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    • vernall
    • By vernall 3rd Jan 18, 1:17 PM
    • 450Posts
    • 92Thanks
    vernall
    HSBC and ongoing Direct Debits
    • #1
    • 3rd Jan 18, 1:17 PM
    HSBC and ongoing Direct Debits 3rd Jan 18 at 1:17 PM
    Hi guys

    A few months ago I opened a HSBC advance account and did a switch from an old current account to get the £150 incentive (which I have received). I also opened a 5% regular saver with them,I also plan to stay with them for the 12 months to get the extra £50.

    In a few month Tesco are stopping their direct debits and i use them for this account.

    My question is do I need to have 2 direct debits on this account anymore anyway?

    I can only see in the Ts and Cs that I need to pay in £1750 for 9 months out of the 12 months to get the extra £50
Page 1
    • Midland45
    • By Midland45 3rd Jan 18, 1:33 PM
    • 86 Posts
    • 34 Thanks
    Midland45
    • #2
    • 3rd Jan 18, 1:33 PM
    • #2
    • 3rd Jan 18, 1:33 PM
    Hi guys

    A few months ago I opened a HSBC advance account and did a switch from an old current account to get the £150 incentive (which I have received). I also opened a 5% regular saver with them,I also plan to stay with them for the 12 months to get the extra £50.

    In a few month Tesco are stopping their direct debits and i use them for this account.

    My question is do I need to have 2 direct debits on this account anymore anyway?

    I can only see in the Ts and Cs that I need to pay in £1750 for 9 months out of the 12 months to get the extra £50
    Originally posted by vernall
    As far as I'm aware DDs aren't required for this account going forward after you have received the incentive, only the monthly £1750 pay in, as you have stated.
    Having said that I'm not sure whether I would take the chance of not maintaining 2 DDs until the additional incentive had been received.
    Last edited by Midland45; 03-01-2018 at 1:41 PM.
    • ST-User
    • By ST-User 3rd Jan 18, 2:36 PM
    • 55 Posts
    • 13 Thanks
    ST-User
    • #3
    • 3rd Jan 18, 2:36 PM
    • #3
    • 3rd Jan 18, 2:36 PM
    No you don't need them, I've just asked HSBC with the same question and they confirmed that the account doesn't need DD's. You can delete them after getting the switch incentive.
    • gwapenut
    • By gwapenut 5th Jan 18, 4:28 PM
    • 922 Posts
    • 380 Thanks
    gwapenut
    • #4
    • 5th Jan 18, 4:28 PM
    • #4
    • 5th Jan 18, 4:28 PM
    As far as I'm aware DDs aren't required for this account going forward after you have received the incentive, only the monthly £1750 pay in, as you have stated.
    Having said that I'm not sure whether I would take the chance of not maintaining 2 DDs until the additional incentive had been received.
    Originally posted by Midland45
    I think you don't even need a £1750 monthly pay in - they also say that they accept £10500 every 6 months.

    I'm hoping by paying a total of £10500 in twice a year that I will qualify for my bonus ...
    • Tractorman123
    • By Tractorman123 6th Jan 18, 12:25 AM
    • 26 Posts
    • 2 Thanks
    Tractorman123
    • #5
    • 6th Jan 18, 12:25 AM
    • #5
    • 6th Jan 18, 12:25 AM
    That's good then about the dd's, one less thing to worry about. I'm meaning to carry on with a new regular saver this month (after current one matures) but will keep rotating the £1750 in and out but just keep a minimum balance in the advance account as I've had it over 12months.
    • Ballard
    • By Ballard 6th Jan 18, 3:27 AM
    • 1,861 Posts
    • 1,652 Thanks
    Ballard
    • #6
    • 6th Jan 18, 3:27 AM
    • #6
    • 6th Jan 18, 3:27 AM
    I donít have any direct debits for my HSBC account but still received the bonus. Two standing orders was sufficient as per their t&cs. I simply set them up to accounts of mine elsewhere.
    I got a letter from the government the other day. I opened it and read it. It said they were suckers.
    • vernall
    • By vernall 6th Jan 18, 1:56 PM
    • 450 Posts
    • 92 Thanks
    vernall
    • #7
    • 6th Jan 18, 1:56 PM
    • #7
    • 6th Jan 18, 1:56 PM
    I donít have any direct debits for my HSBC account but still received the bonus. Two standing orders was sufficient as per their t&cs. I simply set them up to accounts of mine elsewhere.
    Originally posted by Ballard

    do we need standing orders then?
    • YorkshireBoy
    • By YorkshireBoy 6th Jan 18, 2:08 PM
    • 30,157 Posts
    • 18,015 Thanks
    YorkshireBoy
    • #8
    • 6th Jan 18, 2:08 PM
    • #8
    • 6th Jan 18, 2:08 PM
    do we need standing orders then?
    Originally posted by vernall
    You needed to switch DDs and/or SOs for the incentive.
    You didn't need to maintain either, not even until the £150 incentive was paid.
    There is no ongoing DD or SO requirement for either the current account itself or for the regular saver, or for the £50 incentive a year later.

    But don't take my (or anyone else's) word for it. Read your T&Cs.
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