HSBC Bank Account £220 Switch Bonus
Switch to an HSBC current account and get £220 cash — the highest standard UK bank switch bonus available in June 2026.
Quick answer
Use the referral link for the HSBC offer. New eligible customers can get £220 after meeting the requirement: £2,000 deposit, £500 card spend and 2 Direct Debits. Last verified 2026-06-16.
- Reward
- £220
- Referral code
- No code required
- Last verified
- 2026-06-16
- Difficulty
- Medium
- Time to claim
- 15-20 minutes
- Time to payout
- 4-6 weeks
Ad / referral links — we may earn a bonus when you sign up.
How to claim
- Open an HSBC Bank Account (new HSBC customers only — no HSBC or First Direct account since 1 Jan 2023).
- Use the Current Account Switch Service (CASS) to switch from a different banking group.
- Complete the switch with at least 2 active Direct Debits transferred.
- Deposit at least £2,000 within 60 days of opening.
- Spend at least £500 on the debit card within 60 days.
- Receive £220 credited to your account, typically within 4-6 weeks of meeting all conditions.
Eligibility & requirements
- New HSBC customers only (no HSBC or First Direct account held since 1 January 2023).
- Must use the full Current Account Switch Service.
- Minimum £2,000 deposit and £500 card spend within 60 days.
- At least 2 active Direct Debits must transfer over.
Verification notes
- Minimum spend/deposit
- £2,000 deposit, £500 card spend and 2 Direct Debits
- Last verified
- 16 June 2026
Provider terms can change without warning. Treat this as a verification snapshot and confirm the live terms before applying.
Pros
- Highest standard bank switch bonus available (£220).
- Well-established bank with full branch network.
- Solid mobile app and online banking.
Watch out for
- Excludes anyone who held an HSBC Group account (HSBC or First Direct) recently.
- Higher deposit and spend requirements than some competitors.
- No interest on balance.
FAQ
- How long does the £220 bonus take to arrive?
- Typically 4-6 weeks after you've completed the switch and met all the qualifying conditions (deposit, spend, Direct Debits).
- Can I do this if I had a First Direct account before?
- No. First Direct is part of HSBC Group, so if you've held any HSBC or First Direct account since 1 January 2023, you're not eligible.
- Do I have to keep the account open after getting the bonus?
- There's no contractual minimum period stated, but closing immediately after the bonus lands may affect your eligibility for future HSBC offers. Most people keep it open for 3-6 months.
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Added yesterday · Last updated 16 June 2026. Offers and terms change frequently — always confirm on the provider's site before applying.