HSBC switch deal: June 2026

Learn what you need to do to get £220 for switching your account.

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By

Kate Steere

Edited by

Liz Edwards

Updated

Fact checked

HSBC has launched a new £220 switching bonus for when you switch to its HSBC UK Bank account via the HSBC app. Here’s all the details on how to get the money, plus a little extra. For a full list of switching deals on the market, you can visit our switching deals guide.
1

Open an HSBC UK Bank account.

You can open your account online or through the app, by filling in a short application form.

10 minutes
2

Switch using the Current Account Switching Service.

This takes place during account opening - when prompted, state you wish to switch your existing account to your new HSBC one.

Seconds
3

Choose your switch date.

You’ll need to choose a date for when you want your account switched over and transfer over at least 2 active direct debits.

Seconds
4

Receive switch confirmation.

On the day of your current account switch, you’ll receive confirmation from HSBC that your account is now open.

Around 8 days (depending on selected switch date)
5

Pay £2,000 into your account.

Within 60 days of switching, you must pay £2,000 into your account and spend £500 using a debit card linked to the account.

Within 60 days
6

Receive your £220 bonus.

Once you've met the above conditions, you'll receive £220 in your new account within 60 days.

Within 60 days (but could be a lot quicker)
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How much will you get?

You get £220 within 60 days of meeting the eligibility criteria listed below.

With this switching deal, you can also access the HSBC Regular Saver at 5.00% AER. If you save the maximum of £250 a month into the savings account, you’ll have £81.25 in interest after a year.

That’s £301.25 in your first year, including switching bonus and maximum savings interest.

Who can get this deal?

The offer is available to new customers who open an HSBC UK Bank account using the HSBC UK mobile banking app, on or after 15 June 2026.

You can’t qualify if:

  • You’re already an HSBC UK or first direct customers or have opened an HSBC UK or first direct current account on or after 1 January 2023.
  • You open a HSBC UK Bank account via other channels (branch or telephone banking).
  • You’re an HSBC staff member.

When the offer ends

There is no specific end date, but the offer may be withdrawn at any time.

Alternative offers

If this offer is not for you, we also have a guide displaying current banking switching deals on the market and also other banking offers such as refer-a-friend offers and more.

Sources

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.
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To make sure you get accurate and helpful information, this guide has been edited by Liz Edwards as part of our fact-checking process.
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Editor

Kate Steere is an editor and money expert at Finder, specialising in banking, savings and fintech. She has previously written for The Motley Fool UK and Fitch Solutions, where she covered a wide range of personal finance topics and kept a close eye on market trends. Kate has a Bachelor of Arts in Modern History from the University of East Anglia. When not working, she can usually be found curled up with a good book or heading out for a run. See full bio

Kate's expertise
Kate has written 181 Finder guides across topics including:
  • Banking
  • Savings
  • Fintech
  • Credit
  • Payments
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