Nah should be fine, I mean in the unlikely event they didn’t collect the funds you’d have paid more than you needed to but that’s probably very unlikely. The available balance would decrease straight away when making the purchase and would go back up again not long after you make a payment to it.
Not sure if all credit cards allow that but every one I have (which is quite a lot) does, apart from M&S bank where I get an SMS saying the receiving bank couldn’t accept the payment (which is odd as M&S bank is run by HSBC). Any other card I want to make a payment to straight away though it just resets the available balance and shows both transactions when they clear.
You won’t be able to using “transfer between accounts”. It will stop you from paying more than the cleared balance. Same with HSBC.
Workaround is to add their sort code and account number as a new payee manually and then pay it as though it’s an external account. This bypasses their checks and they will accept the payment.
Or… just move to a card product that meets your personal needs around visibility of spend
Haha fair enough, you are right. However, sometimes I’ve been in situations where I would be charged the wrong amount (e.g. not properly looking at the card machine before tapping) and receiving a notification/ being able to see the pending transactions, I can quickly confirm and rectify with the retailer. Do FD credit card purchases trigger a notification?
This doesn’t work all the time, from FD anyway. I have sometimes received messages in the app stating the payment cannot be made. I’ll take a screenshot if I get the message again.
You, normally, need to let it catchup, at least with HSBC and I’d imagine it’s the same. Normally I’ll let it do its magic track of disappearing and reappearing and go to sleep, paying it off the day after (HSBC).
Doesn’t seem to ever let you pay it off any sooner than this.
Tried again this morning to make a payment now that the transactions are showing. Still can’t. live chat said I can only make a payment during banking hours.
I’d probably use a debit card instead of doing what you do, however, we all manage our finances in different ways so each to their own.
As others have said, no credit card notifications, only for the debit card and even then it seems to be a mixed bag in terms of reliability.
I always get a receipt anyway, and it proves my payment/purchase (such as if you get stopped in a supermarket on the way out) and also any mistakes can be rectified there and then.
The Italians have it right - you are presented with a receipt for pretty much everything you purchase. Up to you to do with it as you so please. We are very lax in this country on this front.
Asked First Direct if closing an account and credit card with HSBC in the last few months would impact applying with them and got the following:
"Hi.
Yes you would need to give us a call on 03456 100 100 to apply for a current account.
If agreed and once the current account is up and running you can then apply for a credit card online. first direct are a bank in our own right, part of the HSBC group.
Closing a current account and credit card, doesn’t affect applying to us. It is fine to have accounts and products with both banks."
Interesting. So I suppose you can be a different bank but use the same banking license?
It says this on the bottom of the first direct home page:
Your eligible deposits with HSBC UK Bank plc are protected up to a total of £85,000 or up to £170,000 for joint accounts, by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.
This limit is applied to the total of any deposits you have with the following: HSBC UK Bank plc and first direct. Any total deposits you hold above the limit between these brands are unlikely to be covered.
I think it would be this, the way they operate in terms of their procedures, underwriting, service approaches, marketing, branding, style, tone of voice etc would be different to HSBC. Infrastructure wise, they are closely more intertwined with the group parent company.
1 Like
Doug_hboy
(Always be alert because the World always needs lerts.)
2403
Had this debate before with FD. They’re separate banks but also part of HSBC when it suits. In the past I’ve been contacted by HSBC’s offshore Fraud Dept to allow a payment to go through.
