Get £200 when you switch and stay with HSBC Advance Current Account
New customers who open an HSBC Advance Bank Account will get £150 when using the Current Account Switch Service
Get an extra £50 after 12 months, just for staying with us*
Plus get a 6 month interest and fee free overdraft
To be eligible for HSBC Advance customers will need to pay in a minimum of £1,750 per month
No monthly account fee 24/7 customer service £500 daily ATM cash withdrawals Contactless debit card (subject to status) 5% AER/Gross with our Regular Saver*1 £250 off booking fees on our Standard mortgage range*2 Your home may be repossessed if you do not keep up repayments on your mortgage. A minimum overdraft offer of £1000 at account opening*3 Access to HSBC Share the Experience Programme.
10% interest cashback on loans*4Representative
3.3% APR for loans between £7k‑15k over 1-5 years Preferential Overdraft Interest
Rate*5*6Representative Example: 17.9% EAREAR is Effective Annual Rate. This takes account of the interest rate and how often interest is charged, and does not include any other fees or charges Worldwide ATM cash withdrawals without HSBC non-sterling cash fees*7(A non-sterling transaction fee of 2.75% still applies)Additional features
CASS cannot be completed online , you will need to visit branch or telephone on the dedicated number to perform the switch once the account has been opened and within 30 days to qualify for the offer so just a heads up :wink:
brettytopbanana
13 Sep 17#5
I have been an Advance account holder for some years and I have to say that it is a decent bank account. Customer service is great and there are also rewards available.
amour3k to brettytopbanana
14 Sep 17#43
Your an 'advanced' user/customer etc?, so no surprises as to the 'advanced' nature of how your received?.
So are we to really be surprised by the nature of your alllll with them ...
brettytopbanana to amour3k
14 Sep 17#47
I am not quite sure what you are trying to say???
rambobambo
13 Sep 17#6
Doesn't say if someone who's done it before is not eligible or does it
Suthsy
13 Sep 17#7
I switched a few months ago with no incentive and now they offer this.
HankHandsome
13 Sep 17#8
"You must pay at least £1,750 into your account each month (or a minimum of £10,500 every six months) not including money transferred from any other sole or joint personal accounts(s) you hold with HSBC Bank."
So clearly not for everyone
rooney10 to HankHandsome
13 Sep 17#9
Dont quite see your point with this..... anyone with a few hundred quid or so to spare could easily take advantage of this :wink:
HankHandsome to rooney10
13 Sep 17#11
Not everyone has a "few hundred quid" to spare hence the "Not for everyone" comment. Not that hard to understand.
rooney10 to HankHandsome
13 Sep 17#13
I understand that . You could make the same point though for just about every deal that appears on HUKD that involves spending money. Some people haven't got £5 to spare either , where does this end ? Its a pointless observation really.
HankHandsome to rooney10
13 Sep 17#14
equally as pointless as pulling me up on it don't you think ?
considering the OP didn't originally state the minimum payment requirements for the account, i'd wager it wasn't that pointless.
rooney10 to HankHandsome
15 Sep 17#60
No I don't agree , Your post stated that this deal wasn't for everybody based on the monthly funding requirement being £1500 , which I believe is completely misleading as I don't have £1500 to spare each month , yet its still available to me and many many others ! If it was as simple and as straightforward as needing £1500 a month spare funds available then I would tend to agree with you. However this can be achieved without the need to have vast sums of money spare and can be bounced to and from several times to achieve the minimum funding requirement. I'd assume by your post that you were unaware of this , otherwise your post would have been deliberately misleading people and I would like to think that wasn't true. Therefore I would argue this is a deal that is available to most people that are eligible for a current account.
The Op didn't mention the funding requirement in the original post and it is a relevant piece of info , being a requirement. However this does not need to be a deal breaker as there are many ways of achieving this without having much funds available.
:wink:
chocci to rooney10
13 Sep 17#22
Bizarre comment!
