still stop the switching process altogether.

    Nothing stops you from applying for another account with Barclays - or with someone else, because remember, you couldn't stick with Barclays

    I honestly couldnít stick with Barclays after my recent experience as it would go against every moral fibre of my being...
    Originally posted by Ftba.d
    Good luck with your HSBC application.
    • techno79
    • By techno79 27th Aug 19, 2:52 PM
    • 328 Posts
    • 45 Thanks
    techno79
    I applied for the HSBC account (with £175 bonus) last night, I got the confirmation page that the application went through but I never got a confirmation email. It's now over 15 hours later, and still no email to confirm I've even applied. Is this normal?

    The deadline for £175 bonus is coming up soon and I really don't want to miss out on some minor technicality. Any suggestions?
    • ShezaEU
    • By ShezaEU 27th Aug 19, 3:36 PM
    • 5 Posts
    • 0 Thanks
    ShezaEU
    If I may hijack your thread to ask another question - as I’m also thinking of switching.

    What’s the minimum term to stay at HSBC? I know for Nationwide’s referrals its 3 months. I can’t see anything in the terms.
    • jeepjunkie
    • By jeepjunkie 27th Aug 19, 6:37 PM
    • 1,653 Posts
    • 1,471 Thanks
    jeepjunkie
    I would also advise against switching - your main account - to HSBC as definitely out of the frying pan and into the fire even with the evil Barclays.

    I would suggest you keep your old Barclays account as a spare.

    Open another (with Barclays) and switch that if you wish.
    Originally posted by Heng Leng
    Lol, HSBC as a daily. Hahaha

    You will need the £175 to pay for a councillor after trying to set up a digital secure key and endless memorable questions........
    • eskbanker
    • By eskbanker 27th Aug 19, 11:14 PM
    • 11,404 Posts
    • 14,154 Thanks
    eskbanker
    You will need the £175 to pay for a councillor after trying to set up a digital secure key and endless memorable questions........
    Originally posted by jeepjunkie
    Probably worth spending the money on something more therapeutic than a local government official....
    • charltonfan1
    • By charltonfan1 28th Aug 19, 10:19 AM
    • 281 Posts
    • 52 Thanks
    charltonfan1
    This was promoted on this week's MSE bulletin but via money.co.uk for £175

    Signed up today for a new account prior to the 2nd Sep deadline.

    I didnt get any confirmation emails either
    • Rach273
    • By Rach273 28th Aug 19, 10:37 AM
    • 38 Posts
    • 19 Thanks
    Rach273
    I signed up via the link last week and not heard anything at all yet...
    Mortgage: October 2019 £126,300 September 2017 £135,000
    Debt (0%) £5,725 Savings £3,050.45 S&S ISA £307.38
    • techno79
    • By techno79 28th Aug 19, 11:25 AM
    • 328 Posts
    • 45 Thanks
    techno79
    I signed up via the link last week and not heard anything at all yet...
    Originally posted by Rach273
    Although I only signed up on Monday evening, I haven't received a reply either. I don't know if that is normal or not.
    • TClite
    • By TClite 29th Aug 19, 6:30 PM
    • 47 Posts
    • 6 Thanks
    TClite
    I havenít got any confirmation yet after setup was a success.
    Funnily enough my girlfriend did having done it after me.

    Question

    1. Do we need to begin the switching process before the deadline? Or is the fact we have an open account prior to the deadline sufficient and we still get the 30 days to then switch. The reason Iím asking is my direct debits wonít be up and running before the deadline on Monday.

    2. What happens if we get our welcome packs after Mondayís deadline but we were approved prior to it.
    • charltonfan1
    • By charltonfan1 29th Aug 19, 8:12 PM
    • 281 Posts
    • 52 Thanks
    charltonfan1
    I havenít got any confirmation yet after setup was a success.
    Funnily enough my girlfriend did having done it after me.

    Question

    1. Do we need to begin the switching process before the deadline? Or is the fact we have an open account prior to the deadline sufficient and we still get the 30 days to then switch. The reason Iím asking is my direct debits wonít be up and running before the deadline on Monday.

    2. What happens if we get our welcome packs after Mondayís deadline but we were approved prior to it.
    Originally posted by TClite
    1. I read it as the switch needs to happen within 30 days of the deadline.

    Setup standing orders then as its 2 SOs or DDs to qualify and they should be quicker to setup

    2. Pass



    I got a text this evening from HSBC saying they have received my application and its under review
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