HSBC, Lloyds and Barclays exclude their basic accounts from switch offers. You can still switch a basic account away from another bank. What the terms say.
20 Oct 2026 · 3 min read
Opening a basic account won’t get you a switch bonus at the banks we cover. The offers are for each bank’s standard current account, and the terms name the basic account as excluded.
Switching a basic account away is different. If you hold a basic account at one bank, you can usually switch it to another bank’s standard account and get that bank’s bonus, as long as the new bank approves you for the standard account.
What the terms say
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HSBC says "HSBC Bank Account only (Basic Bank Account not eligible)".
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Lloyds lists "Basic Account" among the accounts that don’t qualify, along with Student, Smart Start and Under 19’s accounts.
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Barclays won’t pay if "You’re only eligible for a Barclays Basic Current Account".
Why the bank might offer you basic
Banks offer a basic account when an application for the standard one doesn’t pass their checks. That often happens with a thin or empty UK credit file, after a recent move to the UK, or after missed payments.
If that’s you, the bonus account is the step to wait on. Build your credit file for a few months first, then apply for the standard account.
A basic account can be the account you switch from, and that is often the best use of one.
Using a basic account as your spare
Switch offers move one account and close it. A basic account you don’t use for your salary can be the one you switch, as long as it can hold direct debits. Set up the direct debits the new bank wants and let each one collect before you ask to switch.
What we do about it
Bank Switcher plans each switch from a spare account so your salary account stays put, and it explains how to build a UK credit file if you’re new here. This is general information and isn’t financial advice.