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A major bank is offering a rare chance to claim £205 for free – and you do not even have to switch current accounts to cash in.
HSBC’s new multi-currency accounts are willing to pay new customers £125 if they jump through a few simple hoops – and a further £80 to those willing to follow a few more steps.
The offer expires at midnight on Monday however, so anyone hoping to get a cash boost in time for Christmas has just hours to claim the offer.
Here, Telegraph Money outlines the basic steps.
How to claim free money from HSBC
The terms and conditions of the offer state that you cannot have held an HSBC current account, or opened a First Direct current account, since October 2018.
Customers who opened their First Direct accounts before that date are eligible.
Firstly, open an HSBC Advance account.
You do not need to switch from your existing bank to do this, and opening the account will also give you access to a 5pc regular saver, into which you can put £250 a month. (Read our top picks for savings accounts here).
After this, to claim the initial £125, you must first make at least five debit card transactions – although there is no minimum spend per transaction.
You must also pay a total of £1,500 into the current account. This can then be immediately withdrawn, provided you have already made the aforementioned five transactions.
Next, log in at least once to the bank’s mobile app, open the app-only HSBC Global Money currency account, and order the multi-currency debit card.
The Global Money account is the one which receives the £125 once you have completed the above steps – and you should expect to see it within 20 days.
It allows customers to hold money in 18 different currencies, and make transfers to over 200 different countries in more than 50 currencies.
There are a few more steps to tick off if you want an additional £80, although it mercifully does not involve making use of the card’s multi-currency functionality.
Firstly, you have to make another five purchases, this time using the Global Money debit card – although this can also be in pounds and there is no minimum spend.
Secondly, you have to keep the account open until early May 2024, when the money will be paid in. The money will only be paid if you have already received the £125, and you will be entered into a draw for one of 24 £3,000 cash prizes, but you can opt out.
Moneysavingexpert.com founder Martin Lewis has been urging couples to double up on the chance for free money.
He said: “If you’re a couple, and I have already had many people doing this, both of you can do it.
“So there’s £205 each, which would be £410 between the two of you.”