To qualify for the full £750, customers must meet two separate sets of criteria, though it is possible to claim just one part of the offer for a smaller £250 cashback reward. The promotion is scheduled to run until 23rd February 2026.
How to qualify for the £750 HSBC switching offer
The £750 HSBC switching reward is split into two stages. Eligible customers who open a new HSBC Premier account and complete a full switch using the Current Account Switch Service (CASS) will receive £250, and those who are willing to transfer £100,000 or more in eligible savings or investments into their new HSBC Premier account will qualify for a further £500 cashback. We explain the offer in more detail below:
Qualifying for the first £250 cashback with HSBC
To qualify for the first £250 cashback reward with HSBC, you'll need to open a new HSBC Premier account and complete a full switch using the Current Account Switch Service (CASS). You also need to have an individual annual salary of at least £100,000 paid directly into the account by an employer.
Qualifying for the additional £500 cashback with HSBC
This is available to those who transfer £100,000 or more in eligible savings or investments into their new HSBC Premier account. You must maintain this balance for at least three months.
Customers who fulfil both the switching and the savings/investments requirements will receive the maximum £750 cashback. All criteria must be met by 30th April 2026, and the cashback is typically paid into the account within 70 days of meeting the requirements.
Eligibility requirements
To apply, you must be at least 18 years old, a UK resident, and meet one of the following criteria:
- Have an individual annual income of at least £100,000 paid into the account
- Hold at least £100,000 in savings or investments with HSBC in the UK
- Already qualify for HSBC Premier in another country
How to switch to HSBC
You can switch to HSBC online or in-branch, whichever you prefer. The switch is handled by the Current Account Switch Service (CASS). Before you get started, it's a good idea to download bank statements from your old bank so you don't lose them after the switch. You may also want to look through your Direct Debits and standing orders to ensure you meet the switching requirements or to cancel any that are no longer relevant.
Once you're ready to go, select the HSBC Premier account and use CASS to pick a bank switch date. Switching current accounts typically takes around 7 working days. CASS will ensure your balance, income payments and outgoing payments are all switched over. You'll need to make sure you don't set up any new Direct Debits or other payments while the switch is taking place, as they may not carry over. Once the switch is complete, you'll be notified and your old account will close.
Should you switch to HSBC Premier?
Before switching to the HSBC Premier account, it is worth ensuring it is the right bank account for your needs. HSBC Premier is a premium banking service that does not charge a monthly fee, however, it does have strict financial eligibility requirements. The table below summarises the main features of the account.
| Feature | HSBC Premier |
| 24/7 customer support |  |
| Apple Pay, Google Pay, and Samsung Pay | |
| Exclusive customer-only products like Global Money Account | |
| Digital GP appointments, mental health support, plus 2 second opinions a year for you and your family | |
| Cancer Bereavement Cover, which provides £2,000 if you were to pass away from a cancer-related cause. Terms apply. | |
| Family HSBC Worldwide Travel Insurance | |
| Preferential terms on various financial products | |
| Access to the HSBC Financial Advice service | |
| Get a replacement card within 36 hours and up to $2,000 in emergency cash transfers if you lose your credit card abroad | |
HSBC Premier £750 switching offer exclusions
As with most bank account switch incentives, there are several exclusions you'll need to be aware of before applying:
- The offer is not available to those who already hold an HSBC UK or First Direct current account
- You are ineligible if you have received a joining incentive from HSBC UK since 1st January 2025
- To receive the switching bonus, your old bank account must be closed as part of the CASS process
What other switching offers are there?
If you're not sure the HSBC offer is quite right for you, we have a list of the best current account switching offers, which we update frequently. Make sure to bookmark the page and come back to it to benefit from switching offers as and when they come up.
Some of the best current account switching offers on the market right now include Santander's £200 switching offer and Nationwide's £175 switching offer.
£200 Pension Cashback Offer
Make a qualifying deposit or transfer a pension to our partner Interactive Investor.
- Deposit or transfer a pension of at least £20k and you could earn £200 cashback
- Terms and Fees apply, Capital at risk
- New & Existing customers opening a SIPP
- Offer ends 30th June 2026
Before starting your transfer, check you won't lose any valuable benefits (such as guaranteed annuity rates or a lower protected pension age) and find out what exit fees you might have to pay
