10 June 2021

Switch on summer with the new HSBC UK current account switching offer

The cash offer of £125 to new1 customers when they switch to an HSBC Advance or Premier Bank Account, using the Current Account Switch Service comes into effect on the 10th June 2021.

In addition, to the enhanced switching offer customers who switch to HSBC UK could enjoy benefits including:

  • Building up a savings pot and earning 1.00% AER/gross by saving between £25 and £250 a month with our Regular Saver2.
  • 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 to protect the people and things they love, all under one policy3.
  • 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 tickets4.

Fiona Anderson, HSBC UK’s Head of Everyday Banking, said: “With lockdown and social distancing restrictions easing, the country is starting to switch back on. People have more opportunity to switch from back gardens to pub gardens, switch from FaceTime to face-to-face time, and instead of staying local people can switch to enjoying more of the country and some of the wonderful experiences it has to offer.”

Fiona Anderson added: “Our current account offer will provide switchers to our Advance and Premier current accounts with £125 cash to help them move on from what has been a challenging year and a half and to celebrate as summer finally arrives.”

Notes to Editors:

1‘New 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. Where an eligible current account is a joint account, at least one of the joint account holders must complete the switch from either a sole account in their own name or another joint account in the same names.

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 Offer may be withdrawn anytime.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.

2The fixed rate of 1.00% AER/gross over 12 months is available to HSBC Premier, HSBC Advance, Bank Account, Bank Account Pay Monthly, HSBC Student Bank Account or Graduate Bank Account customers who open a new Regular Saver account. Save between £25 and £250 per month by standing order from your HSBC account for a fixed term of 12 months. If you do not save £250 in any given month you can carry over any unused subscription to following months. Interest is calculated on the daily cleared balance on your ’Regular Saver and we will pay this to your Regular Saver on the anniversary of the date your account was opened. For example, if you saved £250 every month for 12 months a total of £3000 will be paid in to your account during the 12-month term. At 1.00% you would earn approximately £16 interest (gross). Partial withdrawals are not allowed during the 12-month term. If you close your Regular Saver before the anniversary, we will pay interest at the same rate as we would apply to an equivalent amount held in a Flexible Saver. You can only hold one Regular Saver at any given time. AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year. All credit interest will be paid gross. Gross is the rate of interest if interest were paid and not compounded each year.

3Select 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.

4Due 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.


HSBC UK serves around 14.5 million customers across the UK, supported by 32,000 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 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.