HSBC UK launches £250 switching reward to attract new Premier customers
From 23 March 2026 onwards, eligible customers can receive £250 cashback when they switch their current account to HSBC Premier using the Current Account Switch Service (CASS) and meet the account eligibility criteria*.
Customers can qualify for the reward by paying in an annual personal salary of £100,000 or more, or by opening a Premier account and maintaining £100,000 or more in savings and investments with HSBC UK.
Carl Watchorn, Head of Premier Banking at HSBC UK said:
“HSBC Premier is built to deliver real, ongoing value for our customers, not just a place to hold your money. This introductory incentive is a simple way to experience that value from day one, alongside a range of benefits designed to support how our customers live, bank, and grow their wealth over time.”
The launch forms part of HSBC UK’s broader efforts to support customers in growing and managing their wealth. Earlier this month, the bank introduced a new ISA incentive designed to encourage savers to make the most of their annual tax-free allowance and build long-term financial resilience. This means that new customers could earn up to £750 in cashback, if they combine both offers.
Together, these initiatives highlight HSBC UK’s focus on helping customers save, invest and build wealth, whether through competitive savings products or tailored banking services for higher-income households.
Beyond the incentive, HSBC UK Premier is a full-service banking proposition designed to help you maximise your financial portfolio, whether that is through preferential ISA and savings rates or guidance when diversifying your investments.
Premier customers also have exclusive access to a range of perks, including global account access, travel and lifestyle benefits, and exclusive rewards:
Premier Health:
- Gain a range of health benefits and services, provided by Square Health (Individual terms and conditions apply)
- Access digital GP appointments, mental health support, plus second opinions for you and your family
Premier Travel, International and Lifestyle:
- Free worldwide travel insurance remains in place for the whole family and includes cover for dependents traveling with you up to age 23.
- Preferential rates on foreign exchange and international payments.
- Customers also have access to a range of new Premier offers in the rewards and benefits hub in the HSBC mobile app. (Individual T&Cs apply)
Premier Wealth:
- Plan for your future with support from a team of wealth specialists (fees and eligibility apply)
- Benefit from a range of preferential rates on loans, mortgages and savings
- An even more premium service: the HSBC UK Premier team are now here to help 24/7 via chat or telephone, while eligible customers also have access to relationship management, tiered according to their level of investments.
The £250 Premier welcome reward offer will be available from 23 March 2026.
- *Eligibility criteria and terms apply:
What is the Premier Welcome Reward offer?
- Get a £250 reward when you switch your current account using CASS to an HSBC UK Premier Bank Account and pay in your annual personal salary of £100,000+. Typically, this means paying in at least £5,100 monthly.
- You can also qualify for the £250 reward by opening an HSBC UK Premier Bank Account and depositing and maintaining £100,000 or more in savings and investments with HSBC UK.
- These terms and conditions lay out the full eligibility criteria for this offer. By taking part in the Premier Welcome Reward offer, you’re agreeing to these terms and conditions.
How do I qualify for this offer?
- Be a UK resident, aged 18 or over.
- Open an HSBC UK Premier Bank Account (“Premier Account”) on or after 23 March 2026 and before this offer is withdrawn.
- Within 90 days of account opening, qualify for Premier by either:
- Completing a full switch to your Premier Account from an existing current account using the CASS switch service, including paying in an individual annual salary of £100,000+; typically, this means paying in at least £5,100 monthly, or
- Depositing and maintaining £100,000 or more in savings and investments with HSBC UK
To keep your Premier Bank account, you will need to continue to meet the account eligibility criteria. If you no longer qualify, we may need to review your account status.
For more information about the HSBC Premier Bank Account, including the eligibility criteria, visit hsbc.co.uk/premier.
You don’t qualify if:
- You’re an existing HSBC UK or first direct current account holder or have held a HSBC UK or first direct account on or after 1 January 2025.
- You only qualify for a Premier Account by being an HSBC staff member.
How and when will I be paid?
- After meeting the offer criteria, the cash reward will be paid in GBP into your new Premier Account within 70 days of you qualifying.
- This offer is valid once per person.
- If you have a Joint Account (either a joint current account or joint savings/investments), you can only get one welcome bonus per account, not one each.
- The reward will only be paid if you remain an eligible Premier Account customer with an open account that is not restricted or suspended at the time of the reward.
When can we end the offer?
HSBC UK may end this offer without prior written notice at any time.
If we do this, and you’ve already requested a switch, you’ll still get this offer if you meet all the requirements.
Your Personal Data
HSBC, its group companies, and its authorised third parties will only use your personal data provided in relation to the offer for the purposes of administering the offer reward. Your data will be treated in accordance with our Privacy Notice.
What else do I need to know?
- HSBC UK Bank plc (“HSBC”, “we”, “us”, or “our”) is the promoter of this offer.
- We’re not responsible for any loss or damage you incur by taking part in the offer unless the loss or damage is caused by our negligence.
- We can change these terms and conditions or cancel the offer without telling you in advance if:
- Required by law; or
- There are reasons beyond our control; or
- There’s a fair or valid reason.
- In the event of any changes or cancellation of the offer, we will not be held responsible for any resulting loss, direct or indirect, due to the inability to continue the offer as planned.
- If you receive the reward, then this may be reportable to HMRC, and you are responsible for any tax liabilities. We do not provide tax advice, please speak to a tax advisor if needed.
- The offer is intended for individuals participating in good faith, a genuine way and for lawful purposes. If HSBC reasonably believes you’ve acted in a way that is suspicious or fraudulent, such as trying to abuse the offer, HSBC may choose not to pay the reward and may suspend your account.
- These terms and conditions are governed by English law, and claims can be brought in courts in the United Kingdom.