HSBC is a popular bank, and it helps millions of Britons each year with their savings goals. In a tricky environment for interest rates, many people are not feeling motivated to save, as returns are not favourable. However, banks are still keen for custom and the competition is increasing with regards to who can draw in savers.
A saver must also be able to provide proof of their address for the last three years, employment details and details of income.
Individuals must qualify for a £1,000 arranged overdraft, but do not have to have one if they do not want it.
Importantly, though, under the conditions of the account, Britons are required to pay in £1,750 or more each month, or at least £10,500 every six months.
To claim the reward, firstly Britons will need to open an HSBC Advance account as a new customer.
“People have more opportunity to switch from back gardens to pub gardens, switch from FaceTime to face-to-face time.
“Instead of staying local, people can switch to enjoying more of the country and some of the wonderful experiences it has to offer.
“Our current account offer will provide switchers to our Advance and Premier current accounts with £125 cash to help them move on from what has been a challenging year and a half and to celebrate as summer finally arrives.”
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