HSBC UK has announced it is doubling its Premier switching incentive to £500, effective immediately. The offer applies to new customers who switch their current account to an HSBC Premier Bank Account using the Current Account Switch Service (CASS) and meet eligibility criteria.
Customers who applied under the previous £250 cashback offer, launched in March, will also receive the full £500. To qualify, customers must pay in an annual personal salary of £100,000 or more, or maintain £100,000 or more in savings and investments with HSBC UK.
Carl Watchorn, head of Premier Banking at HSBC UK, said: “HSBC Premier is designed to deliver meaningful, long-term value for our customers. By increasing our switching incentive to £500, we’re making it even more rewarding to experience the full benefits of Premier from day one.”
The enhanced offer is part of HSBC UK’s focus on building financial resilience. Combined with a recent ISA incentive, new customers could earn up to £1,000 in cashback. Premier customers also receive health benefits, travel insurance, and preferential rates on loans and mortgages.
Applicants must be UK residents aged 18 or over, open an account on or after March 23, 2026, and complete a full switch within 90 days. Existing HSBC UK or first direct current account holders are not eligible. The cash reward will be paid within 70 days of qualifying.
