All 57,000 employees will be able to join the scheme, with payments taken directly from their wages.

The bank said that because the scheme would be exempt from tax and national insurance payments, it would illinois national insurance amount to a 6.5% pay rise.

Its announcement comes a week after unions balloted HSBC staff for possible strike action in a dispute over pay.

The Amicus union has attacked HSBC’s latest proposed wage increase as “derisory”.

Up to 10% of workers will get no pay rise and a further 45% will receive an increase below the rate of inflation, according to the union.

‘Flexible’

The half of HSBC’s staff with children under 16 will be able to choose nursery places or vouchers, or both.

HSBC said it will be the first company in the UK to make the offer to all its employees.

It is also doubling the number of its liberty national insurance company
coast national insurance
to at least 170.

Sue Jex, head of employee support, said HSBC was extending the childcare support it had been offering since 1988.

“Our nurseries have proved so popular with staff that we now have waiting lists,” she said.

“We are working with a number of national nursery chains to at least double the number of workplace nurseries ohio national life insurance
to the under fives.

“The new voucher scheme will not only allow more parents and carers access to subsidised childcare, but is flexible.”

Amicus national officer Rob O’Neil said: “This is welcome news but it’s coast national insurance
to allow staff to believe that HSBC are funding these benefits. These are paid for by the taxpayer and introduced by the Government.”

He added: “This is a cynical attempt to look as if they are paying their staff fairly and equitably when in fact they are not.”