Unfortunately, this deal is no longer valid
Switch to a HSBC current account and receive £175
369° Expired

Switch to a HSBC current account and receive £175

63
Posted 4th Jul

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

Just switch using the Current Account Switch Service and HSBC will deposit £175 into your account within 30 days.
To be eligible, you need to pay in at least £1,750 per month or £10,500 every 6 months. Further eligibility and T&Cs apply.
Community Updates
1.These terms and conditions (the “Offer Terms”) apply whenyou switch your current account to an HSBC Advance BankAccount in the UK (an “Eligible Account”). These Offer Termsapply in addition to and should be read together with theCurrent Account Switch Agreement, the Personal BankingTerms and Conditions and the Charges and Additional ProductTerms which apply to the Eligible Account.

Eligibility criteria for Offer Payment
2.You will qualify for the Switching Offer describedin these Offer terms if you:(a) apply for an eligible account from 20 May 2019 until furthernotice, and such account is subsequently opened;(b) are not an existing HSBC current account holder on the dateof application (and have not been on or after 1 January 2016)*1.Where your Eligible Account is a joint account, at least one ofthe joint account holders must complete the Switch from eithera sole account in their own name or another joint account inthe same names;(c) instruct us to start a full switch of a current account,including at least two Direct Debits or Standing Orders, to yourEligible Account using the Current Account Switch Service*2(CASS) to start within 30 days of the date of your EligibleAccount being opened. If you are opening a joint EligibleAccount both account holders must do this;(d) switch your bank account to us from another UK bankor building society that participates in the Current AccountSwitch Service; and(e) continue to hold an Eligible Account on the date we makethe Payment.

The Offer Payment
3.If you meet the above eligibility criteria, we will make anOffer Payment of £175 within 30 days of the switch completiondate. The payment will be made by a direct credit into yourEligible Account.HSBC Advance Bank Account £175 Switching Offer
Was posted here previous posts to help people out.

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Top comments
This has been posted previously.

When I switched, I transferred in 2k when the switch was complete, and within 10minutes I recieved the £175 and a text confirming it, was surprised how efficient it was.
Good bank if you want to save....password after password should keep u well away from your cash!
63 Comments
This has been posted previously.

When I switched, I transferred in 2k when the switch was complete, and within 10minutes I recieved the £175 and a text confirming it, was surprised how efficient it was.
MrPfister04/07/2019 15:33

This has been posted previously.When I switched, I transferred in 2k when …This has been posted previously.When I switched, I transferred in 2k when the switch was complete, and within 10minutes I recieved the £175 and a text confirming it, was surprised how efficient it was.


So u don’t need to earn1750 per month
Anyone know if they would accept paying in £1,750 per month from another bank for a few days then transfer back to other bank each month until paid £175
Can this be applied to share account as I have oy £1650 income..
Pateo04/07/2019 15:40

Anyone know if they would accept paying in £1,750 per month from another …Anyone know if they would accept paying in £1,750 per month from another bank for a few days then transfer back to other bank each month until paid £175


Although I met the earnings threshold, this is what I do as my main banking elsewhere
Switched to them the last time this was running. Terrible to bank with. Their system to set up a recurring DD is painful - you need to fill an online fill an online form instead of just doing it through your online account/app. I spoke to multiple phone reps who did not help the issue (made it worse in fact) and in the end, but for getting issues escalated up the chain they would have damaged my credit rating. Anyway, I've not waited for the remaining £50, I left last month.
Good bank if you want to save....password after password should keep u well away from your cash!
Took them up on this offer earlier in the year and the payment was prompt.

This week I considered switching to Barclays for their offer, but to be honest, I'm a little reluctant as I've no faults with HSBC.
Pateo04/07/2019 15:40

Anyone know if they would accept paying in £1,750 per month from another …Anyone know if they would accept paying in £1,750 per month from another bank for a few days then transfer back to other bank each month until paid £175


They do
Sliwka04/07/2019 15:44

Can this be applied to share account as I have oy £1650 income..


Doesn’t have to be income. When you apply there’s the option to say will anyone else be paying money into your account. This is where you add the extra to make up to £1750. Worked for hubbie and I on separate applications.
Can I transfer here, get cashback and then immediately switch to starling? Or do they claw back the cashback like NatWest?
jaydeeuk104/07/2019 17:58

Can I transfer here, get cashback and then immediately switch to starling? …Can I transfer here, get cashback and then immediately switch to starling? Or do they claw back the cashback like NatWest?


No issues
Need to switch at least two direct debits to be eligible
superjel04/07/2019 19:04

Need to switch at least two direct debits to be eligible


It didn’t ask me for this when I applied online? Think standing orders work too.
Edited by: "Annabelle2406" 4th Jul
jaydeeuk104/07/2019 17:58

Can I transfer here, get cashback and then immediately switch to starling? …Can I transfer here, get cashback and then immediately switch to starling? Or do they claw back the cashback like NatWest?


NatWest claw the bonus back?
squiby04/07/2019 19:52

NatWest claw the bonus back?


