Standard Bank Account
Switching bonus from HSBC
Bonus
£220
Penny's take
Solid free-account bonus for confident spenders. At £220 with no monthly fee, this offer delivers genuine value — you keep every penny of the reward without ongoing costs eating into it. The free Home & Away discounts and Global Money access add modest extras, but the bonus itself is the main draw here.
The catch is the combined workload: you must switch via CASS, deposit £2,000, and spend £500 on the debit card, all within 60 days. That deposit requirement will rule out anyone without a lump sum to move across temporarily.
Requirements at a glance
Deposit requirement
Direct Debits
Transactions
Monthly fee
Online Banking
How to qualify
Requirements
- •Complete a full switch using the Current Account Switch Service (CASS), including at least two direct debits within 60 days.
- •Deposit a minimum of £2,000 into the account within 60 days.
- •Spend £500 using a debit card linked to the account within 60 days.
Account Benefits
No monthly fee
Use the HSBC Bank Account without paying a monthly account charge.
Home & Away
Access changing HSBC cardholder discounts on shopping, dining, travel and experiences.
Global Money access
Eligible customers can separately open the fee-free app-only Global Money Account to hold and spend supported currencies.