Eligibility criteria apply. Check terms on First Direct's website before applying.
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First Direct Offer Summary
Is First Direct Right for You?
Key Features
- Winner of Finder Customer Satisfaction Award 2024 and 2025
- 24/7 telephone and app support available 365 days a year
- £250 interest-free overdraft buffer (subject to status)
- No fees for debit card spending or ATM withdrawals abroad
- Access to Regular Saver Account at 7% AER (save £25-£300/month for 12 months)
- No monthly account fee
- Digital-first banking with mobile app, online and telephone access
Things to Consider
- No physical branches - digital and telephone banking only
- Overdrafts above £250 charged at 39.9% EAR variable
- Does not pay in-credit interest on current account balance
- Regular Saver Account limited to £300 per month maximum deposit
- Must be new customer - not eligible if held First Direct or HSBC current account since 1 January 2018
- Requires minimum £1,000 balance transfer and 2+ active Direct Debits for switching bonus
Eligibility Requirements
- Switch with 2+ Direct Debits or standing orders
- Deposit £1,000+ within 45 days
- Make 5+ debit card payments within 45 days
- Can't have had ANY First Direct product before
- Can't have opened HSBC account since Jan 2018
Always verify the current requirements on First Direct's website before applying, as terms may change.
How the Switch Works
First Direct uses the Current Account Switch Service (CASS), which guarantees your switch completes within 7 working days. All Direct Debits and standing orders move automatically, and payments to your old account are redirected for 3 years.
Day 1 — Apply & Request Switch
Complete your application and request the account switch via CASS.
Day 7 — Switch Completes
Direct Debits and standing orders are moved automatically. Payments to your old account are redirected.
First Month — Meet Requirements
Ensure all eligibility criteria are met, including any deposit or transaction requirements.
After Verification — Bonus Paid
If all criteria have been met, the switching incentive is typically processed.
Tips & Things to Watch For
Helpful Tips
- Bonus paid on 20th of month after meeting criteria
- Get an extra bonus by applying via cashback sites (See below)
- Best customer service rating: 92% "great"
- Many get £250 0% overdraft buffer
- 7% regular saver available (£300/month max)
Common Issues
- Not having Direct Debits or standing orders on the account when switch completes
- Missing the 45-day deposit deadline
- Forgetting the 5 debit card purchases
Need Direct Debits? If you don't have 2 active Direct Debits for the switch, you can support Scrimpr via Direct Debit (50p or £1/month) — it counts towards the requirement and helps keep this site free.
Get an extra £45 — Apply to First Direct through TopCashback to earn a cashback bonus on top of the switch offer.
Offer History
How First Direct's switch offer has changed over time.
| Offer | Period |
|---|---|
| £175 | Sep 2024 - Present |
| £175 | May 2024 - Jul 2024 |
| £175 | Mar 2024 - Apr 2024 |
| £175 | Aug 2022 - Jan 2024 |
| £150 | Jan 2022 - Aug 2022 |
| £130 | Dec 2021 - Jan 2022 |
| £100 | Nov 2021 - Dec 2021 |
| £130 | Nov 2021 |
| £100 | Oct 2021 |
| £100 | Jul 2021 |
| £125 | Jun 2021 |
| £100 switching in + £100 switching out | Feb 2021 - Jun 2021 |
| £100 switching in + £100 switching out | Dec 2019 - Mar 2020 |
| £50 switching in + £100 switching out | Jul 2019 |
| £100 | Jun 2019 - Jul 2019 |
| £125 | Apr 2019 |
| £100 switching in + £100 switching out | Mar 2019 - Apr 2019 |
| £100 | Dec 2018 |
| £125 | Dec 2018 |
| Various non-cash items | Apr 2018 |
| £125 | Jan 2017 - Apr 2018 |
Frequently Asked Questions
The switching incentive is only available to customers who meet all eligibility criteria. Not all applicants will qualify, and First Direct reserves the right to decline applications or withhold bonuses if requirements are not met.
When using the Current Account Switch Service (CASS), your previous account is typically closed automatically as part of the switching process. All payments are redirected to your new account for a minimum period of 3 years.
The Current Account Switch Service (CASS) guarantees completion within 7 working days. This includes moving your Direct Debits and standing orders.
Most switching offers have eligibility restrictions for previous customers. Check the specific terms and conditions on First Direct's website, as you may be excluded if you've held an account with them recently.
Opening a bank account typically involves a credit check. While a single application usually has minimal impact, multiple applications in a short period may affect your credit profile. If you're planning to apply for credit soon, consider the timing carefully.
Eligibility criteria and terms apply. Not all applicants will qualify. First Direct is regulated by the FCA (Register: 765112).
This page is for guidance only and does not constitute financial advice. Offers are subject to availability and may be withdrawn at any time. Always verify current terms directly with First Direct.