Get £500 for switching your current account to HSBC Premier

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• Daniel says:

  1 Jun1 June 05:04

  These ET flights tend to book into P, which won’t earn in many programs. They’ll earn in UA and ET, though for example. They won’t in TK.

  • Throwawayname says:

    1 Jun1 June 10:36

    No earnings with Miles and more or Aegean either.

• captein says:

  1 Jun1 June 05:27

  Note that there seem to be some more stringent terms attached to the HSBC offer, for example: “Your salary payment must be paid directly from your employer via BACS Direct Credit and be equivalent to an individual annual salary of £100k+.”.

  It also talks about maintaining it. So it seems self-employment (unless you pay yourself with BACS), is technically not allowed.

  Not sure what HSBC will do in practice though, but seems they’re trying to clamp down with this offer.

  I already have HSBC Premier sadly, but regardless it left me wondering, how does one effectively use a Selfridges gift card of this size if one does not normally shop there. What’s reasonably priced there? Technology? Or some way to convert it to another shop?

  • Daniel says:

    1 Jun1 June 05:35

    Technology is the best use.

    And yes, I’m wondering on the self-employment piece too especially as it tends to be a fairly ……… minimal salary, with a once or twice a year dividend payment.

  • Lumma says:

    1 Jun1 June 05:46

    Selfridges, technology is likely to be something that is priced the same as elsewhere. A pair of trainers from a regular brand too.

  • Ian says:

    1 Jun1 June 06:22

    I would have thought that dividends would be very common for many of their clients. So whilst this might be true for the offer, I am not sure it is for the account.

    With bacs they can see the regular payments as opposed to dividends which might come in an irregular pattern and probably towards the end of the company financial year.

    The salary has also risen in the last year, but not heard of anyone kicked out.

    • John says:

      1 Jun1 June 08:58

      Or put £100k of investments with them? Or get it in another country

  • Tony says:

    1 Jun1 June 15:36

    My employer uses faster payment for payroll for some reason not BACS and HSBC has never raised an issue with me. In any event its clear its a salary payment. I actually also have the Barclays premier account and just transfer 5K monthly to Barclays and send most of it back and barclays has never queried that either or tried charging me.

• Lumma says:

  1 Jun1 June 05:50

  If you have a student loan to repay, your net pay will be significantly less than £70k a year on £100k a year, paying about £600 a month towards it.

  • Tony says:

    1 Jun1 June 07:02

    Likewise any pension contribution which would reduce net pay significantly below £70k…

    • Lumma says:

      1 Jun1 June 07:48

      Exactly. You want to avoid earning over £100k if possible to not start to lose your personal allowance, so any salary sacrifice schemes that can reduce your pay below that should be utilised if possible

      • ee says:

        1 Jun1 June 10:10

        Exactly this – I’m in a similar situation and net going into my account is about £60k.

        Also – what do they count as income? My salary is very marginally beneath the threshold, but with bonus and investment income I’m comfortably over.

  • Chris says:

    1 Jun1 June 10:35

    You’ll lose another £3200 in tax off a £100k salary if you have the luxury of living in Scotland

• pauldb says:

  1 Jun1 June 07:09

  Could you know be asked for a yellow fever vaccine/cert if you arrive in South Africa from Ethiopia?

• Mark says:

  1 Jun1 June 07:51

  I currently have the Barclays premier account with the Avios rewards switched on and the Avios reward Mastercard. Is it possible to keep the Mastercard open and still be able to use it in the app etc even if I switch the Barclays premier account to HSBC?

  • Scotsman says:

    1 Jun1 June 08:03

    The Barclays avios card is not linked to maintaining an account with them, so you’ll keep it no problem. If it’s the paid version, you’ll lose the £5 discount if you close your Barclays current account.

    You’ll still manage the card through the app if already registered on it.

  • Daniel says:

    1 Jun1 June 08:25

    Probably yes but would it not make more sense to open a “burner” c/a with another provider, add 2 DDs then switch this to HSBC. You can then continue to earn 1500 Avios a month from Barclays.

    • JDB says:

      1 Jun1 June 08:35

      You need to switch your salary as well, so just 2 DDs from a ‘burner’ account shouldn’t trigger the switch bonus.

      • Daniel says:

        1 Jun1 June 09:34

        But if you pay yourself via a ltd company then switch it to HSBC and transfer out the next day to your main account.

  • Simon says:

    1 Jun1 June 14:28

    I transfer ~£3,500 in to the Barclays Premier account every month and then transfer it back out again a few weeks later. They don’t appear to have the same requirement as HSBC to receive your salary directly from your employer. It’s not been an issue for me so far and I’ve been doing this since day one of the account.

• Daniel says:

  1 Jun1 June 08:26

  So if I pay myself via Faster Payments this means I will not be entitled to the reward?

  Is BACS Direct Credit different to a manual BACS payment?

• Geek says:

  1 Jun1 June 08:49

  How is the customer service with Lloyd’s and the banking app?

  I’ve found Barclays Premier absolutely terrible – I joined with the Avios offer and have always regretted – app is antiquated, live chat connects you with someone who can’t help and when I’ve needed to call on two occasions it’s basically a regular call centre.

  I was considering returning to First Direct (I know a Lloyds subsidiary) but now I may move here…

  • Geek says:

    1 Jun1 June 09:08

    Sorry I literally hadn’t had morning coffee – I meant to type HSBC not Lloyds 🙄

    • Scotsman says:

      1 Jun1 June 09:35

      The HSBC app is ok and generally more functional than the Barclays app, but ironically I think the Lloyds app is the best of the three and of all the Legacy banks. They just refreshed the HSBC app go it looks and feels slicker.

      HSBC premier have a dedicated phone line which I really have waited on to get connected and 80% they solve my issue on the first call (usually when it to do with missing points from the premier elite credit card, you need to call another dept or someone will call back).

      • Scotsman says:

        1 Jun1 June 09:37

        Sorry for typos, I took have not had my coffee..

        “HSBC premier have a dedicated phone line which I *rarely* have waited on to get connected’

• HampshireHog says:

  1 Jun1 June 08:52

  No, first direct is owned by HSBC

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