Unfortunately, this deal is no longer valid
Free £175 When Switching to HSBC
347° Expired

Free £175 When Switching to HSBC

37
Posted 15th Nov 2019

This deal is expired. Here are some options that might interest you:

Couple of different options from HSBC. Should be something to suit everyone!

*Cash paid within 30 days of account opening.
**Only available if you have not had a HSBC account since January 2016 or switched in the last 30 days with any other provider.

HSBC Advance Account (£175)

3331733.jpgYou can apply for an Advance Bank Account if you:

  • can pay in £1,750 or more each month (or at least £10,500 every 6 months) 66 View footnote 6
  • are 18 or older and live in the UK or EU
  • are happy for us to do a credit check against your name (if you live in the UK)

HSBC Premier (£175)

3331733.jpg
HSBC Premier is available to you if you pay your annual income into your HSBC Premier Bank Account and meet 1 of the following eligibility criteria:

1. Income and product
Have an individual annual income of at least £75,000 and 1 of the following with HSBC UK: a mortgage, an investment, life insurance or a protection product.

2. Savings or investments
Have savings or investments of at least £50,000 with HSBC UK, within 6 months of opening your account.

3. International Premier
Hold and qualify for HSBC Premier in another country.

HSBC Current Account (£75)

3331733.jpg
You can apply for an HSBC Bank Account if you:

  • are 18 or older and a UK or EU resident
  • are happy for us to do a credit check against your name (if you live in the UK)
  • can provide ID and proof of address if needed
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Top comments
bccben15/11/2019 10:36

I think they're referring to the £1,750 that needs to be paid in each …I think they're referring to the £1,750 that needs to be paid in each month to get the full £175.



Oh I understood that but two things:

1. £1750 is £26,000 per year which isn't a 'very high salary'. What I mean by this is you might cosider £75,000 a high salary (more than I earn) but not £26,000.
2. What is stopping you putting in - withdraw - and put back in say £251 7 times in a month? making the total going in the account £1757

People just need to think a little before they make silly statements
Edited by: "ggidd" 15th Nov 2019
Courtesy of Martin Lewis
37 Comments
Courtesy of Martin Lewis
If i already have a joint account and switch to a new account in my sole name,.would i get it?
I got a £200 bonus for switching to (through) HSBC in early 2018. Does anyone know how thoroughly they check?

Has anyone been able to get it twice?
shazam100015/11/2019 06:34

If i already have a joint account and switch to a new account in my sole …If i already have a joint account and switch to a new account in my sole name,.would i get it?


I believe the switch closes your old account and moves all your direct debits. I’m not sure about the £175, but it’s worth knowing that in case it affects your decision.
shazam100015/11/2019 06:34

If i already have a joint account and switch to a new account in my sole …If i already have a joint account and switch to a new account in my sole name,.would i get it?


I tried this but no go.You either have to remove the name on the old account or start the new one as a joint account.
Does anyone know long do you have to keep the account open for?
Anyone got Alex Livingson's 3 digit security code on the back of the card? Hoping to make a few bob out of this.
Their customer service is poor as is the account opening process if you’ve ever been a customer before. Beware.
To get this you need to have a very high salary, so the very people who would benefit from this are the very people who cant get it due to not having a salary high enough.
JonDOnnis15/11/2019 10:04

To get this you need to have a very high salary, so the very people who …To get this you need to have a very high salary, so the very people who would benefit from this are the very people who cant get it due to not having a salary high enough.



Why does having a high enough salary mean I benefit any less from this?

Thank you OP I will look at ditching a Natwest account I never use (it has a couple of small DD set up on it for this exact purpose) to get this
ggidd15/11/2019 10:31

Why does having a high enough salary mean I benefit any less from …Why does having a high enough salary mean I benefit any less from this?Thank you OP I will look at ditching a Natwest account I never use (it has a couple of small DD set up on it for this exact purpose) to get this


I think they're referring to the £1,750 that needs to be paid in each month to get the full £175.
bccben15/11/2019 10:36

I think they're referring to the £1,750 that needs to be paid in each …I think they're referring to the £1,750 that needs to be paid in each month to get the full £175.