Apparently if transfer away within 3 months
Can you claim if you have a firstdirect account and switch from them? As only a few months ago I was paid the bonus by First Direct for Switching to them
The £175 gets paid VERY quickly
Ts189904/07/2019 15:39

So u don’t need to earn1750 per month


Possibly not, although I was asked to provide evidence of my earnings to a branch to complete my application. The switch money was paid very quickly after completing though.
Edited by: "ahenners" 4th Jul
What about if you've been with first direct? Are you still eligible?
Fine if you’ve been with first direct, I did that switch a few years ago (and have just recently switched back to FD for another £125!!)
Awful customer service if you have any issues with your account. Your dealing with an Indian call center with loads of background noise and reps that don't understand what you are saying. My wife left them recently because dealing with the CS was so stressful.
Edited by: "ncd" 4th Jul
I do cry that I opened an account with them for free. I wish I had waited for switch offer :-(
jaydeeuk104/07/2019 19:58

Apparently if transfer away within 3 months


How do they go about it, do they just bill you somehow? I still have mine but someone else I know switched away soon after they received it
jaydeeuk104/07/2019 19:58

Apparently if transfer away within 3 months


Didn’t take mine nor hubbies. We transferred from NatWest within days of getting bonus. No problem.
ojk198504/07/2019 20:47

What about if you've been with first direct? Are you still eligible?


HSBC and First Direct have separate banking licences so having both accounts is not an issue.
Lucas_022404/07/2019 20:51

Fine if you’ve been with first direct, I did that switch a few years ago ( …Fine if you’ve been with first direct, I did that switch a few years ago (and have just recently switched back to FD for another £125!!)


Hi

You have been with first direct previously and they accepted you and have you a second switch inventive?
There terms and conditions suggested that was not possible, does it ask if you have previously been with them?

Cheers
LindaB0004/07/2019 22:43

Didn’t take mine nor hubbies. We transferred from NatWest within days of g …Didn’t take mine nor hubbies. We transferred from NatWest within days of getting bonus. No problem.


Sorry, nationwide not NatWest.
akajay0704/07/2019 16:13

Took them up on this offer earlier in the year and the payment was …Took them up on this offer earlier in the year and the payment was prompt.This week I considered switching to Barclays for their offer, but to be honest, I'm a little reluctant as I've no faults with HSBC.


Barclays are an absolute nightmare, when trying to resolve issues.
I have a HSBC account which I have had for around 18 years now .. I would take advantage of these incentives but feel that the old account may be beneficial somehow, possibly for credit score reasons or something else. Can anyone advise on this?!
Opeteo04/07/2019 22:52

HiYou have been with first direct previously and they accepted you and …HiYou have been with first direct previously and they accepted you and have you a second switch inventive?There terms and conditions suggested that was not possible, does it ask if you have previously been with them?Cheers



I thought the same, but it's actually gone through fine... I wasn't expecting to get it the second time around, I just wanted to switch back to FD as it was a much better experience, so when the £125 landed I was extra happy!
Can u withdraw then put the monies back in to make up the monthly quota..?
Super.Noob05/07/2019 01:35

Can u withdraw then put the monies back in to make up the monthly quota..?



Yep
Lucas_022404/07/2019 23:59

I thought the same, but it's actually gone through fine... I wasn't …I thought the same, but it's actually gone through fine... I wasn't expecting to get it the second time around, I just wanted to switch back to FD as it was a much better experience, so when the £125 landed I was extra happy!


Ok this is good.
Did they ask if you have been previously with them?
How long ago did you leave them the first time?
Looks like you need to do a full account switch...

c) instruct us to start a full switch of a current account,including at least two Direct Debits or Standing Orders, to yourEligible Account using the Current Account Switch Service*2(CASS) to start within 30 days of the date of your EligibleAccount being opened. If you are opening a joint EligibleAccount both account holders must do thisd) switch your bank account to us from another UK bankor building society that participates in the Current AccountSwitch Service; and(e) continue to hold an Eligible Account on the date we makethe Payment
adhoward04/07/2019 20:02

Can you claim if you have a firstdirect account and switch from them? As …Can you claim if you have a firstdirect account and switch from them? As only a few months ago I was paid the bonus by First Direct for Switching to them


Yes, this is exactly what I did earlier this year.
ubmaniac04/07/2019 23:52

I have a HSBC account which I have had for around 18 years now .. I would …I have a HSBC account which I have had for around 18 years now .. I would take advantage of these incentives but feel that the old account may be beneficial somehow, possibly for credit score reasons or something else. Can anyone advise on this?!


Your credit score does take account stability into consideration, but this is a very small part that is unlikely to have an appreciable impact unless several bank and credit accounts have been opened in the last 6-12 months.

I've switched current accounts on average every 9 months or so for the last 5 years and my credit score is 999, so I wouldn't even take loyalty into account, personally, as there is rarely a benefit to staying with the same provider.

Assuming that your credit score is otherwise in order, and you aren't applying for a mortgage in the next few months, I think it's a case of weighing up whether the switch incentive is worth the relatively small amount of hassle. For me, it usually is.
Edited by: "akajay07" 5th Jul
I applied and they then requested proof of earnings to be taken to branch. CBA!
LindaB0004/07/2019 22:44

HSBC and First Direct have separate banking licences so having both …HSBC and First Direct have separate banking licences so having both accounts is not an issue.


Just be careful with regards to transferring money between HSBC group banks e.g. First Direct, HSBC, as money transferred between them won't count towards the monthly quota. I realise that this question is more about switching between accounts, however, thought I would mention it.
Super.Noob05/07/2019 01:35

Can u withdraw then put the monies back in to make up the monthly quota..?


Yes you can.
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