{"id":108404,"date":"2026-08-21T20:32:18","date_gmt":"2026-08-21T20:32:18","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/108404\/"},"modified":"2026-08-21T20:32:18","modified_gmt":"2026-08-21T20:32:18","slug":"hsbc-hands-customers-free-220-with-bonus-on-top-personal-finance-finance","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/108404\/","title":{"rendered":"HSBC hands customers free \u00a3220 with bonus on top | Personal Finance | Finance"},"content":{"rendered":"

HSBC<\/a> offers customers who switch to one of their current accounts a \u00a3220 cash boost, and access to a 5% regular saver offering bonus interest on top. Many people open current accounts<\/a> in their youth and stay with their bank for years – and sometimes decades – purely to avoid the hassle of switching.<\/p>\n

Banks are therefore keen to make switching to their accounts and gaining new customers as seamless as possible, whilst providing financial incentives for doing so. This week, MoneySavingExpert.com<\/a>, the personal finance website founded by Martin Lewis<\/a>, shared a list of the latest cash rewards for switching in its Money Tips Email.<\/p>\n

Among the offers it singled out is the reward for switching to an HSBC Bank Account from another bank.<\/p>\n

According to HSBC’s website it’s available to those “opening an HSBC UK Bank Account<\/a> via the HSBC UK app, subject to meeting the eligibility criteria”.<\/p>\n

To get the \u00a3220 switching offer, customers must meet various requirements within 60 days of opening their account. This includes:<\/p>\n

Completing a full switch using the Current Account Switch Service (CASS) to transfer their everyday banking, including at least two direct debitsDepositing a minimum of \u00a32,000 into their accountSpending \u00a3500 using a debit card linked to the account<\/p>\n

The \u00a32,000 doesn’t have to be deposited all at once, only within the 60 days. The account is fee free, though you won’t be able to switch a joint account over, MSE explains.<\/p>\n

If you have an HSBC current account, you’re then able to open a separate regular saver account which has a 5% interest rate<\/a> on up to \u00a3250 per month for a year.<\/p>\n

MSE notes that there are other regular saver options on that offer higher returns. There are currently alternatives on the market offering rates of up to around 8%.<\/p>\n

The website identified HSBC’s \u00a3220 account switching bonus as a “top payer” among some of the leading providers, but there are a number of other options available.<\/p>\n

You can find out more about the terms of HSBS’s switching offer on their website.<\/p>\n","protected":false},"excerpt":{"rendered":"HSBC offers customers who switch to one of their current accounts a \u00a3220 cash boost, and access to…\n","protected":false},"author":2,"featured_media":108405,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[20667],"tags":[44884,44882,23930,9881,2150,29937,44885,44883],"class_list":["post-108404","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hsbc","tag-account-switching","tag-bank-switching","tag-cash-incentive","tag-hsbc","tag-martin-lewis","tag-money-saving-expert","tag-moneysavingexpert-com","tag-u00a3220-cash-boost"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/117135405687311887","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/108404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=108404"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/108404\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/108405"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=108404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=108404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=108404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}