Switching to first direct

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ET18
ET18 Posts: 48 Forumite
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in Budgeting & bank accounts
Hi

I currently have a graduate HSBC account - which I am going to use as a donor account.

Is it possible to get the switching incentive if I switch to first direct ? I am in the process of setting up two direct debits for the graduate account so that I can switch it. I have read the terms and conditions but cannot find the info :/

Otherwise I will switch to M&S. Both are offering the linked saver too, just not a regular shopper at M&S

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  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
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    ET18 wrote: »
    Is it possible to get the switching incentive if I switch to first direct ? I am in the process of setting up two direct debits for the graduate account so that I can switch it. I have read the terms and conditions but cannot find the info :/
    The FD incentive T&Cs extend to just 3-4 paragraphs. If you can't find an HSBC exclusion in those 3-4 paragraphs no one else will be able to.

    Why mess with DDs? You don't even need SOs for the FD incentive. Just switch the account and whatever bill payments are on it.
  • Westie983
    Westie983 Posts: 5,213 Ambassador
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    Hi,

    Have you checked to make sure you can switch HSBC to FD as they are under the same umbrella, along with M&S? Maybe worth opening another account to switch instead that isnt under the same banking family, I haven't read the T&C's and if there is no mention of this then you should be fine.

    Westie983
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    Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%
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  • AndyPK
    AndyPK Posts: 4,241 Forumite
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    previously stated on here, being "under the same umbrella," should not exclude you from getting the bonus


    Personally if there is an alternative account (rather than FD) I would choose that path!


    Your FD online application must be quick! having all your data to hand=.


    employer address
    monthly spend/income
    NI no


    If it times out on you, its a 45 minute call to sign up on the phone!
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