HSBC vs Virgin Money: Switch Bonus Comparison
HSBC offers the better net value at £200 vs £150 after fees.
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- Full CASS switch required
- Full CASS switch required
Verdict: HSBC vs Virgin Money
HSBC offers the higher switch bonus at £200 vs £150.
Frequently Asked Questions
Which has the higher switch bonus, HSBC or Virgin Money?
HSBC currently offers the higher bonus at £200, compared to £150 from the other bank.
Can I switch to both HSBC and Virgin Money?
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 and Virgin Money?
The cooling-off periods are: HSBC: 12 months, Virgin Money: 12 months. During this time you cannot switch away without potentially losing your bonus.
Which bank is easier to switch to, HSBC or Virgin Money?
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.