HSBC £220 switch bonus: what to do within 60 days
Open a sole HSBC Bank Account in the HSBC UK app and, within 60 days, complete a full CASS switch with at least 2 Direct Debits, pay in £2,000 and spend £500 on the debit card. HSBC pays £220 within 60 days of you qualifying; current and recent HSBC UK or first direct customers are excluded. Screenshot each step as you go.
Read our full assessment →Quick answer
Use the referral link for the HSBC offer. New eligible customers can get £220 after meeting the requirement: Within 60 days of opening in the app: full CASS switch with at least 2 Direct Debits, £2,000 paid in and £500 of eligible debit-card purchases. Last verified 2026-10-11.
- Reward
- £220
- Referral code
- No code required
- Last verified
- 2026-10-11
- Difficulty
- Medium
- Time to claim
- 15-20 minutes
- Time to payout
- Within 60 days after all qualifying criteria are met
Ad / referral links — we may earn a bonus when you sign up.
How to claim
- Check you are a UK resident aged 18 or over, not already an HSBC UK or first direct customer, and haven't opened or held an HSBC UK or first direct current account since 1 January 2023.
- Open a sole HSBC Bank Account in the HSBC UK Mobile Banking app. Joint accounts and applications made online, in a branch or by phone don't qualify.
- Within 60 days of opening, complete a full CASS switch that brings at least 2 Direct Debits; the old account closes.
- In the same 60 days, pay in at least £2,000. It can be several payments and doesn't have to stay in the account.
- In the same 60 days, spend at least £500 on eligible debit-card purchases, including Apple Pay, Google Pay and Samsung Pay.
- Keep the account open and unrestricted. HSBC pays £220 within 60 days of you qualifying, so allow up to about four months (around 120 days) from opening.
Eligibility & requirements
- UK resident aged 18 or over. Open a sole HSBC Bank Account in the HSBC UK app on or after 15 June 2026; joint accounts, online, branch and telephone applications, the Basic Bank Account and the Premier Bank Account don't qualify.
- Excluded if you are already an HSBC UK or first direct customer, or opened an HSBC UK or first direct current account on or after 1 January 2023. HSBC's account page says held one since that date, so assume the wider rule. HSBC staff are excluded.
- Within 60 days of opening: a full CASS switch with at least 2 Direct Debits, at least £2,000 paid in and at least £500 spent on the HSBC debit card.
- The £2,000 can be several payments and doesn't have to stay in the account. Card purchases can be several, including Apple Pay, Google Pay and Samsung Pay.
- Cash withdrawals, fees, refunded or reversed purchases, gambling, credit-card or insurance payments, card-to-card payments and transfers from your other HSBC accounts don't count towards the £500.
- One £220 per person, paid within 60 days of qualifying while the account is open and not restricted or suspended. No end date is published; if HSBC withdraws the offer after you have requested your switch, you still qualify by meeting the conditions.
- HSBC may withhold the reward and suspend the account if it reasonably suspects abuse of the offer. The reward may be reportable to HMRC, and any tax on it is your responsibility.
Verification notes
- Minimum spend/deposit
- Within 60 days of opening in the app: full CASS switch with at least 2 Direct Debits, £2,000 paid in and £500 of eligible debit-card purchases
- Last verified
- 11 October 2026
- Automated source check
- 15 September 2026
Provider terms can change without warning. Treat this as a verification snapshot and confirm the live terms before applying.
Pros
- £220 with no fixed end date, and you still qualify if HSBC withdraws the offer after you have requested your switch.
- No monthly account fee.
- The £2,000 and the £500 can each be built up from several payments, and the £2,000 doesn't have to stay.
Watch out for
- Excludes current HSBC UK and first direct customers, and anyone who opened (or, by HSBC's account page, held) one of their current accounts since 1 January 2023.
- Twice first direct's £1,000 pay-in, plus £500 of real card spending rather than a handful of payments.
- No advertised interest on the current-account balance.
- Payment can take up to 60 days after you qualify, so up to about four months from opening.
- Sole app applications only, and you can't request an arranged overdraft when opening in the app (you can ask later).
FAQ
- How long does the £220 bonus take to arrive?
- You have 60 days from opening to complete the switch with at least 2 Direct Debits, the £2,000 pay-in and the £500 spend. HSBC then pays within 60 days of you qualifying, so allow up to about four months from opening.
- Can I do this if I had a first direct account before?
- Not if you are a current HSBC UK or first direct customer, or opened one of their current accounts on or after 1 January 2023. HSBC's account page words it as having held one since then, so if you had one open at any point since 2023, assume you don't qualify unless HSBC confirms otherwise.
- Can I open a joint account for the bonus?
- No. The offer needs a sole account opened in the HSBC UK app. Joint applications, and applications made online, in a branch or by phone, don't qualify.
- Do I have to keep the account open after getting the bonus?
- The terms only require the account to be open and not restricted or suspended when HSBC pays; they set no holding period after that. If you open HSBC's Regular Saver, you need to keep an HSBC current account for its 12-month term.
Related offers
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Monzo
Monzo's referral terms give a new UK customer 30 days from entering their mobile number on the invite page to open an account, add money and make one card payment. Your reward is random: £10 for 94 people in 100, £20 or £50 for the rest, and only £5 in some cases. Open it for the account, not the bonus.
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Chase pays you £50 when you activate a single-use referral code in the app and pay in £1,000 in total within 30 days of opening your first account. Chase only lets customers send codes to people they know, so request a private invite from this page rather than relying on a public code. Move the £50 out of Rewards before you ever leave Chase.
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Requirement: None on this invite: open a Biscuit account through the link within 30 days of entering your mobile number
Easy5-10 minutes; opening can take up to 2 working daysPayout Within 30 days of qualifying
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Added 16 June 2026 · Last updated 11 October 2026. Offers and terms change frequently - always confirm on the provider's site before applying.