In what way does 'a few hundred quid or so' equate to £1750?
wardi69 to chocci
13 Sep 17#26
I think he means that usually you can deposit and withdraw the same money until you've deposited £1750 in total e.g. £300 moved in and out of the account 6 times would cover the £1750
Pateo to HankHandsome
13 Sep 17#19
I was just wondering if you could transfer via standing order from another bank account to fulfill that rule but I think you've answered my question now!
ma6jrp to Pateo
13 Sep 17#21
Yes
missy89
13 Sep 17#10
HSBC advance accounts also entitle you to preferential rates on saving accounts and the loyalty ISA whereupon you deposit £300 and they'll pay £10 a month into your ISA for 12 months.
Not to mention the Advance debit card redesign just looks really cool :smiley_cat:
dave3641 to missy89
13 Sep 17#27
Have you got a link to this? I moved to the advance in February but have not noticed this offer.
mrme to missy89
13 Sep 17#31
Think the bonus £10 deal is dead :smile:
xsor to missy89
4 Oct 17#73
Ooo, have you got a link for that? That sounds interesting..
Yes123
13 Sep 17#15
I did this in 2016, had £150 up front and will get £50 at the end of this year. Free money as has been said in the comments above. However, If i could get the deal again I would NOT go for it. I spent 3 hours in the bank switching one account. when i pay in cheques (that Has to be done weekly) I have to faff about writing paying in slip, when I was with other banks I just needed to give them my card and the cheque. The online banking is a massive pain having several codes and passwords that has to be inputted each time I log in (other banks such as Santander, TSB, first direct and lloyds are so much easier to use and log on). Personally I can't wait to switch away from HSBC and will never go back again.
ryan7904 to Yes123
13 Sep 17#41
I had the same experience 6 months ago. Had to go into the branch twice to switch one account and spent nearly 3 hours in there. I later received an apology and was offered some wine and chocolates (which never turned up).
I also regularly pay in cheques and having to fill out a slip each time (regardless of if it's at the machine or the counter) is a hassle. The first time I went to pay in a cheque, I got to the front of the queue only to be told to come back once I'd completed a slip.
Online banking is awful and simple tasks like viewing direct debits cannot be done via the app.
As soon as I get my £50 after 12 months, I'll be switching back.
Anon32
13 Sep 17#16
Beat me to it! Yeah you have to start the cass online or in branch. Just paid my £150 for the one in aug. Worth it but min £1750 pay in. However this doesn't need to be your wages it just a requirement so could have £1500 plus direct debit from savings for £250 then another debit putting the same anount plus more into savings!
Pleased with the servive and security is top notch. Even if you get into my account you need to generate a number with either a dongle or your phone so no one could transfer money anyways
zippypants to Anon32
14 Sep 17#49
You are of my thinking, that's exactly what I'm going to do, It's quite a little earner £200 for the switch and £81 for the £250 a month savings, I consider that a result for a little bit of work :grin:
jrandrews72
13 Sep 17#18
Any deals if you already have HSBC advance account ?
FrugalFergal
13 Sep 17#20
Will this work for joint accounts. I was looking to get one however seems like we'd be better off switching two of our accounts across.
xPabloz
13 Sep 17#23
I'm abit confused, hopefully someone could help with answering some of the following questions:
1) I have three current account with same bank (Barclays), 2 of which I use and last one created solely for this purpose. How do I switch just the third account?
2) Can this be done in branch or does it have to be online? (although it is more easier but dont want to encounter any issues like with Halifax)
3) I do have spare cash so could I literally go into the bank, put £1,750 and thats it? or do I need to do it in a certain way?
Thanks
MARFW to xPabloz
13 Sep 17#25
re pay in, you have to do that monthly. easiest way is to set-up a standing order, on the day you receive your salary - in, and out the next day.
jameswalker457 to xPabloz
13 Sep 17#29
Can do online they'll manage the account switch and DD switch. You just need to make sure its paid out before. I'm not sure if you have a penalty if you don't do it each month. Easy way to do it though is just transfer 1750 in on the 1st day of the month... Standing order it out on the 2nd... HSBC are quite strict though. I earn 30k a year and they wouldn't sign me up to one of these...! Joke as I have decent amount of savings too
bobdylan
13 Sep 17#24
Lousy switch service - I gave up last time I tried to do this and stayed where I am!
