You can get £170 by changing your current account bank

Bank customers looking to get some extra cash can earn £170 by switching current accounts. The deal is currently being offered by HSBC as the cost of living rises.

Anyone looking to transfer their money to the giant’s advance or leading banks can earn the extra sum. It will work alongside the bank’s existing offer which offers six months cash back on the bank’s insurance offer called Select and Cover – meaning customers can also pocket an additional £117.

HSBC head of retail Tom Wolfenden said the offer will help customers tackle the cost of living crisis. Speaking to Moneyfacts, he said: “While cutting back on daily and occasional expenses or canceling any unwanted or unused subscriptions can help, take note of the wide range of offers that could offer discounts, or even cash , could make your money grow or help a little to lessen the impact of the rising cost of living.”

Certain conditions must be met. Therefore, anyone switching to one of the two accounts will need to transfer two direct debits or standing orders within 60 days. And the current account switching service must be activated within 30 days on both types of accounts.

Both accounts will require customers to pay at least £1,500 in the first 30 days. While the HSBC Premier account also requires customers to have an income above £75,000.

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