Chase vs HSBC: Switch Bonus Comparison
HSBC offers the better net value at £220 vs £0 after fees.
- Full CASS switch required
- Offer applies to the standard HSBC Bank Account (via HSBC UK app)
- Full CASS switch incl. 2+ direct debits within 60 days
- Deposit £2,000+ within 60 days
- Spend £500 on the debit card within 60 days
- Not held an HSBC or first direct account since 1 Jan 2023
- £220 paid within 60 days of qualifying
- No monthly fee
Verdict: Chase vs HSBC
HSBC comes with more perks (2 vs 0), including things like £220 paid within 60 days of qualifying.
Chase has the better regular saver rate at 6.5% vs 5%.
Frequently Asked Questions
Which has the higher switch bonus, Chase or HSBC?
Currently only HSBC has an active switch bonus. Chase does not have an active offer at this time.
Can I switch to both Chase and HSBC?
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 Chase and HSBC?
The cooling-off periods are: Chase: 0 months, HSBC: 12 months. During this time you cannot switch away without potentially losing your bonus.
Which bank is easier to switch to, Chase or HSBC?
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.