Barclays vs HSBC Premier: Switch Bonus Comparison
HSBC Premier offers the better net value at £500 vs £0 after fees.
- Open via Barclays app
- Sign up to Blue Rewards
- Full CASS switch with 2 active direct debits
- Pay in £2,000 within 30 days
- Cannot have held a Barclays current account on or before 17 Feb 2026
- Open a Premier account on/after 23 Mar 2026 (UK resident, 18+)
- Within 90 days: full CASS switch + pay in £100k+ salary (~£5,100/mo)
- OR deposit and keep £100k+ in HSBC UK savings/investments (90 days)
- Must keep meeting Premier eligibility criteria
- Not held an HSBC UK or first direct account since 1 Jan 2025
- Apple TV+
- MLS Season Pass
- 4%+ Rainy Day Saver on up to £5,000
- Cashback on household bills and partner retailers (with Blue Rewards)
- £500 paid within 70 days of qualifying
- No monthly fee
- Worldwide travel insurance
Verdict: Barclays vs HSBC Premier
Barclays comes with more perks (4 vs 3), including things like apple tv+.
Barclays has no income requirement, while HSBC Premier requires £100,000/yr.
Frequently Asked Questions
Which has the higher switch bonus, Barclays or HSBC Premier?
Currently only HSBC Premier has an active switch bonus. Barclays does not have an active offer at this time.
Can I switch to both Barclays and HSBC Premier?
Yes, you can switch to both banks, but you need to do them one at a time using the Current Account Switch Service (CASS). Complete one switch, wait out the cooling-off period, then switch again to the second bank.
How long is the cooling-off period for Barclays and HSBC Premier?
The cooling-off periods are: Barclays: 24 months. During this time you cannot switch away without potentially losing your bonus.
Which bank is easier to switch to, Barclays or HSBC Premier?
Both banks use the Current Account Switch Service (CASS), which makes the process straightforward. The main differences are in specific requirements like minimum pay-in amounts, number of direct debits, and whether you need to use their app. Check the requirements comparison above for full details.