£200 for Switching Bank to HSBC Account
Money Saving
You can get the money by switching your current account to HSBC's Advance Account.
This is perfect to get before Xmas
To be eligible for the £200 bonus, you'll need to pay at least £1,500 into your account within 60 days.
I already switched last year to HSBC and got £125 so I cant get the higher bonus.
Take advantage of this if you can
Any other bonuses out there?
That’s a good offer, Martin Lewis regularly posts these bank switching deals on the MSE website
Midnightflower It's fairly easy.
I've already got an HSBC account so can't do this switch and besides, I quite like using Chase than the rest out there.
Just about every bank are giving money for switching to them . Could be jam today and problems tomorrow ? Not quite the same thing as switching your phone or broadband provider for a bribe . May impact your credit score (obviously) .
Many years ago we had a relationship with our local branch (and the manager !) . I presume it is all computerised these days ? I have been with my bank for many decades now , have not had any face to face dealings with them for the last 40 years .
If I ever need £200 I might consider switching , but for the time being "Better the devil you know "
Golfforall May impact your credit score (obviously).
If it's a bank which is FSCS covered it will, but if it's an EMI institution it won't.
Revolut, Wise, PayPal, and Monese are all EMI, for example. Still have my Wise account open if ever to make an international money transfer with a reference as it seems the cheap option via Starling does not include reference.
App banks that are FSCS: Starling, Chase, Monzo.
PhilipMarc They may be OK - but they don't hold a banking licence ? Certainly not FSCS covered . That may not be a problem as long as all goes well . FTX , not FSCS regulated , operated perfectly well until last week (through hundreds of global subsidiaries ) . Now bankrupt a multi billion dollar unregulated "financial institution " is giving excuses - not compensation to it's depositers .
Way above my pay grade to explain or even understand how these unregulated "quasi banks " operate but call me old fashioned but I prefer the comfort blanket of FSCS regulation and compensation when considering a place to squirrel away my hard earned .
Nothing to do with the switching bonuses given by all banks (The original topic ) but an expansion on the "quasi banks " you brought into the conversation .
Golfforall I just wouldn't rely on EMI to hold my money so for me it's either FSCS covered or cash.
Let's say Revolut, Monese, or Wise went bankrupt who's to say they'd keep their word and return the money to their clients.
Unstable times so got to be careful.
This seems like a good idea as they have enough money so they can give you some then they make more
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