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Offer review · Live

HSBC £220 switching offer 2026

A big standard bonus with a £2,000 pay-in and £500 of card spend. Here is the full guide, and who it suits.

Updated 01 November 2026 · 6 min read
The short answer

£220 if you switch two Direct Debits, pay in £2,000 and spend £500 within 60 days.

You must apply in the HSBC UK app, and there is currently no end date. There is also a £500 Premier offer for high earners.

Go to HSBC's offer →Or see all the live switching offers
Affiliate disclosure: links to HSBC on this page are affiliate links, and we may earn a small commission if you open an account. Full disclosure →

How the standard £220 offer works

  • Bonus: £220 cash
  • Account: HSBC Bank Account, opened in the app only
  • Monthly fee: none
  • Deadline: ongoing, no current end date
  1. Apply in the HSBC appIt has to be done in the app, not online or in branch.
  2. Request a full CASS switchIt must move 2 active Direct Debits from your old account.
  3. Your switch completesThis normally takes 7 working days, and your Direct Debits move across.
  4. Pay in £2,000 and spend £500Both within 60 days: £2,000 paid in, and £500 on your HSBC debit card.
  5. HSBC pays the bonusWithin 60 days of all the conditions being met.
The card spend is the catch. HSBC asks for a £2,000 pay-in and £500 of debit card spend, which is more than most other offers. If you put everyday spending on a debit card, you'll reach £500 easily. If you rarely do, NatWest's £200 has simpler conditions.

Who can claim it?

You can claim if

  • You switch using CASS
  • You move two active Direct Debits
  • You pay in £2,000 within 60 days
  • You spend £500 on your HSBC debit card within 60 days
  • You apply in the HSBC app

You can't claim if

  • You've held an HSBC or First Direct account since 1 January 2023 (same banking group)
  • You apply online or in branch rather than the app

The Premier offer: £500

HSBC also pays £500 cash on its Premier account (or up to £1,000 for Premier ISA customers). It needs £100,000 or more of annual sole income (£120,000 or more joint) paid into HSBC, or £100,000 or more in savings or investments with HSBC. It is designed for existing high-net-worth customers, so most switchers won't qualify.

HSBC or First Direct first?

HSBC and First Direct are part of the same banking group, so taking one usually rules out the other. Each has its own exclusion rule: HSBC rules out anyone who has held an HSBC or First Direct account since 1 January 2023, and First Direct rules out anyone who has opened an HSBC current account since 1 January 2018.

Choose HSBC if

  • You want the higher bonus
  • You can hit £500 of card spend

Choose First Direct if

  • You want the best-rated customer service
  • You prefer simpler conditions

If you're a BeSwitchReady member

Your two BeSwitchReady Bacs Direct Debits are designed to meet HSBC's requirement to move 2 Direct Debits via CASS. Check HSBC's current terms, and make sure you apply in the HSBC app, not the website.

Once your bonus lands

Make it work harder. Our guide to what to do with your switching bonus covers everything from investing platforms to travel cards.

Stay ahead

Hear about deadlines first

Members get new offers, boosts and ending dates by email, so you can plan the order without watching the news yourself.

Two Direct Debits£0.99 each, £1.98 a month in total.
Offer alerts firstNew offers, boosts and ending dates, by email.
Your best next switchA monthly pick, with the order to do things in.
Cancel any timeThrough your bank, no minimum term.
Join BeSwitchReady — £1.98/month → Bank terms always take precedence over our guidance. Check the live offers

Frequently asked questions

How much does HSBC pay for switching?

£220 cash on the standard HSBC Bank Account, if you meet the conditions. A separate £500 offer exists for Premier customers.

Do I have to apply in the app?

Yes. The offer needs the application to be made in the HSBC UK app, not online or in a branch.

What do I need to do within 60 days?

Pay in at least £2,000 and spend at least £500 on your HSBC debit card, after a full CASS switch that moves two active Direct Debits.

Is the HSBC £220 offer worth it?

Yes, if you can meet the conditions. The £500 card spend is the main consideration. If you rarely use a debit card, NatWest's £200 offer is simpler.

Claim the HSBC £220 offer

Apply in the HSBC app. Check HSBC's terms before you apply.

Apply for HSBC →

This is general information, not financial advice. Always check current terms at hsbc.co.uk before applying, as bonus amounts and eligibility criteria may change. Links to HSBC on this page may earn BeSwitchReady a commission. BeSwitchReady is a paid membership service that sets up Direct Debits.