Help- HSBC account.

13

I don't quite understand how the account works. So you have your Student account and you have your Flexible Savers account. In which account do you keep your money? What's the difference between them? And how do you transfer your money from one account to another (online)?
Thanks.

Reply 1

graveyarddreams

OP

13

Ok thanks a lot. So you can't take money straight out of the savers account, you'll have to transfer it to the other one? I wonder what if all your money is in your savers account, and you withdraw some cash? Does it come from your savers then? Yeah i'm considering starting another account with a different bank.

Reply 2

loopymeg

13

You keep money in the current account to pay for daily costs and bills. You keep any savings in the savings account, and only transfer money out of it if you need to spend some of your savings. You could set up some form of savings account (not an ISA) to keep the bulk of your money in and transfer small amounts to your current account for living costs, and this would then earn you a bit of extra interest, but not much.

Reply 3

General Mullet

Keep the bulk of your money in the Flexible Saver and transfer money into your current account when you need it. The best way to do this is online so make sure you have your online banking set up.

Personally I never keep large amounts of money in my current account for security reasons. The Flexible saver has a better rate of interest too.

If you try to withdraw large sums from your current account you will go overdrawn - It will not come out of your savings.

I've always found HSBC's online facility flawless but their customer service leaves something to be desired.

Reply 4

graveyarddreams

OP

13

Thanks for the help. I get it now.
I paid in some money yesterday, and it didn't come up when i checked my account online. Is this normal? Does it take a while? Last time i paid in some money, it came up straight away.