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  • FIRST POST
    • shteca
    • By shteca 13th Nov 19, 2:08 PM
    • 113Posts
    • 304Thanks
    shteca
    HSBC Advance 175 Offer
    • #1
    • 13th Nov 19, 2:08 PM
    HSBC Advance 175 Offer 13th Nov 19 at 2:08 PM
    I bank primarily with NatWest but I also have a Monzo account. I don't use the Monzo account and have no DD set up on it.
    I saw the HSBC joining offer in Martins email this week and I want to do it.
    My question, can I just set up two Direct Debits to charities for 2 each on my Monzo account and then do the DD switch program when setting up the HSBC Advance account?
    The requirements state just 2 DD and do not say a minimum amount.
    Also I then need to pay in 1,750 to the account each month to get the reward. Do I need to keep paying that in afterwards and how long for? Also does the 1,750 need to come in on a SO or DD or can I just pay it in via BACS? I am self employed and just send over money when I need it
    Basically, does any one know the ins and outs of this offer
    Debt Fully Paid Off (20/06/2019): 54,441.87
    Dave Ramsey is my financial guru!
Page 3
    • Katiehound
    • By Katiehound 6th Jan 20, 2:48 PM
    • 5,179 Posts
    • 40,219 Thanks
    Katiehound
    The 5% RS was worth having- mine has some months to go yet. When that ends may think of leaving!
    I pay my 1750 in 3 chunks. 1000 which has one cycling circuit, 500 on another circuit and 250 which funds the RS. Nothing stays too long!!
    Last edited by Katiehound; 06-01-2020 at 3:05 PM.
    Being polite and pleasant doesn't cost anything!
    If you found my posting helpful please hit the "Thanks" button!
    Many thanks


    • oli356
    • By oli356 6th Jan 20, 7:55 PM
    • 52 Posts
    • 12 Thanks
    oli356
    Did you have to go into branch at any point?
    Originally posted by VanquishStorm
    No.

    Also had an email today saying "We've now sent your new HSBC Debit Card and it will arrive by post at your registered address within 3 working days. Once received, you'll need to sign the back of your new card and activate it before you can use it. "



    So seems like once I've got the stuff in the post I will be good to go without needing to visit a branch.
    • irelavv
    • By irelavv 7th Jan 20, 11:44 AM
    • 29 Posts
    • 7 Thanks
    irelavv
    It's no joke that they are really picky! Having applied in early November last year and yesterday this year I received rejections. If there's any offers in the summer I'll try again and maybe the third time would be the good luck charm.
    • jimjames
    • By jimjames 7th Jan 20, 1:24 PM
    • 13,310 Posts
    • 12,362 Thanks
    jimjames
    Did you have to go into branch at any point?
    Originally posted by VanquishStorm
    Yes I did when I opened my account, they needed ID and income I seem to recall
    Remember the saying: if it looks too good to be true it almost certainly is.
    • Brewer20
    • By Brewer20 7th Jan 20, 4:32 PM
    • 235 Posts
    • 88 Thanks
    Brewer20
    It's no joke that they are really picky! Having applied in early November last year and yesterday this year I received rejections. If there's any offers in the summer I'll try again and maybe the third time would be the good luck charm.
    Originally posted by irelavv

    I've just opened an account but just for the 75 switch incentive. I would never get accepted for the Advance account for the 175. It was all smooth quick and easy and I just see it as some quick money as I had a donor account sitting there with two DD's. The Regular saver maybe used but like my FD saver has reduced interest now.
    • wallofbeans
    • By wallofbeans 15th Jan 20, 7:39 PM
    • 1,023 Posts
    • 45 Thanks
    wallofbeans
    Hi All.

    I've applied for this and am waiting to here from HSBC. I am suddenly nervous that I need to have 2 DD/ SO in advance when I was planning on setting them up as soon as the account was open... I might have time to fix this on the swtiching account if I've got it wrong though...

    Thoughts?
    • eskbanker
    • By eskbanker 15th Jan 20, 7:46 PM
    • 12,167 Posts
    • 15,083 Thanks
    eskbanker
    Hi All.

    I've applied for this and am waiting to here from HSBC. I am suddenly nervous that I need to have 2 DD/ SO in advance when I was planning on setting them up as soon as the account was open... I might have time to fix this on the swtiching account if I've got it wrong though...

    Thoughts?
    Originally posted by wallofbeans
    As with any other product/offer, read the Ts & Cs before taking the plunge!

    In this case, read clause 2(c) carefully....
    • YorkshireBoy
    • By YorkshireBoy 15th Jan 20, 7:53 PM
    • 31,141 Posts
    • 19,178 Thanks
    YorkshireBoy
    I might have time to fix this on the swtiching account if I've got it wrong though...

    Thoughts?
    Originally posted by wallofbeans
    I can guarantee you'll have time to set up 2 SOs by the time your account is opened, let alone switched, if you get a typical HSBC account opening experience.
    • moneywow1
    • By moneywow1 15th Jan 20, 8:17 PM
    • 67 Posts
    • 22 Thanks
    moneywow1
    Hi All.

    I've applied for this and am waiting to here from HSBC. I am suddenly nervous that I need to have 2 DD/ SO in advance when I was planning on setting them up as soon as the account was open... I might have time to fix this on the swtiching account if I've got it wrong though...