Fullerene
13 Sep 17#28
The account you switch from .... "with at least 2 Direct debits/Standing Orders" - doesn't seem to be mentioned yet. Standing order is odd because this could include just you sending money between your accounts
myskepticsight
13 Sep 17#30
A good deal as £200 (eventually) is a decent amount, but having completed and received the switching incentives for all the banks that have made one available, HSBC's is by FAR the worst account opening experience. I think it took well over a month before I was in a position to use the account. I wouldn't be switching my "main" account for this, if you catch my drift.
Lucozade
13 Sep 17#32
Seems the process takes a while. Is there any other bank accounts offer anywhere near this amount for switching?
daern
13 Sep 17#33
First Direct will give you £100 and, as a bank, they will be far, far superior. If you're thinking about changing for a real reason (rather than just to grab the cash), I'd prefer £100 with FD than £200 with HSBC, even though they are, technically, the same bank...
WillPS to daern
13 Sep 17#34
I've opened both in the last year, and just closed my First Direct account a couple of weeks ago. They are pretty much identical - HSBC online banking is much nicer (First Direct feels like co-op/smile did 10+ years ago), app is basically the same (FD is a tiny bit faster).
People bang on about their service but apart from not having a phone menu I'm not sure I see anything to shout about.
Slash
13 Sep 17#35
If you ever need to go into the branch, HSBC has poor service. They refuse to let you ever see a teller or CS staff, you have to use their automated machines. Thats my local branch, i rarely ever need to go into branch but know they are useless when you actually need to speak to someone in person.
Lucozade
13 Sep 17#36
do you get the £150 straightaway and the £50 after?
WillPS to Lucozade
13 Sep 17#37
£150 within 28 days of switching £50 365 days after account was opened
Jaybuz
13 Sep 17#38
Is the £1750 a month just to qualify for the £50 after 12 months? Would you still be able to keep the £150?
WillPS to Jaybuz
14 Sep 17#57
You need to have an income that'll pay £1750 (after tax) to be approved.
You need to actually pay in £1750 to keep the account open (and get the £50 bonus). The £1750 doesn't need to stay there though, and HSBC Faster Payments are normally instant.
Jaybuz to WillPS
14 Sep 17#58
Ah, ok. Thanks for the info.
rooney10 to WillPS
15 Sep 17#61
Well , you need to put the amount of income requirement on the application form to be approved :wink: £1750 can be made of many payments (or the same payment) bounced back as many times as you need to reach the £1750.
WillPS to rooney10
16 Sep 17#66
Over-declaring your income on a credit application form is fraud - I really wouldn't want to risk a CIFAS marker for the sake of £200.
Dilithium
13 Sep 17#39
The reality appears to be, you need to invest with them £21,000 over the year, to receive in effect an interest rate of about 2%.
brettytopbanana to Dilithium
13 Sep 17#12
I just switched if over so that it became my every day bank account. It is not rocket science really.
chamelion to Dilithium
13 Sep 17#17
wrong. once you deposit the £1750 you can withdraw it back to wherever you want. I don't see a minimum balance requirement here...
tariq3877
13 Sep 17#40
Good if they give all the info to HMRC
M1LFHunter
13 Sep 17#42
What constitutes as... 'STAY' ? How can they ensure you stay?
amour3k
14 Sep 17#44
Good Deal/Freebie for those that can qualify.
matt3454
14 Sep 17#45
Does switching current accounts affect your credit rating?
Ferrit to matt3454
14 Sep 17#51
It would be listed as a search on your credit report as you're applying for an account, so yes it could affect your credit rating.
RobertRocks
14 Sep 17#46
What if I sign up for this one and keep it as my secondary bank account and every single month I transfer the amount required of £1750 but the next day just send it back so I'll do the same the next month :thinking:
boiteacourrier
14 Sep 17#48
Worst bank ever: 4 different password per account. Impossible to make transaction using mobile app. Bad customers service (1h by phone to increase my credit card 4 different speaker). Slow transaction update (transfer, card history). Debit card blocked on Internet without explanation (deblocked after call). Still not working with PayPal. Unable to have an IBAN without first statement. Etc...
brettytopbanana to boiteacourrier
14 Sep 17#50
Everything you have mentioned there I have never had a problem with. Strange that.
Nighthawk
14 Sep 17#52
Shame existing customers don't get offers like this.
