HSBC launch £220 offer to switch banks - but how does it stack up against the competition? (opens original article in a new tab)

HSBC UK launched a £220 switching bonus for current accounts, positioning itself as a top competitor in the market, though experts suggest other accounts might offer better long-term value.

• HSBC UK offers £220 cash incentive for switching current accounts via CASS with specific requirements
• Personal finance experts note rival accounts like Santander's Edge may provide higher long-term value through ongoing benefits
• Other banks such as Santander, First Direct, Nationwide, and Lloyds also offer competitive switching bonuses and savings deals