Earn £125 By Switching To A HSBC Current Account | moneyfacts.co.uk

Derin Clark

Derin Clark

Online Reporter
Published: 15/09/2020

After stopping its switching incentive six months ago, HSBC has relaunched its current account switching offer today and customers can now earn £125 simply by switching to a HSBC Premier or Advance current account.

In order to receive the money, applicants must not be a HSBC current account holder on the date of application and have not been on or after 1 January 2017. As well as this, the offer is only available to new customers who apply and start a full switch using the Current Account Switch Service (CASS), including a minimum of two direct debits and/or stand orders, within 30 days of the date of the account being opened.

Those looking to open a HSBC UK Advance Account must have a minimum £1,000 arranged overdraft and paying at least £1,750 into the account each month, or a minimum of £10,500 every six months.

To open a HSBC Premier Bank Account applicants must have an individual annual income of at least £75,000 and either a mortgage, an investment, life insurance or a protection product with HSBC, or within six months, have savings or investments of at least £50,000 with the bank.

Commenting on the relaunch of the offer, Fiona McCaffrey, HSBC UK’s head of Everyday Banking, said: “In what has been a difficult year we are pleased to welcome new customers who switch to our HSBC Advance and HSBC Premier accounts with our latest £125 switcher offer. The initial lockdown really gave people time to think about friends, family and finances amongst other things and our cash incentive of £125 will provide a welcome start to what will hopefully be a long relationship with HSBC UK.”

Other switching offers

Over the last month a number of banks have launched switching offers that enable consumers to earn money by switching bank accounts. The current ones on offer are:

  • Royal Bank of Scotland – new and existing customers can earn £100 by switching to a Select, Reward, Premier Select and Premier Reward account
  • Metro Bank – customers can earn £50 for each friend referred to the bank up to a maximum of five people (£250)
  • Lloyds Bank offer £100 when switching to its Club Lloyds and Platinum with Club Lloyds accounts

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.


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