HSBC UK has launched a new switching offer of up to £220, which involves taking out a current account as well as regularly putting money into savings.
Customers can receive £100 after opening an Advance or Premier Account and meeting the criteria, which includes opening an Online Bonus Saver.
If customers continue to meet ongoing monthly criteria including making a monthly deposit of a minimum of £50 into their Online Bonus Saver they could receive up to a further £120 over 12 months as part of the offer, receiving up to £220 in total.
The Online Bonus Saver pays 4.00% AER (annual equivalent rate) on balances up to £50,000 and 2.30% AER on any part of the balance which is over £50,000.
However, a standard rate of interest of 2.00% applies to balances in any month where a withdrawal is made or the account is closed.
The interest rate including bonus is paid in any month where someone does not make a withdrawal or close their account.
The £220 offer is subject to certain terms and conditions.
To qualify for the initial £100 incentive, terms include using the Current Account…
