HSBC is paying customers £200 to switch to one of its current bank accounts.
The bank bribe is available when you move your existing current account to an HSBC Advance or Premier bank account.
To be eligible for the £200 switch cash, you can't have had a HSBC current account, or opened one with its sister bank First Direct, since January 2020.
You need to make the switch through the free Current Account Switch Service (CASS) and have two direct debits or standing orders.
You must also pay in at least £1,500 within 60 days, then the cash bonus will be issued within 20 days.
HSBC Advance is free to open and there is no monthly pay-in required. You can open a linked 5% regular saver as well, where you can put in up to £250 each month.
HSBC Premier also comes with no monthly pay-in but the criteria to open this account is stricter.
You need to have an annual income of at least £75,000 and a mortgage, investment, life insurance or protection product HSBC, or have savings or investments of at least £50,000 with HSBC.
You’ll also be eligible if you qualify for HSBC Premier in another country.
Already a customer with HSBC? There are other bank bribes you might be about to claim.
NatWest is paying new customers £200 when they switch their bank account - and you could also earn £36 a year in cashback.
You can get the switch money when you change your current account to one of several NatWest, RBS or Ulster accounts.
To get the additional £36 a year cashback, you would need to go with either the NatWest Reward or RBS Reward accounts.
The cashback, which is worth £5 a month, is available when you use the mobile app and pay out two direct debits worth at least £2 every month.
But there is a catch. Both accounts come with a £2 monthly fee, which takes the cashback effectively down to £3 a month, or £36 over the year.
If you just want the £200 switch offer, the NatWest Select, RBS Select and Ulster Select accounts don’t come with a fee.
First Direct is paying new customers £175 when you switch to its 1st Account.
The 1st Account gives you access to a linked regular saver which pays 7% interest on up to £300 each month, and many people get an ongoing £250 0% overdraft.
