HSBC is offering new customers £125 to switch bank account | Personal Finance | Finance | Express.co.uk

HSBC reveal how they have adapted following coronavirus
A wealth of current account switch incentives have been seen in recent years, however, they tend to run for a limited time only. Today, HSBC has launched a new offer, with new customers able to get a £125 payment.
pension payments are rising in April 2021 – new rates explained Halifax warning: Britons targeted by dangerous text scam message READ MORE State pension: Britons may get extra £356 each month for hearing loss The switching offer applies to the HSBC Advance Account, and it’s only open to new customers.
To claim the reward, they need to switch within 30 days using the Current Account Switch Service.
This must include at least two Direct Debits of standing orders.
To be eligible for the HSBC Advance account, customers need to pay in a minimum of £1,750 per month or £10,500 over six months.
READ MORE: Martin Lewis confirms the new top interest rates to help Britons grow their savings
HSBC UK: The bank has launched a new switch offer (Image: GETTY) There is no monthly fee for the Advance Account.
Another aspect of this account is the access to the Regular Saver.
Customers can save between £25 to £250 each month and earn one percent AER/gross via this account.
Who can apply for the HSBC Advance Bank Account?
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Qualify for a minimum £1,000 arranged overdraft Can pay in £1,750 or more each month (or at least £10,500 every six months) Are 18 or older and live in the UK or EU Are happy for HSBC to do a credit check against their name (if they live in the UK). “Once you qualify for an Advance Bank Account, you can set your arranged overdraft to any amount up to the maximum limit offered,” the bank explains.
HSBC UK has now launched a new current account switch incentive (Image: GETTY) READ MORE State Pension set to rise in April – how to check your entitlement Terms and conditions do apply, and these are available to read on the HSBC UK website.
The bank states the offer isn’t available to customers who hold an HSBC current account at the time of application.
Furthermore, people who have held an HSBC current account at any time since January 1, 2018 aren’t eligible.
Customers who have held current accounts with HSBC’s sister banks should also be aware they may not qualify for this offer.
Related articles Negative interest rates can result in ‘bizarre outcomes’ for savers Mortgage and me: Couple recall difficult decision amid covid impact To get the switch incentive, customers cannot have opened a first direct or M&S Bank account since January 1, 2018.
Those who opened an account with either of the two sister banks before January 1, 2018 can take advantage of the offer.
Should all have the eligibility criteria have been met, HSBC UK will pay £125 into the customer’s bank account within 20 days of their switch completion date.
The offer is open to UK residents only, and it may be the offer is withdrawn at any time.