HSBC Premier vs iFAST Global Bank: Switch Bonus Comparison
HSBC Premier offers the better net value at £500 vs £0 after fees.
- 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
- Switch salary/pension via Bacs Direct Credit (not CASS)
- Receive at least 1 payment between 1 Feb – 30 Apr 2026
- No need to close existing account
- £500 paid within 70 days of qualifying
- No monthly fee
- Worldwide travel insurance
- 2.65% AER on GBP balances
- Multi-currency accounts (USD, EUR, HKD)
- Early salary access (1 business day before payday)
Verdict: HSBC Premier vs iFAST Global Bank
iFAST Global Bank has no income requirement, while HSBC Premier requires £100,000/yr.
Frequently Asked Questions
Which has the higher switch bonus, HSBC Premier or iFAST Global Bank?
Currently only HSBC Premier has an active switch bonus. iFAST Global Bank does not have an active offer at this time.
Can I switch to both HSBC Premier and iFAST Global Bank?
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 HSBC Premier and iFAST Global Bank?
Cooling-off period data is not currently available for these banks. Check the individual bank pages for the latest information.
Which bank is easier to switch to, HSBC Premier or iFAST Global Bank?
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.