HSBC Advance

Hi

I have an HSBC Advance Account, which I pay for monthly.

The last few weeks an avalanche of Emails which have reduced the benefits massively.

It is only worth keeping for the Travel Insurance, after that, not worth it.

Re: HSBC Advance

Yep, banks are really turning the screws now Swim.
I keep getting emails from my bank telling me how much the interest rate is diminishing....It won't be long before I'm paying them to look after my money. When that time comes I'll draw it all out and keep it under the floorboards....

I've been wondering if buying gold isn't the way to go?

Re: HSBC Advance

NS&I are offering the top rate at the moment .

1% in their direct saver
1.15% in their income bonds

I should watch that travel insurance Swims if you go abroad to a country that is listed as unsafe ie Spain it will be null and void

Re: HSBC Advance

Never quite sure how you buy physical gold other than as a necklace .

Krugerands used to be a way you will have to keep them under the floorboards too - don’t trust banks they lose stuff !

I have some money in Blackrock Gold and General Fund which has gone up in the last few months - in fact 40% since April . It invests in gold mining companies

However funds can go down as well as up and gold mines are notoriously volatile.

It’s a gamble

Re: HSBC Advance

Thanks Muddy, I shall chase that one up for future investment...I'll wait until the price drops.....

Re: HSBC Advance

There was an article on this in today’s mail

https://www.dailymail.co.uk/money/in...s-bullion.html

Re: HSBC Advance

Thanks Muddy very interesting. I think coins are the way to go instead of bonds or shares, I'd rather have the shiny stuff in my hands but not confident about storage......Perhaps a safe in the floor......Oh bugger! now everyone will know where I keep them....