HSBC UK is paying £220 to people who open an HSBC UK Bank Account through the HSBC app and switch their current account across. The offer launched on 15 June 2026 and HSBC hasn't announced an end date.
It's one of the better offers around, but it has more steps than most. On top of the switch you need to pay in £2,000 and spend £500 on the debit card.
The offer at a glance
| Bonus | £220 |
|---|---|
| Account | HSBC UK Bank Account (app only) |
| Direct debits | At least 2, transferred by the switch |
| Pay-in | £2,000 |
| Card spend | £500 on the HSBC debit card |
| Time limit | 60 days from opening the account |
| Paid | Within 60 days of qualifying |
| Closing date | None announced |
The requirements: how to qualify
You have 60 days from opening the account to do all of this:
- Open the account in the HSBC UK app: The offer only applies to HSBC UK Bank Accounts opened through the app. Basic Bank Accounts don't qualify.
- Full switch via CASS: Switch using the Current Account Switch Service and close your old account.
- Transfer at least two direct debits: They have to come across as part of the switch, so they need to be on your old account first.
- Pay in £2,000: You can move it back out afterwards.
- Spend £500 on your HSBC debit card: Putting your normal shopping or bills on the card is the easiest way to reach this.
Stuck on the two direct debit rule?
HSBC counts direct debits that are transferred by the switch, so setting them up on the new account afterwards may not count. If your old account has no bills on it, add two direct debits there before you apply.
Need direct debits fast?
Add the two direct debits HSBC needs to your old account in under 60 seconds, from £1 a month. CASS moves them across for you, and you can cancel from your banking app once you've been paid.
Set Up Direct Debits NowStep-by-step: switching to HSBC
- Prepare your old account: Make sure it has at least two active direct debits. If it doesn't, set them up with Easy Debit and wait for them to show in your banking app.
- Download the HSBC UK app: Apply for the HSBC UK Bank Account in the app, not in a branch or on the website.
- Request a full switch: Choose to switch your old account using CASS. The switch takes 7 working days.
- Pay in £2,000: Transfer it in within 60 days of opening the account.
- Spend £500 on the debit card: Track your spending in the app so you know when you've reached £500.
When do you get paid?
HSBC says the £220 is paid within 60 days of you meeting all the conditions. Keep the direct debits running until the bonus arrives.
Who can't get it?
- Anyone who already has an HSBC UK or first direct current account, or has opened one since 1 January 2023. (first direct is part of HSBC.)
- Anyone who opens the account outside the HSBC UK app, or opens a Basic Bank Account.
If you're not eligible for HSBC because you've had a first direct account, the same rule applies the other way round. See our first direct guide before choosing between them.
Frequently asked questions
How many direct debits do I need for the HSBC switch offer?
At least two, and they must be transferred as part of your CASS switch. Set them up on your old account before you apply.
Do I have to spend £500 to get the HSBC £220 bonus?
Yes. As well as the switch and the £2,000 pay-in, you need to spend at least £500 on your HSBC debit card within 60 days of opening the account.
Can I apply for the HSBC switch offer online or in a branch?
No. HSBC says the offer is for customers who open an HSBC UK Bank Account through the HSBC UK app.
Can I get the HSBC bonus if I've had a first direct account?
No. You're excluded if you've held an HSBC UK or first direct current account since 1 January 2023.
How long does HSBC take to pay the switching bonus?
HSBC says it pays within 60 days of all the conditions being met.
More bank switching guides
Last checked 26 September 2026. Switching offers change or close without notice. Always read the bank's own terms before you apply. Easy Debit is not affiliated with any bank and this guide is not financial advice.