HSBC Regular Saver

HSBC are to increase the interest rate on their Regular Saver to 5% on 1 December for both new and existing accounts


Good to see, however, I already have four at that rate or greater.

Plus First Direct after Thursday too (currently 3.5%)

No fresh money left to take on more.

I wonder if other providers will react to this positively.

I’ll sit on my hands for a bit and see.

I just opened a HSBC Regular Saver. It was opened, funded and showed online immediately as did the monthly standing order.

HSBC have obviously worked on their back end systems. Opening a Global Money Account was equally as quick.

It was this quick back in 2019 when I opened one.

It’s the “joining as a new customer” or “first current account” cases where applications take forever.

Yes, but it also used to take a while for regular savers to be set up for existing customers as well

Seems HSBC have automated whatever manual element used to be part of the progress.

Just opened and funded one in minutes too.

Quick, smooth process.