Oh I understood that but two things:

1. £1750 is £26,000 per year which isn't a 'very high salary'. What I mean by this is you might cosider £75,000 a high salary (more than I earn) but not £26,000.
2. What is stopping you putting in - withdraw - and put back in say £251 7 times in a month? making the total going in the account £1757

People just need to think a little before they make silly statements
Edited by: "ggidd" 15th Nov 2019
If i was making £1750 a month I wouldn't care about £175 lol
Josh_millen15/11/2019 10:50

If i was making £1750 a month I wouldn't care about £175 lol



A 10% bump in cash in your bank for that month.... I think that is a pretty stupid thing to say.

I have many friends with kids who would be very grateful for an extra 10% to buy things like food, nappies, fuel or pay some bills. But if you wouldn't care then maybe HUKD isn't the place for you. Just a thought
Usually, I meet the funding requirements by moving the same money back & forth from other bank accounts. Far too many people confuse the funding requirement with actual income.
The other requirement is normally two direct debits. My solution to that is set up two charity donations on DD for a £1 or £2 each every month... Problem solved, win win
hayd10015/11/2019 09:40

Does anyone know long do you have to keep the account open for?



'*Cash paid within 30 days of account opening' Does this mean we can open an Advance Bank Account, pay £251 7 times in the month total going in the account £1757, get the £175 within 30 days then close?
ggidd15/11/2019 11:21

The other requirement is normally two direct debits. My solution to that …The other requirement is normally two direct debits. My solution to that is set up two charity donations on DD for a £1 or £2 each every month... Problem solved, win win


Thanks, maybe add to the description OP you need 2 DD '(c) instruct us to start a full switch of a current account, including at least two Direct Debits or Standing Orders'
Edited by: "Supa" 15th Nov 2019
On Martin Lewis, where this deal originated from (they) state it is fine to pay in half, withdraw it a d pay it back in to hit the
criteria. It's how much is paid in, not necessarily in a lump sum.
karlie8815/11/2019 09:44

Anyone got Alex Livingson's 3 digit security code on the back of the card? …Anyone got Alex Livingson's 3 digit security code on the back of the card? Hoping to make a few bob out of this.


You'd be slightly annoyed if your name was Alex Livingson though wouldn't you! Imagine scrolling through HUKD and bingo - your bank card!
bd1981bd15/11/2019 19:43

On Martin Lewis, where this deal originated from (they) state it is fine …On Martin Lewis, where this deal originated from (they) state it is fine to pay in half, withdraw it a d pay it back in to hit thecriteria. It's how much is paid in, not necessarily in a lump sum.



'We've had reports that HSBC asks for income levels when you apply, so jemmying the pay-in may not be possible for this account.'
I did this 5 months ago and it was straightforward. I had opened a Tesco Bank account for the extra clubcard points and it was very easy to open a 2nd account with Tesco. I stuck a couple of charity direct debits on there and my mobile phone, then switched to HSBC. Got the £175 in a week and am also taking advantage of the 5% regular saver.

I didn't move my salary over, rather I have a standing order from my main bank account every month. I pay my credit card from this HSBC account, £250 in to the regular saver and the charity/mobile direct debits then I transfer most of the balance out again.

Net result is £175 switch bonus and around £90 interest for the regular saver after a year = £265.

Note. My credit report reflected that the average length of my financial relationships had reduced, but this didn't affect my credit score even when I opened yet another bank account soon after (with Starling for cash withdrawals on holiday).
ggidd15/11/2019 10:42

Oh I understood that but two things:1. £1750 is £26,000 per year which i …Oh I understood that but two things:1. £1750 is £26,000 per year which isn't a 'very high salary'. What I mean by this is you might cosider £75,000 a high salary (more than I earn) but not £26,000.2. What is stopping you putting in - withdraw - and put back in say £251 7 times in a month? making the total going in the account £1757People just need to think a little before they make silly statements


No the putting money in bit is easy, anyone can do that.

