High earners can switch for a free shopping voucher
It’s been a while since HSBC offered a bank switch deal for it’s standard or Advance account, but there’s now a new deal for anyone able to get the exclusive Premier current account. Here’s how it works.
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What is HSBC Premier banking?
This current account isn’t open to just anyone – you need to have a massive salary or loads in savings or investments. So you need to meet one of these criteria to apply:
- An annual income of £100,000 paid into your HSBC Premier account
- Savings or investments of at least £100,000 held with HSBC
- Already an HSBC Premier customer in another country
If you’re new to HSBC and go for the savings option, you’ve six months from opening the account to save or invest the cash. You’ll also need to be over 18 years old and be a UK resident.
Once you have the account you’ll get access to some decent perks, including worldwide family travel insurance, easily worth a couple of hundred pounds
You’ll also be able to apply for the HSBC Premier World Elite credit card, offering airport lounge access security fast track – though it’ll cost you £290 a year.
HSBC Premier bank switch offer
This promotion isn’t for cash. Instead if you’re successful you’ll get a £500 Selfridges gift card and “VIP shopping experience”.
The gift card can’t be claimed until later this year – you’ll need to watch out for an email on or after 9 November 2025.
The shopping experience is at Selfridges and includes a free drink – though you’re not required to take up this part of the offer if you just want the voucher.
Who can get it?
The offer is open to new HSBC customers only. You won’t be able to apply for the switch offer if you’re an existing HSBC current account customer. Existing First Direct current account users are also excluded.
How to get the HSBC Premier switch offer
As long as you’re eligible for the account, you’ll need to complete a full switch using the Current Account Switching Service (CASS), which will close your old account. You need to switch from a different bank. This switch needs to complete by 12 August 2025.
As part of the switch you must move over your current monthly salary, which must add up to the equivalent of £100,000 or more. So if you plan to use a dummy account you’ll need to get your HR team at work to swap where they send your pay.
You’ll also need to switch over two direct debits from your old account as part of the switch.
You’ll then need to keep the account open and pay those direct debits until 31 October 2025.