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HSBC Advance Account. Free £150 to switch PLUS £50 if you stay, though high min pay-in
HSBC Advance Account. Free £150 to switch PLUS £50 if you stay, though high min pay-in

HSBC Advance Account. Free £150 to switch PLUS £50 if you stay, though high min pay-in

From mse

Open and switch to HSBC's Advance Account* and you'll get £150. And if you stay for a year, you'll get a further £50 bonus - you can earn slightly more overall with the TSB account below but there are more hoops to jump through. Note the HSBC account has a high minimum monthly pay-in – £1,750 a month – so consider whether you'll be able to meet this before opting for it.

Need-to-knows
You must open the account by Sun 23 Jul, then start a switch using HSBC's Current Account Switch Service, including at least two direct debits or standing orders, within 30 days. If you say you want to switch when applying online, HSBC will call you within two working days to arrange a phone or branch appointment.
The bonus is paid within 50 days of the switch completing.
You can't get the bonus if switching from another HSBC account, or if you've had a current account with it since 1 Jan 2015. You can get it if you have a mortgage or savings account with HSBC – just apply online as normal.
If your current bank isn't signed up to CASS, you can still get the bonus by doing a manual switch. See key questions for more.
If you qualify for the £150 bonus payment, you'll also get a 0% overdraft for six months when you open the account, though the limit you get is credit score dependent.
If you want to get the £50 extra bonus, you need to register for mobile or online banking within 60 days of account opening, plus you'll need to pay in £1,750/mth for at least nine of the first 12 months. It'll be sent within 30 days of your first anniversary of account opening.
You'll be eligible to get HSBC's 5% regular savings account.
The switch bonus is also available if you're switching to HSBC's Premier Account. But you'll need to either pay your income in to it and have £50,000 of savings/investments with HSBC; or have an income of £100,000+ a year, plus another qualifying product with HSBC, to get the account.
HSBC shares its £85,000 UK savings safety guarantee with First Direct, so ensure you don't hold more than £85,000 across the two banks.

74 Comments

Original Poster

For people who are with tsb already. I se banks are the same as ever new customers only while existing get shafted for staying! Had no problems with the tsb but had my interest cut and don't get the £130 plus £5 for direct debits etc...

luvsadealdealdeal

oops sorry OPcolded it - expired it - reported it as spam - triple whammy … oops sorry OPcolded it - expired it - reported it as spam - triple whammy lolmy mistake, thought it was a repeat post - hope you'll understand



You're totally hilarious

http://www.gentlediapering.com/wp-content/uploads/2016/04/yelling-parenting.gif?8b8eb4

luvsadealdealdeal

oops sorry OPcolded it - expired it - reported it as spam - triple whammy … oops sorry OPcolded it - expired it - reported it as spam - triple whammy lolmy mistake, thought it was a repeat post - hope you'll understand



My mistake - no you're not oO

Bilbo1968

You're totally hilarious



yeah - well - at least I said sorry

How do we get this deal if we already have a HSBC advance account? A bit out of order for existing customers isn't it?

Anon32

For people who are with tsb already. I se banks are the same as ever new … For people who are with tsb already. I se banks are the same as ever new customers only while existing get shafted for staying! Had no problems with the tsb but had my interest cut and don't get the £130 plus £5 for direct debits etc...


Why didn't you get the £130?

Do you qualify if you already hold a First Direct account?

Original Poster

MadeDixonsCry

Why didn't you get the £130?


I joined two years ago and they won't put me on that account and interest was cut to 3% from 5% and to £1500 from £2000 this cut is to fund new customers and then they hope you stay or can't be bothered! It amazes me at how people even with offers will still stay with their bank! I will not

AndyCheets2 m ago

Do you qualify if you already hold a First Direct account?


Yes

alu355

Yes



​I was told no when I recently applied. it'll be worth checking t&c

Anon32

For people who are with tsb already. I se banks are the same as ever new … For people who are with tsb already. I se banks are the same as ever new customers only while existing get shafted for staying! Had no problems with the tsb but had my interest cut and don't get the £130 plus £5 for direct debits etc...



Loyalty doesn't pay unfortunately, moved from HSBC after years as a loyal customer, then to Halifax ,then to TSB and now Tesco, not once have I had a completely hassle free change over.

Original Poster

goldy12

Loyalty doesn't pay unfortunately, moved from HSBC after years as a … Loyalty doesn't pay unfortunately, moved from HSBC after years as a loyal customer, then to Halifax ,then to TSB and now Tesco, not once have I had a completely hassle free change over.


Has it affected your credit rating? Opening and closing credit card accounts does not but they always ask how long have you been with your bank just like how long have you been at your address. The longer the better

Anon32

I joined two years ago and they won't put me on that account and interest … I joined two years ago and they won't put me on that account and interest was cut to 3% from 5% and to £1500 from £2000 this cut is to fund new customers and then they hope you stay or can't be bothered! It amazes me at how people even with offers will still stay with their bank! I will not


Thank you for taking the time to explain.

