HSBC current account switch offer worth £170 springs up
A new current account offer from HSBC UK could see those switching to an Advance or Premier current account receiving £170 cash into their account, the bank has announced.
This offer runs from 9th May and is available alongside a separate offer which provides 6 months’ cashback on HSBC UK’s innovative ‘mix and match’ insurance offer, Select and Cover, worth an additional £117.
Tom Wolfenden, HSBC UK’s Head of Retail, said: “Recent HSBC UK research showed that the increase in the cost of living is starting to bite, with a significant increase in those who say they have no disposable income but are taking proactive steps to balance the household budget.
“Eight in ten people are looking to implement additional changes to those they have already put in place, which shows people are trying to get a grip on their finances. While cutting back on everyday and occasional spending or cancelling any unwanted or unused subscriptions could help, taking note of the wide range of offers that could provide discounts or even cash, could make your money go further or go a little way to reducing the impact of the increase in the cost of living.”
On top of the new £170 switching offer and the ‘mix and match’ insurance offer, HSBC UK has five useful tools available to help support people with the increase in the cost of living:
Balance after bills: HSBC UK’s Balance After Bills feature gives users an easy way to manage spending and make better financial decisions by simply showing them how much money they have left until payday after regular outgoings. The feature promotes better budgeting by providing insight into available funds from one month to the next and is currently used by around 3 million customers monthly.
Subscription management tool: HSBC UK has also launched a subscription management tool (i.e. being able to see and cancel your recurring card payments like on-demand TV subscription services etc) to all customers on mobile. Our customers have cancelled over 200,000 subscriptions so far this year - around 2.5k a day.
Financial Fitness Score Tool: To help people get to grips with their financial fitness, HSBC UK also offers a quick service through our website that can analyse people’s spending, borrowing and savings habits to give them a ‘fitness score.’ The result of this test will signpost to tips and support on ways to improve financial health, with the option of retaking the test at a later date to see an updated score.
Educational resources: HSBC UK offers a broad range of educational resources around topics such as budgeting, as well as a budget calculator to help people take control of their spending. There is also additional support and guidance available for those who may be struggling more with their finances through: Money Worries | Support With Your Finances - HSBC UK
Support to get into investing: HSBC UK also provides a lot of online resources to help people learn about investing. Through HSBC My Investment, we offer an online investment service available to the bank’s UK customers that allows people to invest with a starting amount of £50 per month, a lump sum of £1,000, or both, after completing a risk tolerance questionnaire.
For more information visit hsbc.co.uk