HSBC – £220 Switch Bonus

Overview

HSBC is paying new customers £220 to switch to a fee-free HSBC Bank Account. It's a standard CASS switch you start in the HSBC UK app — no Premier account or £100k income needed.

How to Claim

1. Click the link on this page, then open a sole HSBC Bank Account in the HSBC UK app (it must be opened in-app — online, branch or phone applications don't qualify).
2. Within 60 days, complete a full switch using the Current Account Switch Service (CASS), bringing across at least 2 Direct Debits.
3. Pay in £2,000 and make £500 of debit-card spend within the same 60 days.
4. HSBC pays the £220 within 60 days of you meeting all the criteria.

Requirements

• New sole HSBC Bank Account opened via the HSBC UK app (Basic Bank Account and Premier don't qualify)
• Full CASS switch within 60 days, bringing 2+ Direct Debits
• £2,000 paid in + £500 debit-card spend within 60 days
• UK resident, new to HSBC

Important Terms

• New customers only — excluded if you're already an HSBC UK or First Direct customer, or have opened an HSBC UK or First Direct current account on or after 1 January 2023.
• The £2,000 can be several deposits and doesn't have to stay in the account. Cash withdrawals, gambling, credit card or insurance payments, card-to-card payments and refunded transactions don't count towards the £500 spend.
• The account must be opened in the HSBC UK app — other channels don't qualify.
• HSBC can withdraw the offer at any time; no fixed end date has been announced.

Tips

• Use a fresh Chase burner as the switch source so your main account is untouched.
• Set up the 2 Direct Debits and let at least one collect before starting the switch.
• HSBC and First Direct are the same banking group — claiming one blocks the other, so take the higher HSBC £220 unless you specifically want First Direct.