Customers who are new to the bank can get the payment should they apply and start a full switch using the Current Account Switch Service (CASS) including a minimum of two Direct Debits and/or Standing Orders, within 30 days of the date of the account being opened.

It's important to be aware that "new to bank customers" must not be an HSBC current account holder on the date of the application.

Furthermore, they must not have been a current account holder with the bank on or after January 1, 2017.

Where an eligible current account is a joint account, at least one of the joint account holders must complete the switch from either a sole account in their own name or another joint account in the same names.

DON'T MISS

This particular offer is open to first direct and M&S Bank current account customers, as long as the current account was opened before January 1, 2017.

There are some conditions to meet for an HSBC UK Advance Account.

These include customers qualifying for a minimum £1,000 arranged overdraft and paying at least £1,750 per month in to the account each month, or a minimum of £10,500 every six months.

This does not include money transferred from any other sole or joint personal accounts which are held with HSBC UK Bank.

Royal Bank of Scotland is currently offering £100 to new and existing customers switching their main bank account via the Current Account Switch Service.

Those who are new to Royal Bank can apply to switch to a Select or a Reward account, as can existing customers - who can also apply to switch to Reward Silver, Reward Platinum or Reward Black.

Lloyds Bank is also, at the time of writing, offering a £100 current account switcher bonus.

Meanwhile, Metro Bank is offering a £50 'Refer a Friend' offer, with customers able to earn up to £250.