Anon32 to Nighthawk
14 Sep 17#53
Yup i didn't get anything with tsb so moved here so long as they don't cut their regular saver then'll stay. The minute they cut my interest to pay new customers only then i'm off! Cant be arsed to kerp changing for £100 quid not worth the hassle. All banks are the same
Sukh
14 Sep 17#54
I have a regular HSBC account that i don't really use and asked about switching to advance to take up this offer. Was told i need to pay my salary into my normal HSBC bank account for three months first and then can apply for this deal (at which time it will be expired no doubt!).
The adviser also mentioned that new customers who don't bank with HSBC have to get a letter from their place of work confirming their salary will be paid into the new advance account.
rooney10 to Sukh
15 Sep 17#62
That's easy enough when you are self employed isn't it :wink:
GwanGy
14 Sep 17#55
"offered some wine and chocolates" or just some flowers if you're a Lady. Diabetics and Alcoholics SOL ... :persevere:
uk_lawyer
14 Sep 17#56
I can't see any mention of this anywhere, but with the switch, do you have to close the account you're switching from? Planning to switch from Halifax to this but would prefer to keep my Halifax open.
Snuffpig
14 Sep 17#59
I had an HSBC account last year but switched away. Could I still apply for this an be eligible for the £150?
WillPS to Snuffpig
16 Sep 17#69
No.
The offer is limited to one per customer or joint relationship on eligible HSBC Advance Bank Accounts and is only applicable to customers who are not existing HSBC current account holders on the date of application (and have not been since 1 January 2015 ). To be eligible for the HSBC Advance Bank Account you must be over 18 and pay in at least £1,750 into your account each month (or a minimum of £10,500 every six months) not including internal transfers. Applications are subject to status and internal checks.
RJ1
15 Sep 17#63
Are previous HSBC customers who have benefited from their joining incentives previously eligible? Can't find anything to suggest otherwise :smile:
rambobambo to RJ1
15 Sep 17#64
This
I am trying to find out as well
WillPS to RJ1
16 Sep 17#68
Unless you got the joining incentive before 1st Jan 2015, you are ineligible:
The offer is limited to one per customer or joint relationship on eligible HSBC Advance Bank Accounts and is only applicable to customers who are not existing HSBC current account holders on the date of application (and have not been since 1 January 2015 ). To be eligible for the HSBC Advance Bank Account you must be over 18 and pay in at least £1,750 into your account each month (or a minimum of £10,500 every six months) not including internal transfers. Applications are subject to status and internal checks.
alice12333
15 Sep 17#65
Yes I'd like to know that aswell.. i sighned up 3 weeks ago know mention of cash back . still can't log onto see the benefits page free costa drink etc..
WillPS to alice12333
16 Sep 17#67
You are not eligible - you could try asking nicely but you might be referred to condition 1
The offer is limited to one per customer or joint relationship on eligible HSBC Advance Bank Accounts and is only applicable to customers who are not existing HSBC current account holders on the date of application (and have not been since 1 January 2015 ). To be eligible for the HSBC Advance Bank Account you must be over 18 and pay in at least £1,750 into your account each month (or a minimum of £10,500 every six months) not including internal transfers. Applications are subject to status and internal checks.
littlesayers
20 Sep 17#70
It says opening this would have access to 'share the experience programme' can I get £100 from being referred and the £150 for switching?
charlespcl to littlesayers
26 Sep 17#71
In the T&C for Share the Experience Programme, it says "This offer cannot be used in conjunction with any other offer or
promotion. If there is another cash offer you qualify for at the time
of referral, you may receive the higher offer payment." So unforunately no. :cry:
alfiesred47
30 Sep 17#72
Advance is good, they have a separate team to speak to you on the phone and usually answer immediately. Also usually a UK based call centre when before, it was offshore
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Opening post
Get £200 when you switch and stay with HSBC Advance Current Account
New customers who open an HSBC Advance Bank Account will get £150 when using the Current Account Switch Service
Get an extra £50 after 12 months, just for staying with us*
Plus get a 6 month interest and fee free overdraft
To be eligible for HSBC Advance customers will need to pay in a minimum of £1,750 per month
No monthly account fee
24/7 customer service
£500 daily ATM cash withdrawals
Contactless debit card (subject to status)
5% AER/Gross with our Regular Saver*1
£250 off booking fees on our Standard mortgage range*2
Your home may be repossessed if you do not keep up repayments on your mortgage.
