BANK customers have just hours left to claim £200 in free money.
Banks and building societies regularly offer cash incentives if you switch your current account across to one of theirs.
HSBC is currently offering anyone who switches to its Advance Account a free £200 payment.
But the offer ends at midnight tomorrow, so if you want to bag the money you’ll have to move fast.
Remember, with most bank switches there are often specific terms and conditions you need to fulfil to get the bonus.
If you’re looking to get your hands on the £200 HSBC bonus you will have to start the switch, including at least two direct debits or standing orders, within 30 days of first applying.
You also have to pay in £1,500 or more within the first 60 days and can only make the switch if you’re a new customer.
You can’t make the switch if you have held a HSBC current account or opened a new First Direct account since January 1, 2020.
Plus, you’ll need to be aged 18 or over and qualify for an optional arranged overdraft of at least £1,000 to open an Advance Account.
If you meet all the criteria, you will receive the £200 bonus within 20 days.
You can apply for the Advance Account on HSBC’s website, or you can visit your nearest branch.
You can find your nearest branch by using HSBC’s branch locator on its website.
One major perk of the Advance Account is that you don’t have to pay monthly fees to maintain it.
Plus, if you qualify and sign up to the overdraft, you get a text if you’re overdrawn or about to be.
Switching banks is a simple process. In most cases, you can do it through the Current Account Switch Service (CASS).
Over 40 UK banks and building societies are signed up to the service, including HSBC, First Direct, NatWest, Nationwide and Monzo.
You can find the full list on the CASS website.
Through the service, you just have to apply for the new bank account and your old one will let the new one know you are moving.
If your application is accepted the bank will then offer to make the switch for you and ask you to choose a date to do it.
Your old bank should then talk to the new one and everything will be switched across, including your balance, direct debits and salary.
Lloyds Bank, First Direct and NatWest are all currently offering switching bonuses to customers.
Lloyds is offering £150, plus additional perks including the choice of 12 months of Disney+, six free cinema tickets and magazine subscription if you sign up to one of its current accounts.
There is a £3 monthly fee to maintain any one of the accounts though, unless you deposit £2,000 or more in each month.
Customers will also get access to a regular saver account which offers 6.25% interest.
Meanwhile, bank customers signing up to First Direct can get £175 free cash and access to a 7% savers account.
You just have to pay in £1,000 or more within three months of switching and then wait up to 28 days for the £175 to appear in your account.
NatWest is offering switchers £200, although you can’t get the bonus if you made a switch from NatWest, RBS or Ulster since October 2017.
To get the £200 you just have to open the account online or in-app, switch in the account then pay in £1,250 or more and use the app within 60 days.
The £200 should then be transferred within seven days.
Whenever you do make a switch to a new bank, make sure you consider everything that bank is offering you beyond the cash bonus.
For example, if you know you want to open up a savings account, check out which one has the best rates.
Or, if you prioritise good customer service, make sure you check out which one has the highest rating on websites like MoneySavingExpert.com.
Websites like MoneyFacts and Compare the Market, GoCompare and MoneySupermarket will help save you time and show you the best rates possible across the market.