But you have to give your salary, and if it is not high enough you will be denied.

Dont confuse money going in and out of the account with your salary, very different things
ggidd15/11/2019 10:31

Why does having a high enough salary mean I benefit any less from …Why does having a high enough salary mean I benefit any less from this?Thank you OP I will look at ditching a Natwest account I never use (it has a couple of small DD set up on it for this exact purpose) to get this


You will benefit from this, it is people like you they want. Not the people who actually could need the money. That is my point.
JonDOnnis17/11/2019 11:25

No the putting money in bit is easy, anyone can do that.But you have to …No the putting money in bit is easy, anyone can do that.But you have to give your salary, and if it is not high enough you will be denied.Dont confuse money going in and out of the account with your salary, very different things



The Advance account does not need you to pay in your salary, it only requires a total amount of £1750 to be put in each month, how you do that is up to you.

I hope you haven't missed out on to many offers like this because you haven't understood what the offer was. Anyway, free £175, so grab it and pay some bills or buy some fuel... or do what rich people like me do with chump change like this and set fire to a few £50 notes to light my cigars
I can't help thinking, with giving all this money away to switch (they all do it at some point) maybe give a better interest rate and you might keep your customers, rather than having to 'buy them back' let's face it £175 is more interest than most of will get in 10 years!
ggidd17/11/2019 21:45

The Advance account does not need you to pay in your salary, it only …The Advance account does not need you to pay in your salary, it only requires a total amount of £1750 to be put in each month, how you do that is up to you.I hope you haven't missed out on to many offers like this because you haven't understood what the offer was. Anyway, free £175, so grab it and pay some bills or buy some fuel... or do what rich people like me do with chump change like this and set fire to a few £50 notes to light my cigars


When you apply for the account it asks your salary amount. If your salary is too low, they reject your application.
For anyone who has problems obtaining credit with a low credit score, i. e. me. This will leave a Hard Search on your Credit File.
I got turned down, but then got accepted with Halifax with their deal of £85 plus £2 credit every month.
Just something to think about that's all if you're trying to repair your credit score and want "free" money 😁
Spotted this on martin lewis last week, sadly my application wasn't successful, they don't tell you why, but i have 20k salary and 600/710 credit score (credit karma) in case its useful to anyone.

Obviously don't meet the pay in requirements, but id have juggled money around to get it over the total, maybe they are aware of this and weeding out applications with lower pay
hayd10015/11/2019 09:40

Does anyone know long do you have to keep the account open for?


I got my £175 within a few weeks. Nothing stopping you switching away after that.
Ive been having a right nightmare with this and I dont know what to do. HSBC say they have completed my switch. However, I still have a lot of money in my Barclay's E savings which is connected to my old Barclay's current account which is now closed. Barclay's haven't been any help and HSBC from what I hear are not going to help me on the phone when I haven't got any online banking sorted yet
I also work all the hours in the NHS and just dont know how I am going to get down to HSBC and sort this out. I dont get paid until Thursday. I used to use my E savings to put emergency cash in when I needed it, which is usually the week before getting paid.
What happens if you don't pay the £1,750 in each month, after you've got your bonus? is there a fee?
Looking at the documentation I don't even think you need to pay any money into this account. They just want to know that you can.
I've got 2 questions please. One, can I set up 2 dd to transfer money to my other account, would that count? And can me and my girlfriend both switch (different accounts), living together or is it just 1 person per household?
This closed on the 2nd December at midnight...
shazam100015/11/2019 06:34

If i already have a joint account and switch to a new account in my sole …If i already have a joint account and switch to a new account in my sole name,.would i get it?


No, says in T&Cs you have to be a new HSBC customer
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