HSBC Premier bank switch: £500 voucher

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.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

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 2 February 2026. The card must be activated by 30 April 2026.

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. You need to book this by 30 April 2026 and use it before 31 July 2026.

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 on or before 27 July 2025. 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 17 October 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 December 2025.

When will the offer end?

The offer ends 28 August 2025, which is the last date to apply for the account. You can still then activate the switch as per the conditions we’ve listed above.