HSBC £200 for switching. It's back! Get £150 for switching and £50 after you've been with them for a year. Also 5% regular saver one of the highest on the market
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HSBC £200 for switching. It's back! Get £150 for switching and £50 after you've been with them for a year. Also 5% regular saver one of the highest on the market

144
Found 30th Dec 2017
If you want to be paid to switch, this account is the strongest on the market. Open and switch to HSBC's Advance Account* and you'll get £150 plus a further £50 after a year. But the account has a high minimum monthly pay-in – £1,750/mth – so consider whether you'll be able to meet this before opting for it. You'll also be eligible to get HSBC's 5% regular savings account.

Need-to-knows
  • To get the bonus, you must open the account and start a full switch using HSBC's Current Account Switch Service, including at least two direct debits or standing orders, within 30 days.
  • The bonus is paid into your account within 50 days of the switch completing.
  • You can't get the bonus if switching from another HSBC account, or if you've had a current account with it since 1 Jan 2015. You can get it if you have a mortgage or savings account with HSBC – just apply online as normal.
  • If you qualify for the £150 bonus payment, you'll also get a 0% overdraft for six months when you open the account, though the limit you get is credit score dependent.
  • If you want to get the £50 extra bonus, you need to register for mobile or online banking within 60 days of account opening, plus you'll need to pay in £1,750/mth for at least nine of the first 12 months. It'll be sent within 30 days of your first anniversary of account opening.
  • HSBC shares its £85,000 UK savings safety guarantee with First Direct, so ensure you don't hold more than £85,000 across the two banks.
  • Minimum monthly pay-in: £1,750 (equates to £26,100 annual salary)
  • In-credit interest: None
  • App: You can download it for iOS (rated 2/5) and Android (rated 3.4/5).
  • Arranged overdraft cost: 0% for the first six months if you switch, then 17.9% EAR
  • Unarranged overdraft cost: £10 buffer, then 17.9% EAR interest, plus £5/day charge each day you're overdrawn (max £80/month)

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Top comments
dealerxxx1 m ago

The rich get richer or should I say save money


It's very fortunate that this account is available to most, then. As is the bonus.
dealerxxx59 m ago

The rich get richer or should I say save money


I wouldn’t say earnings of £1750 per month is “rich”!
Do I still need my Cartel disloyalty card to join?
dadofdaisy6 h, 21 m ago

I wouldn’t say earnings of £1750 per month is “rich”!


I get more than that tax free on benefits
144 Comments
The rich get richer or should I say save money
dealerxxx1 m ago

The rich get richer or should I say save money


It's very fortunate that this account is available to most, then. As is the bonus.
Looks good to me
You can only deposit £250 a month into the 5% savings account.
dealerxxx59 m ago

The rich get richer or should I say save money


I wouldn’t say earnings of £1750 per month is “rich”!
Youftbarsteward5 h, 4 m ago

You can only deposit £250 a month into the 5% savings account.


Yeah the 5% saver is alright for saving money for a year but the max interest paid is around £82 a year on that £250 a month, it is then transferred to a 0.001 paying savings account.
App rating 2/5 seems rubbish the app is superb, thumb print sign in and very useful and quick
slight hassle if you forget the pass key/password user account etc
Do I still need my Cartel disloyalty card to join?
whatyadoinsucka1 h, 22 m ago

App rating 2/5 seems rubbish the app is superb, thumb print sign in and …App rating 2/5 seems rubbish the app is superb, thumb print sign in and very useful and quickslight hassle if you forget the pass key/password user account etc


Do they still use the little key code generator for making payments?
Does anyone know if they class a marks and Spencer's account as a previous hsbc account ?
Firefly16 h, 53 m ago

It's very fortunate that this account is available to most, then. As is …It's very fortunate that this account is available to most, then. As is the bonus.


Is it?
dadofdaisy6 h, 3 m ago

I wouldn’t say earnings of £1750 per month is “rich”!


i earn 4.5x as much a month and wouldn't class myself as rich.
Edited by: "bagga212" 30th Dec 2017
dadofdaisy6 h, 21 m ago

I wouldn’t say earnings of £1750 per month is “rich”!


I get more than that tax free on benefits
Can you transfer if your in overdraft
Original Poster
rollercoaster636 m ago

Can you transfer if your in overdraft


Well from their booklet
  • A minimum overdraft offer of £1000 at account opening*

So I gather you can do it you just transfer the debt as opposed to a balance
twindy1 h, 43 m ago

Do they still use the little key code generator for making payments?


Is also like to know the answer to this as it’s a negative if you have to.
Rubbish bank. I got this deal last year, it took 3 hours in the bank to switch accounts (when I have switched with other banks it takes 10 minutes online), every time I pay in a cheque you will have to write a paying in slip (other banks you only need the cheque and card), and the online banking is fiddly to set up and use. If your not fussed about this £200 is good but I wouldn’t go with HSBC again.
twindy2 h, 0 m ago

Do they still use the little key code generator for making payments?


