Eligibility criteria apply. Check terms on HSBC Bank Account's website before applying.
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HSBC Bank Account Offer Summary
Detailed Information
Switch to an HSBC Bank Account and get £220 cashback. You have to open the account in the HSBC mobile banking app – applications online, in branch or by phone don’t qualify. Then within 60 days, complete a full switch via CASS including at least two Direct Debits, pay in £2,000, and spend £500 on your debit card. The account has no monthly fee, and comes with access to HSBC savings accounts (Regular Saver and Online Bonus Saver), the home&Away discounts programme and the Global Money multi-currency account. The £220 is paid within 60 days of meeting all the criteria.
Is HSBC Bank Account Right for You?
Key Features
- Access to HSBC savings: Regular Saver and Online Bonus Saver
- home&Away discounts on shopping, dining, travel and experiences
- Global Money multi-currency account (send, spend and receive currency)
- Optional overdraft
- No monthly account fee
Things to Consider
- App-only: applications online, in branch or by phone don't qualify
- You need a £2,000 pay-in AND £500 of debit card spend within 60 days
- Excluded if you've held an HSBC UK or first direct current account since 1 January 2023
- Cashback is paid within 60 days of meeting all the criteria
Eligibility Requirements
- Open a sole Bank Account in the HSBC mobile banking app
- Complete a full CASS switch including at least 2 Direct Debits, within 60 days
- Pay in £2,000
- Spend £500 on your debit card
Always verify the current requirements on HSBC Bank Account's website before applying, as terms may change.
How the Switch Works
HSBC Bank Account uses the Current Account Switch Service (CASS), which guarantees your switch completes within 7 working days. All Direct Debits and standing orders move automatically, and payments to your old account are redirected for 3 years.
Day 1 — Apply & Request Switch
Complete your application and request the account switch via CASS.
Day 7 — Switch Completes
Direct Debits and standing orders are moved automatically. Payments to your old account are redirected.
First Month — Meet Requirements
Ensure all eligibility criteria are met, including any deposit or transaction requirements.
~Day 60 — Bonus Paid
If all criteria have been met, the switching incentive is typically processed.
Tips & Things to Watch For
Helpful Tips
- Apply in the HSBC app - applications online, in branch or by phone don't qualify for the £220.
- You need both a £2,000 pay-in and £500 of debit card spend, not just one.
- You're excluded if you've held an HSBC UK or first direct current account at any time since 1 January 2023.
- No monthly fee, and you get access to HSBC's Regular Saver and Online Bonus Saver.
Common Issues
- Applying online, in branch or by phone - only app applications qualify
- Forgetting the £500 debit card spend (it's on top of the £2,000 pay-in)
- Not realising a current account held since 1 January 2023 makes you ineligible
Need Direct Debits? If you don't have 2 active Direct Debits for the switch, you can support Scrimpr via Direct Debit (50p or £1/month) — it counts towards the requirement and helps keep this site free.
Offer History
How HSBC Bank Account's switch offer has changed over time.
| Offer | Period |
|---|---|
| £220 | Jun 2026 - present |
The Bottom Line
A solid £220 for a standard switch, as long as you're happy to apply in the app and hit the £2,000 pay-in and £500 spend. The catch most people miss: you're out if you've held an HSBC UK or first direct current account at any point since 1 January 2023.
Frequently Asked Questions
The switching incentive is only available to customers who meet all eligibility criteria. Not all applicants will qualify, and HSBC Bank Account reserves the right to decline applications or withhold bonuses if requirements are not met.
When using the Current Account Switch Service (CASS), your previous account is typically closed automatically as part of the switching process. All payments are redirected to your new account for a minimum period of 3 years.
The Current Account Switch Service (CASS) guarantees completion within 7 working days. This includes moving your Direct Debits and standing orders.
Most switching offers have eligibility restrictions for previous customers. Check the specific terms and conditions on HSBC Bank Account's website, as you may be excluded if you've held an account with them recently.
Opening a bank account typically involves a credit check. While a single application usually has minimal impact, multiple applications in a short period may affect your credit profile. If you're planning to apply for credit soon, consider the timing carefully.
Direct link to HSBC Bank Account. Scrimpr earns no commission from this link and isn't endorsed by HSBC Bank Account. Eligibility criteria and terms apply. Not all applicants will qualify. HSBC Bank Account is regulated by the FCA (Register: 765112).
This page is for guidance only and does not constitute financial advice. Offers are subject to availability and may be withdrawn at any time. Always verify current terms directly with HSBC Bank Account.
User Experiences
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