Latest news with #PremierAccount
The Independent
01-07-2025
- Business
- The Independent
£185 in cash and free cinema tickets: July's best offers to switch banks
Millions of people have switched their main bank using the Current Account Switch Service (CASS) – it's free, easy and can move you, your money and your payments from one bank to another in around a week or so. Usually, though, people aren't just moving for the fun of it, of course: banks and building societies have a pretty fierce battle for your custom and so, from time to time, some will offer incentives to switch to them worth hundreds of pounds. Every month we run down the very best of them, but as ever it's important to look beyond just the initial cash offer you'll receive and make sure that the rest of the perks, the terms and the fees associated with any accounts suit your circumstances and needs. A bank should work for you and so should your money – so here are the best offers around at the moment to consider. Lloyds: £185 Launched from the start of July, Lloyds Bank will give you £185 in cash, a market leading initial sum, but you have to open a specific type of account with them. Those are either a Club Lloyds or a Premier Account, both of which have fees. We'll focus on the Club Lloyds here as the Premier requires an income or assets of over £100,000. The Club account is £5 a month but this is reimbursed if you put in more than £2,000 a month – a good example of why you should always make sure the account suits your needs. In addition you'll get access to a savings account offering 6.25 per cent, plus the choice of an extra perk – cinema tickets, a coffee club membership for reduced price food and drink, a Disney plus subscription or other similar bonuses. Check out more about the offer here. Nationwide: £200 If you're already a Nationwide member through a mortgage, ISA or other product, you might be eligible for a switch bonus of £200 – but as it's not for all switchers, it can't reasonably be called the market leader at this stage. This offer runs up until 10 July so if you're already with them for one of your services and want to move your current account to the building society too, it might suit you – but you need to move fast. Santander: £180 There are three different account types with Santander which you can switch to and get £180, ranging from free to a £5 monthly fee and with their own different perks and bonuses included. Cashback on household bills, interest on balances and no fees when spending abroad are among the different considerations when choosing between the account types. A long-running offer which had previously been the market leader, first direct, owned by HSBC, offers £175 for switching. It also gives access to a high-interest saving account offering a hefty 7 per cent rate, for up to £300 a month, with a 'no fees abroad' debit card also included which might appeal to some frequent travellers. Alternatives There are quite a few banks currently offering either lower amounts or different types of perks when joining. Zopa don't offer a joining fee but give interest on account balances as well as a higher 7.1 per cent rate savings account. Natwest offer £125 for switching and an extra £50 for opening a savings account afterwards. Others may offer better cashback rates, foreign exchange rates or other perks which are of interest. Remember to check Always, always ensure you are eligible for any bonuses before starting the switch process – you often cannot get the cash bonus if you've had an account with the bank or building society over the last few years, or if you've benefited from the bonus previously. That also extends to brands owned by the same bank – so for Lloyds, you can't have had it for Halifax, for example. Usually you'll also need a certain amount of direct debits to be switched, deposit a certain amount and do other tasks like log in to the app within a certain timeframe, so make sure the bank account you choose suits your needs completely.
Yahoo
23-06-2025
- Business
- Yahoo
HSBC UK cuts financial advice fee to 1% for Premier customers
HSBC UK (HSBA.L) is reducing its financial advice fee for Premier customers as part of a promotion the bank is running until the end of the year. It will charge a fee of 1% (or a £960 minimum charge) for those taking advice. Previously, it charged 2.75% in the majority of cases, with some variations. The move is part of wider efforts by the bank to step up its offering for 'mass affluent' customers, which included a relaunch of its Premier account in February. In addition to the new lowered fee, HSBC UK also recently reduced the minimum asset threshold needed for customers to access its premier investment management service, from £250,000 to £100,000. It also recently launched a switching incentive for new Premier customers, offering those eligible a 'VIP shopping experience' at Selfridges stores, with a £500 gift card and other perks. Xian Chan, head of Premier Wealth at HSBC UK, said: 'There are numerous scenarios where a customer might benefit from receiving financial advice, for example if they are planning for the long-term, have more sophisticated financial needs, or are facing a life milestone such as buying a home or preparing to retire.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Independent
30-05-2025
- Business
- The Independent
High-street bank offering £500 gift card to new customers – see if you are eligible
HSBC UK is offering a "VIP shopping experience" at Selfridges stores to new Premier customers, intensifying competition among major banks to attract affluent clients. The promotion includes a £500 gift card and other perks for those who meet specific criteria, such as earning a salary of £100,000 or more. To qualify, customers must fully switch to the bank's Premier account using the Current Account Switch Service (Cass). HSBC relaunched its Premier account in February. The bank said the account gives qualifying customers access to new and enhanced benefits focused on key themes of wealth, international, travel and health. 'We have redesigned our Premier offering to ensure our perks and benefits echo what our customers want from a premium bank account, all still without a monthly fee,' Sabine Fichaux, head of customer propositions at HSBC UK, said. The 'limited time' switching offer excludes existing HSBC and First Direct current account customers and is available to UK residents only. Full switches using Cass must be completed by 12 August, 2025. Eligible customers will be sent an email on or after 9 November, 2025 to claim their gift card. Last week, Lloyds Bank launched an account aimed at people with income or assets of more than £100,000. Lloyds' offer of an account combining financial perks with 'premium lifestyle services' is part of its moves to grow its presence in this part of the market. The Lloyds Premier account offers GP and wellbeing services, lifestyle benefits, travel perks, cashback, discounted mortgage rates and appointments with financial coaches, among its benefits. The account will also offer customers 'ready-made investment portfolios with zero management fees for the first year'. The deal also offers a 'Premier planning hub' within the mobile app, offering tools such as a 'net worth calculator' and 'wealth forecasting'. People can also access other perks such as fee-free spending abroad on debit cards, and cinema tickets.
The Independent
29-05-2025
- Business
- The Independent
Major bank moves to attract rich customers with ‘VIP experience'
HSBC UK is offering a "VIP shopping experience" at Selfridges stores to new Premier customers, intensifying competition among major banks to attract affluent clients. The promotion includes a £500 gift card and other perks for those who meet specific criteria, such as earning a salary of £100,000 or more. To qualify, customers must fully switch to the bank's Premier account using the Current Account Switch Service (Cass). HSBC relaunched its Premier account in February. The bank said the account gives qualifying customers access to new and enhanced benefits focused on key themes of wealth, international, travel and health. 'We have redesigned our Premier offering to ensure our perks and benefits echo what our customers want from a premium bank account, all still without a monthly fee,' Sabine Fichaux, head of customer propositions at HSBC UK, said. The 'limited time' switching offer excludes existing HSBC and First Direct current account customers and is available to UK residents only. Full switches using Cass must be completed by 12 August, 2025. Eligible customers will be sent an email on or after 9 November, 2025 to claim their gift card. Last week, Lloyds Bank launched an account aimed at people with income or assets of more than £100,000. Lloyds' offer of an account combining financial perks with 'premium lifestyle services' is part of its moves to grow its presence in this part of the market. The Lloyds Premier account offers GP and wellbeing services, lifestyle benefits, travel perks, cashback, discounted mortgage rates and appointments with financial coaches, among its benefits. The account will also offer customers 'ready-made investment portfolios with zero management fees for the first year'. The deal also offers a 'Premier planning hub' within the mobile app, offering tools such as a 'net worth calculator' and 'wealth forecasting'. People can also access other perks such as fee-free spending abroad on debit cards, and cinema tickets.
