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You can earn

£220

Cash

HSBC are offering a £220 cash bonus when you open a new HSBC Bank Account and switch your existing current account using CASS. Deposit £2,000 and spend £500 within 60 days.

Complete in
30 mins
Payout
Within 60 days
Difficulty
Doable
Availability
Live

The short answer

What you do
Open a HSBC Bank Account via the app
When you get paid
Within 60 days
Main catch
Deposit or spend neededMust not have held an HSBC or First Direct current account since Jan 2023. App-only application.

Eligibility, full steps and terms are further down this page.

What you actually get: cash

Paid straight to you as money.

How to redeem
Lands in the bank account you sign up with - nothing to redeem.
Validity
No expiry once paid.
Can you cash it out?
Yes — it is real money
Verified by SmartPiggyLast checked 6 weeks ago · SmartPiggy teamHow we test

Refer-a-friend details

You get
£220
Qualifying action
Switch your current account to HSBC

Source: My Side Gig — All UK Refer a Friend Offers · last checked 2026-08-27

Get paid in 4 steps

Follow these in order. Skipping a step is the #1 reason rewards don't track.

Step 1: Open a HSBC Bank Account via the app

Step 1 of 4 — the sooner you complete it, the faster your reward tracks.

Step 2: Initiate a full switch via CASS with 2+ Direct Debits

Everyday spending counts — groceries, fuel, subscriptions. Refunds and gambling transactions don't.

Step 3: Deposit £2,000 within 60 days

Move the qualifying amount from your existing bank via faster payments. It arrives instantly and counts toward the bonus.

Step 4: Spend £500 on the debit card within 60 days

Everyday spending counts — groceries, fuel, subscriptions. Refunds and gambling transactions don't.

HSBC logo

HSBC — Global banking with big switch bonuses

Must not have held an HSBC or First Direct current account since Jan 2023. App-only application.

Am I eligible?

We haven't recorded eligibility criteria for this offer yet. Check the provider's own terms before you start.

Insider tips

  • Complete the whole flow in one sitting — leaving it half-done is the top reason £220 bonuses fail to track.
  • Take screenshots of each step in case you need to raise a support ticket later.
  • Add a calendar reminder for the qualifying deadline so you don't miss it.

Reward type

Within 60 days

Time to complete

30 mins

Withdraw via

Bank transfer

HSBC logo

About the provider

HSBC

Global banking with big switch bonuses

One of the UK's largest banks, offering competitive switch bonuses for new customers.

Safety

FSCS protected up to £85,000. Fully authorised by the FCA and PRA.

Fees

No monthly fee on the standard HSBC Bank Account.

Devices

Web · iOS · Android

Category

Bank

What we like

  • Large switch bonuses
  • No monthly fee
  • Global presence

Watch out for

  • Strict eligibility
  • Group exclusion with First Direct
Full HSBC review
Community codes

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FAQs

How long until I actually get the money?+

Payout timing isn't confirmed for this offer yet — check the provider's own terms before you start. Open an account via the app, switch via CASS, deposit £2,000 and spend £500 within 60 days.

Is this safe? Will it hurt my credit score?+

FSCS protected up to £85,000. Fully authorised by the FCA and PRA. This offer doesn't involve a credit check.

What are the fees?+

No monthly fee on the standard HSBC Bank Account.

Can I close the account after I get the bonus?+

Yes — once the reward has cleared and any minimum holding period has passed, you're free to close the account. We recommend waiting at least 30 days after the bonus lands to be safe.

What if the reward doesn't track?+

Contact HSBC support first with your sign-up date and screenshots. If you're still stuck, ping the SmartPiggy team and we'll help chase it up.

The small print

SmartPiggy may earn a commission when you claim this offer — it costs you nothing and helps keep our reviews free (affiliate disclosure). Rewards, timings and eligibility are set by HSBC. Always read the provider's full T&Cs before you sign up. When it comes to money, your capital may be at risk. See our editorial policy for how we score and re-check offers.

Last checked 6 weeks ago by SmartPiggy team.

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You get

£220