Yes they have the key generator to set up payee and make the fist payment. After that you can pay using the hsbc app
I'd rather put my cash into an ethical bank/building society.
geordibbk9 m ago

I'd rather put my cash into an ethical bank/building society.


So a pillow under your bed?
Does the £1750 pay in need to come from salary or can it be transferred monthly?
After having banked with HSBC for years I would definitely NOT recommend them to anyone else. Customer service is truly awful.
Gspaddock1 h, 17 m ago

Is also like to know the answer to this as it’s a negative if you have to.


You have to generate a code but can do it in-app/on your phone so long as you register your phone as a secure device... or something like that. I use the app and think it's grand and haven't needed the little calculator looking thing for years 🏼
The worst bank I have had the misfortune of dealing with. There is a reason why they need to bribe people to get them to join in.
Genuine question but is there a reason you wouldn't class building societies such as Nationwide, as a good option?
Aiadi3 m ago

The worst bank I have had the misfortune of dealing with. There is a …The worst bank I have had the misfortune of dealing with. There is a reason why they need to bribe people to get them to join in.


My plan is to join them for 12 months, take the £200 and then switch away as I don't like either but money talks.
bagga2122 h, 48 m ago

i earn 4.5x as much a month and wouldn't class myself as rich.


You earn £95k per annum? Compared with the rest of the UK you are comparatively rich
bagga2122 h, 49 m ago

i earn 4.5x as much a month and wouldn't class myself as rich.


Intelligence not a strong point then?

You would easily be in the top 5% of earners at circa £10k per month
I was rejected for this account last time around.. which hasn't happened with a bank before. Do you think it's worth trying again or is it likely to be the same response?
Yes1231 h, 22 m ago

Rubbish bank. I got this deal last year, it took 3 hours in the bank to …Rubbish bank. I got this deal last year, it took 3 hours in the bank to switch accounts (when I have switched with other banks it takes 10 minutes online), every time I pay in a cheque you will have to write a paying in slip (other banks you only need the cheque and card), and the online banking is fiddly to set up and use. If your not fussed about this £200 is good but I wouldn’t go with HSBC again.


Paying cheques in....
Most branches have paying in machine...stick your card in, post your cheque, click two buttons and done.
bagga2122 h, 55 m ago

i earn 4.5x as much a month and wouldn't class myself as rich.


So why waste your time commenting on this forum when you should be swimming in your cash a la Scrooge McDuck?
geordibbk59 m ago

I'd rather put my cash into an ethical bank/building society.


Good luck with that one. They are all merchant bankers. Even the Co-op bank let their customers down.
benhan898 m ago

You earn £95k per annum? Compared with the rest of the UK you are …You earn £95k per annum? Compared with the rest of the UK you are comparatively rich


Actually that would have to be take home pay, so you’d need to be earning c. £175kpa before tax. Rich enough not to need to swap banks for £150 bonus
App: You can download it for iOS (rated 2/5) and Android (rated 3.4/5).

Imagine if your bank's online banking was this bad. Apps must be the number one way of accessing your finances these days and it's shocking how many banks' apps are plain atrocious (the new TSB app being another example). This would make me think twice.
I did this switch end of last year in branch but when card / cheque book arrived they had mis-spelled my surname and it took weeks to sort. They offered fruit and wine in apology but never delivered. Finally they credited a further £150 for all the inconvenience. However I left soon after this very poor customer service experience and six weeks later received large fruit and wine basket!
Cryogenic139 m ago

After having banked with HSBC for years I would definitely NOT recommend …After having banked with HSBC for years I would definitely NOT recommend them to anyone else. Customer service is truly awful.


Strange that you feel that way, I opened my first account with them 22 years ago when I was in school (they were giving away a free mitre football with all accounts so I was in!). I have not used another bank since and have had no problems. In that time, I have had my account compromised twice online and twice they caught them in the act and informed me within a matter of 30 seconds. When I opened my normal account I always thought the customer service was great and now that I have a HSBC Advance account the customer service is even better.
bagga2123 h, 18 m ago

i earn 4.5x as much a month and wouldn't class myself as rich.


Any jobs going?
RE: the app - is it any different to the First Direct one (HSBC backend)? Because it is grand.
whatyadoinsucka5 h, 9 m ago

Yeah the 5% saver is alright for saving money for a year but the max …Yeah the 5% saver is alright for saving money for a year but the max interest paid is around £82 a year on that £250 a month, it is then transferred to a 0.001 paying savings account.



Not far of the mark there,my parents both nearly 80 have the 5% savings account,but had a few thousand spare needed to be invested.

They put them in a flexible saver account paying 0.10% AER/Gross

I have helped them move their money to another account away from HSBC paying far more....
Yes1231 h, 57 m ago

Rubbish bank. I got this deal last year, it took 3 hours in the bank to …Rubbish bank. I got this deal last year, it took 3 hours in the bank to switch accounts (when I have switched with other banks it takes 10 minutes online), every time I pay in a cheque you will have to write a paying in slip (other banks you only need the cheque and card), and the online banking is fiddly to set up and use. If your not fussed about this £200 is good but I wouldn’t go with HSBC again.


What's a cheque?
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