A minimum overdraft offer of £1000 at account opening*3
Access to HSBC Share the Experience Programme.
10% interest cashback on loans*4Representative
3.3% APR for loans between £7k‑15k over 1-5 years
Preferential Overdraft Interest
Rate*5*6Representative Example: 17.9% EAREAR is Effective Annual Rate. This takes account of the interest rate and how often interest is charged, and does not include any other fees or charges
Worldwide ATM cash withdrawals without HSBC non-sterling cash fees*7(A non-sterling transaction fee of 2.75% still applies)Additional features
Source: MSE
All comments (73)
So are we to really be surprised by the nature of your alllll with them ...
So clearly not for everyone
Its a pointless observation really.
considering the OP didn't originally state the minimum payment requirements for the account, i'd wager it wasn't that pointless.
If it was as simple and as straightforward as needing £1500 a month spare funds available then I would tend to agree with you.
However this can be achieved without the need to have vast sums of money spare and can be bounced to and from several times to achieve the minimum funding requirement. I'd assume by your post that you were unaware of this , otherwise your post would have been deliberately misleading people and I would like to think that wasn't true.
Therefore I would argue this is a deal that is available to most people that are eligible for a current account.
The Op didn't mention the funding requirement in the original post and it is a relevant piece of info , being a requirement. However this does not need to be a deal breaker as there are many ways of achieving this without having much funds available.
:wink:
In what way does 'a few hundred quid or so' equate to £1750?
e.g. £300 moved in and out of the account 6 times would cover the £1750
Not to mention the Advance debit card redesign just looks really cool :smiley_cat:
I also regularly pay in cheques and having to fill out a slip each time (regardless of if it's at the machine or the counter) is a hassle. The first time I went to pay in a cheque, I got to the front of the queue only to be told to come back once I'd completed a slip.
Online banking is awful and simple tasks like viewing direct debits cannot be done via the app.
As soon as I get my £50 after 12 months, I'll be switching back.
Pleased with the servive and security is top notch. Even if you get into my account you need to generate a number with either a dongle or your phone so no one could transfer money anyways
1) I have three current account with same bank (Barclays), 2 of which I use and last one created solely for this purpose. How do I switch just the third account?
2) Can this be done in branch or does it have to be online? (although it is more easier but dont want to encounter any issues like with Halifax)
3) I do have spare cash so could I literally go into the bank, put £1,750 and thats it? or do I need to do it in a certain way?
Thanks
People bang on about their service but apart from not having a phone menu I'm not sure I see anything to shout about.
£50 365 days after account was opened
You need to actually pay in £1750 to keep the account open (and get the £50 bonus). The £1750 doesn't need to stay there though, and HSBC Faster Payments are normally instant.
Unable to have an IBAN without first statement. Etc...
The adviser also mentioned that new customers who don't bank with HSBC have to get a letter from their place of work confirming their salary will be paid into the new advance account.
The offer is limited to one per customer or joint relationship on eligible HSBC Advance Bank Accounts and is only applicable to customers who are not existing HSBC current account holders on the date of application (and have not been since 1 January 2015 ). To be eligible for the HSBC Advance Bank Account you must be over 18 and pay in at least £1,750 into your account each month (or a minimum of £10,500 every six months) not including internal transfers. Applications are subject to status and internal checks.
I am trying to find out as well
The offer is limited to one per customer or joint relationship on eligible HSBC Advance Bank Accounts and is only applicable to customers who are not existing HSBC current account holders on the date of application (and have not been since 1 January 2015 ). To be eligible for the HSBC Advance Bank Account you must be over 18 and pay in at least £1,750 into your account each month (or a minimum of £10,500 every six months) not including internal transfers. Applications are subject to status and internal checks.
i sighned up 3 weeks ago know mention of cash back .
still can't log onto see the benefits page free costa drink etc..
The offer is limited to one per customer or joint relationship on eligible HSBC Advance Bank Accounts and is only applicable to customers who are not existing HSBC current account holders on the date of application (and have not been since 1 January 2015 ). To be eligible for the HSBC Advance Bank Account you must be over 18 and pay in at least £1,750 into your account each month (or a minimum of £10,500 every six months) not including internal transfers. Applications are subject to status and internal checks.