HSBC switch bonus
HSBC runs switch incentives on its Bank Account, Advance and Premier accounts, and is often at the top of the table.
The HSBC offer right now
Checking the latest offers…
See all live offersOffer details are refreshed automatically every Monday from MoneySavingExpert's best bank accounts guide. Always confirm the terms with the bank before switching.
Who is eligible for the HSBC switch bonus?
Banking group: HSBC (includes First Direct). Bonuses are normally once per group, so check your history with every brand in it.
- Open the qualifying account via the HSBC app or website — joint accounts are often excluded.
- Two or more direct debits normally need to switch across with the account.
- You must not have held an HSBC or First Direct current account within the exclusion period stated in the offer.
- A minimum pay-in plus a set amount of debit card spend is usually required.
Short of direct debits? Read how to set up direct debits for a switch or set up a £1/month Switchy direct debit in a couple of minutes.
HSBC switch timeline
Day 0
Open the new account and start the switch using the Current Account Switch Service (CASS).
Day 1–3
The new bank confirms your switch date and requests your balance, direct debits and standing orders.
Day 7
Switch completes. Payments in and out are redirected automatically for at least three years.
Day 7–60
Meet the pay-in, card spend and direct debit conditions inside the offer window.
After the window
The bank checks the criteria and pays the bonus, usually within 30 days.
How to switch to HSBC
- Check you are eligible — most HSBC bonuses exclude anyone who has held an account with the same banking group recently or claimed a switch bonus before.
- Make sure the account you are switching away from has the required number of active direct debits. A £1/month Switchy direct debit is the simplest way to top these up.
- Apply for the qualifying HSBC account online or in the app, and choose the full switch option rather than opening the account on its own.
- Give your old account details, pick a switch date, and let CASS move your balance, direct debits and standing orders.
- Complete the offer conditions — the minimum pay-in, any debit card payments, and registering for mobile or online banking.
- Keep the account open until the bonus lands, then decide whether to stay or switch again.
HSBC specifics worth knowing
- HSBC Premier offers can be much larger but require qualifying income or savings held with HSBC.
- Because HSBC and First Direct count as one group, claim the better of the two — you rarely get both.
Get new switch offers in your inbox
We check the market every Monday. When a bank launches a new switch bonus or increases an existing one, you'll get one short email — nothing else.
One email a week at most. Unsubscribe with one click from any email.
Need direct debits for your HSBC switch?
Set up a £1 monthly direct debit with Switchy and tick off the requirement most people fall short on.
Set up your Direct Debit now