    Thoughts?
    Originally posted by wallofbeans
    I made this mistake. Wasn't thinking and switched over the wrong account that didn't have any DDs/SOs
    • wallofbeans
    • By wallofbeans 15th Jan 20, 8:32 PM
    • 1,023 Posts
    • 45 Thanks
    wallofbeans
    I can guarantee you'll have time to set up 2 SOs by the time your account is opened, let alone switched, if you get a typical HSBC account opening experience.
    Originally posted by YorkshireBoy
    Just did. Phew. Thanks all.
    • VanquishStorm
    • By VanquishStorm 16th Jan 20, 6:30 PM
    • 8 Posts
    • 0 Thanks
    VanquishStorm
    Well got my card, just waiting on pin and banking details before the switch goes ahead on the 20th. Already have a couple of SO and DD on the other account so.shoukd be good.
    • Brewer20
    • By Brewer20 16th Jan 20, 9:57 PM
    • 235 Posts
    • 88 Thanks
    Brewer20
    Well got my card, just waiting on pin and banking details before the switch goes ahead on the 20th. Already have a couple of SO and DD on the other account so.shoukd be good.
    Originally posted by VanquishStorm

    I've had my card first (that came very quickly) then the pin then yesterday a switching T&C's letter. Before all this I had by text saying my account was set up. Had another text yesterday saying return the slip with my signature on it. I haven't had a slip to return yet, assuming it's in the next letter as I am waiting for my pin to set up internet access, passwords etc.
    Here's hoping it's going to arrive without me having to chase them, switch happens in 4 days.
    • moneywow1
    • By moneywow1 16th Jan 20, 10:27 PM
    • 67 Posts
    • 22 Thanks
    moneywow1
    I've had my card first (that came very quickly) then the pin then yesterday a switching T&C's letter. Before all this I had by text saying my account was set up. Had another text yesterday saying return the slip with my signature on it. I haven't had a slip to return yet, assuming it's in the next letter as I am waiting for my pin to set up internet access, passwords etc.
    Here's hoping it's going to arrive without me having to chase them, switch happens in 4 days.
    Originally posted by Brewer20
    I got mine set up about 2 weeks ago, and I haven't had anything to sign yet
    • Sad_Dad
    • By Sad_Dad 16th Jan 20, 11:43 PM
    • 844 Posts
    • 11,743 Thanks
    Sad_Dad
    I applied on 30th December, received a text on the 3rd, credit check has taken place but I have not heard anything since.

    I opened an account in 2016 for an incentive, it took ages then and was a faff and I never received the bonus.

    I closed the account not long after so in theory I should be eligible for this but who knows.

    HSBC are the only bank I have ever had issues with.
    • RichyRich
    • By RichyRich 17th Jan 20, 9:23 PM
    • 1,868 Posts
    • 2,272 Thanks
    RichyRich
    I applied for this last night and the website indicated I was successful. It said I'd get my welcome pack by email and sort code and account number by post. All well and good, but since the welcome pack comes by email I thought I would have had it today. I haven't. Does anyone else have any experience of how quickly the welcome pack should come through after acceptance?
    #145 Save 12k in 2016 Challenge: 12,062.62/12,000.00 Beginning Balance: 5,027.78 CHALLENGE MET
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    This is the secret message.
    • Brewer20
    • By Brewer20 18th Jan 20, 12:25 PM
    • 235 Posts
    • 88 Thanks
    Brewer20
    Well after everything but my welcome pack arriving (supposedly with an activation code for online access) I actually rang up HSBC.
    They set me up with telephone security codes and thus I could input this when setting up online account access and of course the app.
    I told them I hadn't received the welcome pack with this stuff enclosed (well the initial verification code) and they said they'll get it sent out pronto (Monday) It'll be redundant now though as I am all set up and have access.
    • vacheron
    • By vacheron 21st Jan 20, 9:31 AM
    • 1,093 Posts
    • 1,073 Thanks
    vacheron
    I'd advise anybody to:
    1. Read the numerous threads on here that make that point that HSBC are picky if there's the slightest whiff of minimum monthly funding not coming from earned income
    Originally posted by eskbanker
    Can you advise how they might discover that the minimum monthly funding was not coming from earned income?

    PS Just realised that they ask for your annual income on the application. I guess the earlier poster told them their monthly income and it was not high enough for HSBC.
    Originally posted by RG2015
    I applied last week and yesterday received a letter asking me to attend a branch to verify my salary by bringing 3 months of payslips or bank statements showing 3 months of salary going into the account dated no more than 4 months old.

    They have already given me a previous bank account on the same terms 3 years ago, and I still have a 0% card with them with a 5 figure limit, but hey, if they want me to jump through a couple of silly hoops for the 175 then I consider it worth the inconvenicence.

    The irony is that the account I am switching is not the account my salary will be paid into, but they have no way of knowing that!

    I remember HSBC being a pain the last time I applied, so at least they are consistent!

    The most annoying part is that if you earn the 1750 then you probably work full time, and all their local branches (not that there are many left) where they ask you to take your payslips to are only open from 9am to 4.30pm.
    Last edited by vacheron; 21-01-2020 at 9:38 AM.
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    The poor only have expenses.
    The middle class buy liabilities they think are assets.
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    • moneywow1
    • By moneywow1 25th Jan 20, 1:01 AM
    • 67 Posts
    • 22 Thanks
    moneywow1
    I switched an account without 2 DDs/SOs, but I made the 2 SOs from the HSBC account itself, and I got the reward today.

    Just in case anyone made the same mistake and is worried about not getting it.
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