HSBC has issued a new update this morning.
It said it was providing a £220 incentive to new customers who open a current account. Launched today (Monday, June 15), the switching offer is available to those opening an HSBC UK Bank Account through the HSBC UK app, provided they meet the eligibility requirements.
Customers can anticipate receiving the bonus within 60 days of fulfilling the conditions, the bank confirmed. Alongside the £220 incentive, account benefits include access to products such as the Global Money account, allowing customers to convert, spend and transfer multiple currencies from across the globe.
Customers will also enjoy offers and reductions on shopping, dining and travel. To qualify for the £220 switching offer, customers must satisfy the following criteria within 60 days of opening their account.
View 3 ImagesHSBC has announced a new deal(Image: Lucy North/PA)
They must complete a full switch using the Current Account Switch Service (CASS) to move their everyday banking, including at least two direct debits. They must also pay in a minimum of £2,000 into their account.
Finally, they must spend £500 using a debit card linked to the account.
Tara Bedelian, head of current accounts at HSBC UK, said: “With our new £220 incentive, there are more reasons than ever for customers to switch to HSBC UK.
“The account has a number of customer-only benefits, including access to Global Money, our multi-currency account offering our best exchange rates.
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“Once new customers have switched their everyday banking to us and met the offer criteria, the bonus will be paid within 60 days.”
View 3 ImagesA £500 deal is also still on offer(Image: Bibek Raj Giri via Getty Images)
Separately from the new £220 switching offer, customers who qualify for the HSBC UK Premier Bank Account can still claim a £500 welcome bonus when switching via CASS and fulfilling the account eligibility requirements. Customers can become eligible for the reward by depositing an annual personal salary of £100,000 or more, or by opening a Premier account and maintaining £100,000 or more in savings and investments with HSBC UK.