Premier Bank Account
Switching bonus from HSBC
Bonus
£500
Penny's take
Strong reward, but only for high-net-worth switchers. The £500 bonus is one of the more generous switch incentives available, and it comes with a fee-free account that includes genuine extras - worldwide family travel insurance, digital GP access and preferential rates on HSBC products - making the ongoing value solid for those who qualify.
The single biggest catch is the £100,000 deposit requirement within 90 days, which immediately rules this out for most people. If you have that level of assets and want a premium account anyway, this is excellent value with little extra effort - but it is not a realistic option for the average switcher.
Requirements at a glance
Deposit requirement
Direct Debits
Transactions
Monthly fee
Online Banking
How to qualify
Requirements
- •Switch using the Current Account Switch Service (CASS)
- •Deposit £100,000 or more into account, savings or investments within 90 days.
Things to check
- Requires £100,000 deposited into your HSBC account, savings or investments within 90 days of switching. Premier eligibility criteria apply.
Account Benefits
No monthly fee
HSBC Premier has no monthly account charge, subject to Premier eligibility.
Worldwide family travel insurance
Apply for Aviva worldwide cover for eligible family members; age, residency, medical and trip restrictions apply.
Online health services
Eligible customers and family members can access digital GP appointments, mental-health support and specialist second opinions.
Preferential banking rates
Access preferential rates or terms on selected HSBC loans, mortgages and savings products.
International banking access
Open and manage eligible HSBC accounts across more than 20 destinations through HSBC global services.