13 April 2022

HSBC UK offer helps advance towards £300 in cash

HSBC UK is launching two separate offers that could see those switching to an Advance current account with the bank benefitting to the tune of almost £300.

The bank is introducing an exclusive current account switch offer worth £175, for those who apply through the MoneySuperMarket or MoneySavingExpert websites. This offer is available alongside 6 months’ cashback on HSBC UK’s innovative ‘mix and match’ insurance offer, Select and Cover worth £117.

The current account switch offer is available until 29th April 2022. The Select and Cover cashback offer is available until 5th July 2022.

Tom Wolfenden, HSBC UK’s Head of Retail, said: “Our popular switching offer has returned, and for a limited time, exclusively for those applying through MoneySuperMarket and MoneySavingExpert, customers who are switching their current account to us will receive £175 in cash. With a potential additional £117 cashback when taking out Select and Cover insurance, customers can be almost £300 better off by switching to HSBC UK.

“With the cost of living seemingly increasing by the week, the cash benefits of these offers could be very welcome. With the cost of Select and Cover insurance comparing favourably against standalone policies, ongoing savings can be made on important insurance like mobile phone, car breakdown or worldwide travel insurance, potentially saving over £635 for equivalent or better cover”.

Select and Cover is a pay monthly service and customers can cancel at any time without penalty. Each policy covers the policy holder, their spouse, domestic or civil partner and their children.

Media enquiries to:

Email: UKPressOffice@hsbc.co.uk

Note to editors:

  1. Open an HSBC Advance Account via MoneySuperMarket.com or MoneySavingsExpert.com only, within 30 days use the Current Account Switch Service to switch (with 2+ Direct Debits / standing orders) and in 60 days pay + £1,500 into the account. Once eligible, we’ll pay £175 into your account within 30 days. Offer for new customers who haven’t held an HSBC current account or opened a first direct current account since 1 January 2019. To be eligible for an HSBC Advance Account, you’ll need to be approved for £1,000+ arranged overdraft. Further offer and account T&Cs apply.
  2. To claim the £175 current account switch offer, open an HSBC Advance Account as a new customer through MoneySuperMarket or MoneySavingExpert websites. Then, within 30 days use the Current Account Switch Service to switch from the old bank (with at least 2 Direct Debits or standing orders) and within 60 days pay at least £1,500 into the account. Once the eligibility criteria has been satisfied, £175 will be deposited into the account.
  3. Select and Cover is available to HSBC UK customers who hold at least one of the following products: a bank, savings, mortgage or credit card account. It includes the following products: Travel insurance, Gadget insurance, Mobile phone insurance, Home Emergency and Excess insurance, Motor Breakdown cover and Starter Life insurance.
  4. The Select and Cover offer is to provide new HSBC UK Advance account holders with cashback equivalent to 6 months’ premium for a Policy with 3 insurance options, worth £117. A new Select and Cover policy must be taken out within 60 days of opening the Advance account. Payment of the Cashback reward will be made after payment for the 6 month premium have been received, provided the premium has been paid in full for the first 6 months without any break or lapse, and have otherwise acted in accordance with these terms and conditions.
  5. Select and Cover pricing options:

    Three Options: £19.50 a month (£234 a year)
    Four Options: £26.00 a month (£312 a year)
    Five Options: £32.50 a month (£390 a year)
    Six Options: £39.00 a month (£468 a year)
    Seven Options: £45.50 a month (£546 a year)

One example of savings that can be made with Select And Cover vs purchasing individual policies:

Policy HSBC Select And Cover including Travel, Mobile and Motor Breakdown Post Office – Premier Cover Travel Insurance Mobile - Protect Your Bubble (3 gadgets inc loss) Motor Breakdown – AA Family breakdown cover
Annual Price £234 £364.37 £245.88 £259
Saving per year (£364.37 + £245.88 + £259) £869.25 - £234 = £635.25 saving

Mobile Phone: Cover at a glance:

  • accidental damage, breakdown, loss and theft including accessories
  • covers all the mobile phones in your household
  • replacement provided with warranty
  • unauthorised use of calls, texts and mobile data
  • up to 4 claims per year

Gadget: Cover at a glance:

  • accidental damage, breakdown, loss and theft including accessories
  • covers tablets, laptops, netbooks, eReaders, headphones and wireless speakers
  • plus, cameras, smart watches, fitness trackers and portable game consoles
  • up to 4 claims per year

Worldwide Travel: Cover at a glance:

  • emergency medical treatment for illness or injuries
  • missed departures, flight delays and cancelled trips
  • lost or damaged baggage, including golfing and winter sports equipment
  • cover up to the age of 70

Motor Breakdown: Cover at a glance:

  • comprehensive service with vehicle repairs both at home and the roadside
  • includes European cover
  • transport home or to another UK destination
  • transport includes you, the vehicle and up to 7 passengers

Home Emergency: Cover at a glance:

  • emergency repairs available 24 hours a day
  • boiler and heating system repairs
  • plumbing, drainage and electrical emergencies
  • damage to roofing, external windows and doors
  • pest infestations r

Starter Life: Cover at a glance:

  • £15,000 lump sum payment if you or your partner were to die
  • £5,000 lump sum payment if your child was to die
  • maximum age is 50; applies to children under 18, or 23 if in full-time education
  • pre-existing conditions not covered for the first 12 months


HSBC UK serves over 14.75 million customers across the UK, supported by 24,000 colleagues. HSBC UK offers a complete range of retail banking and wealth management to personal and private banking customers, as well as commercial banking for small to medium businesses and large corporates.

HSBC Holdings plc

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, the Middle East and North Africa. With assets of US$2,958 billion at 31 December 2021, HSBC is one of the world’s largest banking and financial services organisations.