High street bank HSBC has confirmed its £200 switch offer will end this Thursday.
The bank launched the current account switch bribe in November - the largest switching incentive seen in recent years.
The switch offer, still the most generous offer from any bank on the market, now has an end date which HSBC has announced as being in two days' time.
If you are looking to switch your bank account to HSBC, you may want to consider getting it done before midnight on December 22.
After this date, you won’t be able to cash in the free money.
To get the money, new customers will need to apply for either the HSBC Advance or HSBC Premier account using the Current Account Switch Service.
You also need to set up at least two direct debits or standing orders within 30 days of opening the new account, plus deposit at least £1,500 within 60 days to benefit from the incentive.
Once this has been done, the £200 cash will then be paid within 20 days.
Sadly you won’t be eligible for the cash if you have held an HSBC or First Direct bank account since January 1, 2019.
Those who live on a Channel Island or the Isle of Man are also not eligible for the money as well as those who have completed a manual switch rather than through CASS.
Several other banks are also offering cash incentives to switch, which may be particularly useful at a time when people are struggling with the cost of living crisis.
First direct is currently offering a £175 switching incentive for its first direct 1st Account. Halifax offered the same amount however that offer closed this week.
Some banks also offer a bonus for simply opening an account, however, sometimes they do require a referral link.
First Direct can give £20 for just signing up, Monzo offers a £5 welcome reward and TSB can provide you with between £20 to £40 cashback for opening an account.
