New HSBC announcement as customers ‘can get £750 paid into accounts’

HSBC UK has introduced a new £250 welcome incentive for clients who transfer to its Premier Bank Account. In an announcement on Tuesday, the bank announced that, from March 23, 2026, onwards, qualifying customers could claim £250 cashback when they moved their current account to HSBC Premier via the Current Account Switch Service (CASS) and satisfied the account eligibility requirements.

Clients can become eligible for the incentive by depositing an annual personal salary of £100,000 or above, or by establishing a Premier account and holding £100,000 or more in savings and investments with HSBC UK.

Carl Watchorn, head of Premier Banking at HSBC UK, said: “HSBC Premier is built to deliver real, ongoing value for our customers, not just a place to hold your money. This introductory incentive is a simple way to experience that value from day one, alongside a range of benefits designed to support how our customers live, bank, and grow their wealth over time.”

HSBC stated the launch “forms part of HSBC UK’s broader efforts to support customers in growing and managing their wealth”. Earlier this month, the bank unveiled a new ISA incentive aimed at encouraging savers to maximise their annual tax-free allowance and establish long-term financial security.

This, it noted, means that new clients could receive up to £750 in cashback if they make use of both offers. Premier customers also benefit from exclusive access to numerous privileges, including worldwide account facilities, travel and lifestyle advantages, plus various rewards. These encompass health benefits and services, complimentary global travel insurance, and direct contact with wealth specialists.

To be eligible for the new promotion, HSBC stated applicants must be UK residents aged 18 or above. They must establish an HSBC UK Premier Bank Account on or after March 23, 2026, and before the promotion concludes.

Within 90 days of opening the account, customers must satisfy Premier requirements by either executing a complete switch to their Premier Account from an existing current account via the CASS switch service, including depositing an individual annual salary of £100,000+.

Generally, this involves paying in no less than £5,100 each month, or depositing and retaining £100,000 or more in savings and investments with HSBC UK.

To maintain their Premier Bank account, customers must continue satisfying the account eligibility requirements. Should they no longer qualify, HSBC may need to reassess their account status.

Those ineligible include existing HSBC UK or first direct current account holders, or individuals who have held an HSBC UK or first direct account on or after January 1, 2025.

Upon fulfilling the promotion requirements, the cash reward will be transferred in GBP into the new Premier Account within 70 days. This promotion is valid once per individual. If customers hold a Joint Account (be it a joint current account or joint savings/investments), they are only entitled to one welcome bonus per account, not one per individual.

The reward will only be disbursed if customers maintain their status as eligible Premier Account holders with an active account that is neither restricted nor suspended at the time of the reward.