1 July 2021

HSBC UK’s latest switch offer: £100 cash for new investors

HSBC UK customers wishing to make the most of their lockdown savings can receive £100 cashback when they open an investment account1, the bank announced today. This is in addition to HSBC UK’s existing cash offer of £125 to new customers when they switch to an Advance or Premier bank account using the Current Account Switch Service2.

To be eligible for the £100 cashback offer customers must open a Global Investment Centre (GIC) account and invest a minimum of £4,000 within 30 days. GIC accounts can only be opened by HSBC UK customers who hold one of our current accounts or a Flexible Saver account.

Customers can choose from five different ways to invest, from personalised regulated advice on ready-made portfolios, to non-advised access to our full range of over 450 funds including index trackers.3

For those who want to invest sustainably, there is a range of five fund portolios which aim to invest more in companies with a higher ESG score average and a lower carbon footprint than the market.

James Hewitson, Head of Wealth Management at HSBC UK, said: “Over £200 billion has been saved since lockdown began4. While we’re all eager to spend now restrictions are lifting, consumers should also consider making their money work harder for them.

“If you have an emergency fund of 3-6 months of living costs and can afford to put away at least £50 a month, then investing can really help you grow your money. To help you get started we will provide £100 cash just in time for summer. This could be used towards a long-overdue trip to see a friend or relative, a meal out at your favourite restaurant, or even set aside for a rainy day.”

In addition to the offers above, customers who switch to HSBC UK could enjoy benefits including:

  • A 3-month baking subscription, a tracking device for your keys and wallet, or a £40 Argos eGift Card when you take out our innovative Select and Cover insurance – which allows customers to pick and mix different types of cover including travel, mobile and motor breakdown, to protect the people and things they love, all under one policy5. Select and Cover travel insurance was recently recognised by Which? as one of only two providers offering ‘Complete’ COVID-19 cover.
  • Savings on shopping through HSBC UK’s ‘Home And Away’ offers site, with popular offers including Costa Coffee, ASOS, Not On The High Street, plus discounted cinema and theatre tickets6.

Novice investors can get help and support 7 days a week from our UK-based team via Live Chat on My Investment. Arount two thirds (62%) of My Investment users are first time investors, the majority of which are aged between 18-29.

For more information visit: https://www.hsbc.co.uk/investments/

Media enquiries to:

Hannah Langston, HSBC UK Press Office: hannah.langston@hsbc.com

The latest news and updates, visit the HSBC UK newsroom:

Notes to Editors

1 To be eligible for the offer customers must not hold an existing GIC account or had a GIC account that was closed or terminated within 18 months from the date of opening a new account. Customers must invest at least £4000 in a GIC account within 30 days from the account opening date. Any investment made more than 30 days after the account opening date will not be eligible for the cash incentive.
Subject to the customer meeting the Cash Incentive eligibility criteria, HSBC UK will make a payment of £100 within 60 days of the opening date of the GIC account.
Offer may be withdrawn anytime. T&Cs apply.

2New to bank customers must not be an HSBC current account holder on the date of application and have not been on or after 1 January 2018. This offer isn’t available to customers who have opened a first direct account since 1 January 2018 and customers must use the Current Account Switch Service to complete a full switch within 30 days of account opening with minimum 2 Direct Debits / Standing Orders. Offer may be withdrawn anytime. T&Cs apply.

Conditions for an HSBC UK Advance Account include qualifying for a minimum £1,000 arranged overdraft, paying at least £1,750 a month into the account each month, or a minimum of £10,500 every 6 months. This does not include money transferred from any other sole or joint personal accounts held with HSBC UK Bank.

Conditions for an HSBC UK Premier Account include having an individual annual income of at least £75,000 and one of the following with HSBC UK: a mortgage, an investment, life insurance or a protection product; or within 6 months, having savings or investments of at least £50,000 with HSBC UK.

3Customers can open a GIC account through one of the following five routes:

  • Ready-made portfolios This allows you to choose from a selection of 5 HSBC Global Strategy Portfolios which have different risk ratings.
  • Sustainable portfolios This allows you to choose from a selection of 5 HSBC Global Sustainable Portfolios which aim to invest more in companies with a higher ESG score average and a lower carbon footprint than the market.
  • Fund Shortlist This allows you to choose from a selection of ready-made portfolios from HSBC and other carefully-selected fund managers.
  • Full range of funds This allows you to search and compare over 450 funds, including a wide range of index trackers.
  • My Investment This gives you personalised, regulated advice which formulates a recommendation report and advises which fund to invest in.

4Bank of England statistics, 2021

5Select and Cover Insurance offer is only available to HSBC UK customers who are registered for online banking and must be purchased for a minimum of 30 days to qualify. Select and Cover offer may be withdrawn anytime.

6Due to the impact of Covid-19 and the local restrictions that may be currently in place, customers may not be able to take immediate advantage of some of the free-to-use Home & Away offers, or may not be able to use them before their stated expiry date.

The value of investments, and any income from them, could go down as well as up, and you may not get back what you invest. This may also happen as a result of exchange rate fluctuations, as some investments have exposure to overseas markets. Investing should be seen as a medium to long-term proposition, for example, at least five years.

HSBC UK serves around 14.5 million customers in the UK and employs approximately 32,000 people. HSBC UK offers a complete range of personal, premier and private banking services including bank accounts and mortgages. It also provides commercial banking for small to medium businesses and large corporates. HSBC UK is a wholly owned subsidiary of HSBC Holdings plc.

HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2,959bn at 31 March 2021, HSBC is one of the world’s largest banking and financial services organisations.