Original Poster

luvsadealdealdeal

oops sorry OPcolded it - expired it - reported it as spam - triple … oops sorry OPcolded it - expired it - reported it as spam - triple whammy lolmy mistake, thought it was a repeat post - hope you'll understand



Don't you hate it when someone you've quoted deletes out their comment

Excellent deal, but omg, a phone call to arrange an appointment to open a bank account! Are they having a laugh!
who has time to do that,this day an age?

Who earns £1750 a month other than League 2 footballers?

Anon32

Don't you hate it when someone you've quoted deletes out their comment



that's why delete is there

Original Poster

Schwarzenegger

Who earns £1750 a month other than League 2 footballers?


Schwarzenegger does! So you'll be fine

Schwarzenegger

Who earns £1750 a month other than League 2 footballers?



Lots of people would. It's an annual salary of around £32,500 (allowing for tax and NI deductions).

Anon32

For people who are with tsb already. I se banks are the same as ever new … For people who are with tsb already. I se banks are the same as ever new customers only while existing get shafted for staying! Had no problems with the tsb but had my interest cut and don't get the £130 plus £5 for direct debits etc...



​I have it the other way round. Already on a HSBC Advanced account and doesn't give me any benefits other than an extra 0.05% on my basic savings account. I know they do have a good 5% regular saver. Loyalty doesn't pay anymore. This is why I'm in the middle of switching to TSB for their joining bonus, £5 + £5, and 3%.

goldy12

Loyalty doesn't pay unfortunately, moved from HSBC after years as a … Loyalty doesn't pay unfortunately, moved from HSBC after years as a loyal customer, then to Halifax ,then to TSB and now Tesco, not once have I had a completely hassle free change over.



It's not a bank thing. Who gets the best deals on broadband or phone? New customers getting cashback or people who threaten to leave. Everyone is encouraged to compare your home/ car insurance, electricity/ gas etc. every year. Even at my workplace, promotions are reserved for the people who they think will resign unless they get promoted. The squeaky wheel gets the grease.

Personally though, I wouldn't use a dark ages bank like HSBC as my main bank. The amount of time you'll waste having to deal with the additional admin isn't worth the bribe.

Original Poster

Muir

Personally though, I wouldn't use a dark ages bank like HSBC as my main … Personally though, I wouldn't use a dark ages bank like HSBC as my main bank. The amount of time you'll waste having to deal with the additional admin isn't worth the bribe.


What admin?

"You must pay at least £1,750 a month into the account (or a minimum of £10,500 every six month), not including money transferred from other sole or joint personal accounts held with HSBC Bank"

https://www.hsbc.co.uk/1/2/current-accounts/hsbc-advance/how-to-apply

I once paid in £500 from PayPal and accidentally ended up being upgraded to Advance. It's all a bit pointless though.

Edited by: "smiggy" 6th Jun

I tried applying for this before but got rejected due to my income. I have enough savings to be able to set up a standing order from my main bank account but they judged it on income so said no.

Schwarzenegger

Who earns £1750 a month other than League 2 footballers?




...Well.....:p and I only work in IT

I wont be going for it though. I am happy with my current bank (s)
Edited by: "malachi" 6th Jun

£1750 not for me

High min pay in... £1,750. Pfft!

I switched to HSBC last time it was posted. They never contacted me to arrange the switch and apparently because I didn't go into branch to complete it within 30 days I lost out on the money. It was only when I rang up to cancel the account that they said they would manualy add the £150.

do you have to go through a phone interview to switch or you just have to apply online?
Edited by: "andreasuk" 6th Jun

Schwarzenegger

Who earns £1750 a month other than League 2 footballers?


It usually includes tax credits etc if you have children.

Not for me, I don't fancy giving my money to a bank that laundered money for the Mexican drug cartels.

can I switch from my backyard burried fix account??

I've got an advance account and it has become very handy at remortgage, they do advance products. Lower rates and they halve the product fees too!

Schwarzenegger

Who earns £1750 a month other than League 2 footballers?


people on about 28 - 30k a year I assume, depending on tax codes and pension arrangements...

tavalin10 h, 41 m ago

Lots of people would. It's an annual salary of around £32,500 (allowing …Lots of people would. It's an annual salary of around £32,500 (allowing for tax and NI deductions).



Plumbers

jools2001

Excellent deal, but omg, a phone call to arrange an appointment to open a … Excellent deal, but omg, a phone call to arrange an appointment to open a bank account! Are they having a laugh!who has time to do that,this day an age?



Some accounts still have to be opened in branch. I agree, it is laughable. I don't really mind as I have all the time in the world for the wrong things. Lol

Schwarzenegger

Who earns £1750 a month other than League 2 footballers?



As someone else has said, this is not that much. More than the UK average, but the UK average is so low. I don't know how so many people manage to live on so little.

smokedsausage


its less than that. 28k would net you £1,860.12 PM. obviously that excludes any pension contribution.
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