HSBC issue 60-day countdown to claim free £220 for hitting three easy criteria

Fancy £220? Well, HSBC UK will give it to you, but you've got to act quick!

Money is tight throughout the UK, with the Cost of Living Crisis continuing to hit everybody where it hurts.

Rent, groceries and petrol prices have been going up for years, but the USA's war with Iran in 2026 has seen oil prices skyrocket even higher.

The pinch is tight, so it's little wonder the idea of getting an early pension payment of £12,500 appeals to so many.

Elsewhere, enterprising savers are eyeing up every deal and offer they can to make their money go further,

Barclays are offering new customers a free £200 this summer, while Lloyds have informed holidaymakers about how they could save £100 with a simple switch.

Now HSBC has got in on the act as banks compete with each other to claim as many new customers as possible.

Here's how you can pocket £220 with the bank within 60 days.

HSBC's £220 switching offer

Over four million people will get £100, but you need to have met the criteria by the end of March (Getty Stock Photo)

HSBC launched a new switching offer to entice customers to their bank on Monday, June 15.

New customers who make a switch to HSBC will be in line for a cool £220 straight into their account, as long as certain criteria is met within 60 days.

To qualify for the gift, customers must complete a full switch from another bank account, which includes transferring at least two direct debits.

After that, they must then pay a minimum of £2,000 into the account and then spend £500 of it with their HSBC UK debit card within 60 days of opening the account.

So after you've opened a HSBC UK bank account through the app, it's just three easy steps to get your money:

1. Transfer at least two direct debits
2. Deposit at least £2,000
3. Spend at least £500

"With our new £220 incentive, there are more reasons than ever for customers to switch to HSBC UK," Tata Bedelian, Head of Current Accounts at HSBC UK, said, via the Daily Record.

"The account has a number of customer-only benefits, including access to Global Money, our multi-currency account offering our best exchange rates.

"Once new customers have switched their everyday banking to us and met the offer criteria, the bonus will be paid within 60 days."

As well as the handy bonus of £220 in their pocket, HSBC customers will also benefit from access to the bank's Global Money Account.

This allows users to hold and manage multiple different currencies. There are also additional offers and discounts on shopping, dining and travel.