Are you rich enough to get a free £500 Selfridges shopping trip with your HSBC account?
HSBC has launched a switching deal to entice wealthy customers to switch to its Premier Account.
The offer is only available to those who pay a salary of £100,000 into the account.
And those who switch to HSBC's Premier account will get not get a cash bung as with usual bank switching incentives… but a £500 Selfridges voucher and the option to have a VIP shopping experience instead.
HSBC relaunched its premier account in February and the bank made no bones about the fact it is trying to attract affluent customers.
The bank said: 'The offering echoes the demands of affluent customers for services that support and enhance their lifestyle.'
To get the £500 Selfridge's voucher, new customers must complete a full switch to HSBC's premier account through the Current Account Switch Service (CASS) by 12 August.
A salary of £100,000 minimum must be paid into the account directly by customers' employers by BACS.
At least two direct debits must also be transferred as part of the switch The monthly salary payments and two direct debits must be maintained until 31 October to get the voucher.
Customers must not have had a HSBC account or First Direct account already to be eligible for the switching deal. If customers are eligible, they will be sent an email to claim the Selfridge's voucher on 9 November.
Customers can opt for a VIP shopping experience at one of the four Selfridges UK stores in London, Birmingham, Manchester Trafford, and Manchester Exchange Square.
The VIP experience includes access to the Selfridge's Lounge and a complimetary drink as well as the £500 voucher. Customers can also choose to take the £500 voucher without the shopping experience.
The bank account has no monthly fee and comes with perks ranging from GP appointments to free worldwide travel insurance.
Customers will be able to access online health services through a new HSBC Health app, including digital GP appointments, remote physiotherapy and mental health support.
Travel perks like free worldwide family travel insurance with cover for dependents travelling up to age of 23 are also offered with the acount, as well as referential rates on foreign exchange and international payments.
HSBC Premier customers can also get wealth management advice and preferential rates on savings and mortgages.
Premier banking boom
There has been a small boom in banks offering premier current accounts in a bid to attract the money of wealthy customers, which in turn gives them the ability to try and tap into that wealth to sell other services, such as investments.
Last week Lloyds Bank launched its premier account geared towards wealthy customers with an income, savings or investments of at least £100,000.
Jo Harris, of Lloyds, said: 'Lloyds Premier is a strategically important milestone in our growth ambitions for affluent customers - a part of the market where we have historically been under-represented.'
Customers can also get the account if they are able to fund it with £5,000 a month.
The monthly account fee of £15 will be refunded each month a customer meets the eligibility criteria.
It too comes with a range of perks, which Lloyds claims to be worth £100 month.
It offers GP and wellbeing services, lifestyle benefits, travel perks, cashback, discounted mortgage rates and appointments with financial coaches.
The Bupa Family GP subscription service provides access to online GP and nurse consultations, online physiotherapy sessions and online mental health treatment sessions.
It also comes with 1 per cent cashback on debit card spending, capped at £10 each month.
Meanwhile, Barclays' Premier account lets customers earn up to 15 per cent cashback on eligible card transactions with a Barclays Visa debit card linked to a Cashback Rewards account.
Customers need to earn at least £75,000 or have £100,000 savings or investments to qualify for the Barclays deal.
NatWest also has a premier account which requires customers to have an annual income of £100,000
To qualify, you also need a mortgage, investment, life insurance or protection policy with the bank.
Customers can also qualify with the same sum in savings or investments, or a half a million pound NatWest mortgage.
In return, customers get worldwide family travel insurance, exclusive airport lounge service and a premium 24-hour helpline.
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