Can I switch from first direct to HSBC accounts to get bonus?

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Stu6781
Stu6781 Posts: 119 Forumite
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in Budgeting & bank accounts
As the title says, can I switch my first direct current account to the HSBC advance accoun to get the £175 bonus? And how often do they ask for income details? Thanks

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  • badger09
    badger09 Posts: 11,247 Forumite
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    Stu6781 wrote: »
    As the title says, can I switch my first direct current account to the HSBC advance accoun to get the £175 bonus? And how often do they ask for income details? Thanks

    Unless there is anything in the HSBC switch incentive T&Cs saying you can't - then you can;)

    They always ask about income details on the application form. (As does every other current account provider I've ever used).
  • eskbanker
    eskbanker Posts: 31,288 Forumite
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    Stu6781 wrote: »
    As the title says, can I switch my first direct current account to the HSBC advance accoun to get the £175 bonus?
    As with most such questions, this is answered in the offer Ts & Cs, but if you're happy to open an account and switch based on what's said by an anonymous internet stranger, the answer is 'yes'....
    Stu6781 wrote: »
    And how often do they ask for income details?
    I can't speak from personal experience but know that on application you have to declare your salary, etc, and they'll obviously conduct a credit check, probably accompanied by another with National Hunter to validate consistency of declared income. Anecdotally they're picky about who to accept, so if your income isn't likely to be enough to make the £1,750 monthly payment on an ongoing basis then it's probably not going to be worth trying to fool them - they reserve the right to downgrade accounts when holders no longer satisfy eligibility criteria.
  • Gers
    Gers Posts: 12,058 Forumite
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    Over a year since I was refused an HSBC Advanced Account I've now been accepted, despite me now being retired and only in receipt of a LGPS pension, state pension and a tiny salary from a 3 day a month role. They total over £1750 though none will be paid directly into the HSBC account, only a monthly transfer each way.

    I would keep the FD account if you are using Regular Savers. Both of these, plus the M&S account have 5% interest on their RSs.
  • snowqueen555
    snowqueen555 Posts: 1,523 Forumite
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    First is the only bank that as ever declined me a bank account. I don't know if it is because i have an HSBC account, but i'd be interested in knowing if any other HSBC account holders have a First account.
  • Gers
    Gers Posts: 12,058 Forumite
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    snowqueen555 wrote: »
    First is the only bank that as ever declined me a bank account. I don't know if it is because i have an HSBC account, but i'd be interested in knowing if any other HSBC account holders have a First account.

    Yes, me. And the M&S one too.
  • badger09
    badger09 Posts: 11,247 Forumite
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    snowqueen555 wrote: »
    First is the only bank that as ever declined me a bank account. I don't know if it is because i have an HSBC account, but i'd be interested in knowing if any other HSBC account holders have a First account.

    Many of the regular posters, myself included, have current accounts with First Direct, HSBC and M&S:)
  • 18cc
    18cc Posts: 2,120 Forumite
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    I have hsbc and fd and got switch bonuses for both - never applied for m&s
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