Switching to HSBC
The Current Account Switch Service has been designed to be simple, reliable and stress-free.
Once your account has been opened, it will only take 7 working days to switch.
HSBC current accounts offer a range of great features and benefits
- Exclusive offers for current account holders
- Award winning products
- Support network across branch, telephone and online banking
- HSBC UK Mobile Banking app
- Online tools, calculators and resources
- Range of international services
Click here to find out more about our range of accounts
How the Current Account Switch Service works
You can choose your switch date
Once your new account is open you can choose any date to be your switch date, as long as it is in at least 7 working days’ time i.e. seven working days’ time is the earliest you can switch.
Talk to our staff about switching to HSBC on a date that suits you. You can either do this in one of our branches or call us providing you have a UK based current account.
We’ll let your old bank know you’re moving and ask them to close your old account once everything has been transferred safely. Once this process has started, only certain elements can be cancelled.
Your old bank will automatically send us details of your regular payments (Direct Debits, standing orders and bill payments).
Days 3 and 4
We’ll set up all the payment mandates on your new current account, inform all your Direct Debit originators that you've moved banks and give them your new details. If your salary is paid into the account you are switching from, your employer will also be notified so your salary can be redirected.
Day 7 (the switch date)
Your old bank account will close and any remaining credit balance will be transferred to your new current account. We'll write to you to let you know the switch is complete.
We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
Ready to switch?
The Current Account Switch Service takes the hassle out of moving your current account. To switch, you’ll need to open an HSBC Current Account. Once you have an account, you can start switching online. You’ll need your HSBC account details, the details of your existing account with your current provider (including debit card numbers) and some identification.
Our switching offer is only available online, but we’re still here in branch and over the phone for those who need our support.
Check if you’re eligible
Find out if you’re likely to get an arranged overdraft with a current account, without affecting your credit score.
Using this tool won’t affect your current arranged overdraft if you already have one with us.
Things you need to know
Current Account Switch Guarantee
We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.
- The service is free to use and you can choose and agree your switch date with us
- We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary)
- If you have money in your old account, we will transfer it to your new account on your switch date
- We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details
- If there are any issues in making the switch, we will contact you before your switch date
- If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges incurred on either your old or new current accounts as a result of this failure.
If your bank isn’t a part of the Current Account Switch Service (CASS), you can switch manually at no cost by giving us your old / new account details. We’ll then contact the other bank for you.
If you are switching your UK based current account into HSBC, you can contact us to initiate the request. We will ask you to confirm that your direct debit and standing order details are correct, which will be provided by you or your Old Bank. If any direct debits and standing orders are initiated by a third party (e.g. your employer), you will need to inform the creditor about your New Account details. We will request the Old Bank to transfer any credit balance to your current account with HSBC, and on your instruction communicate to close the account. The whole process will take approximately 12 working days (excluding the time taken for a response from your Old Bank or you).
If you are switching out of HSBC into another UK based financial institution, we will send out a list of your Direct Debits, Standing Orders within 5 working days to your New Bank. We will transfer out the balance and close the account on the switch date as per communication received from your New Bank.
If your new bank or building society agrees, bank accounts that include an overdraft can switch using the Current Account Switch Service. And if you’d like to have an overdraft with your new bank account, speak to your new bank or building society before starting your switch.
Your new bank or building society will be able to advise if you’re eligible for an overdraft, dependent on their lending criteria and your credit status.
If you are switching out to an EU based financial institution, we will share a list of active direct debit, standing order and regular credits from your existing account over a period of the last 13 months. Upon your request, we will transfer any positive balance remaining and close the account.
If you are unhappy with any aspect of this service, please visit feedback and complaints.