It made an announcement on Monday morning
Bank first direct announced on Monday morning that it was increasing the switching incentive it offers on its current account to £200 from today, “for a limited time only”. To receive the £200 payment, new customers have until July 15 to open their account with first direct.
New customers switching their current account to first direct can also expect to benefit from the “numerous perks the account offers”, the bank said. These include discounts and benefits, access to a 7% interest Regular Saver account, fee-free overseas transactions and ATM withdrawals, a £250 interest-free overdraft and 24/7 customer service.
In order to be eligible to receive the £200 switching offer, customers have 45 days to meet the account’s criteria after opening their account. This includes going through the full CASS switch process to transfer their everyday banking, including switching at least two direct debit or standing orders – this must be from a provider that participates in CASS – the Current Account Switching Service.
Customers must deposit a minimum of £1,000 into their account and register for and log onto digital banking. They must also use their debit card at least five times and not be an existing customer of first direct or HSBC.
Colin Harrison, head of banking and propositions at first direct, said: “We are really pleased to be increasing our long-standing switching incentive to £200 for a limited time, giving our customers even more back as a thank you for choosing to bank with us.
“This is just one of many rewards we offer customers, as well as a fee-free overdraft and transactions abroad, and a range of gifts and perks each month through our loyalty programme. This is on top of the award-winning customer service that first direct is famous for, which is available 24 hours a day, 365 days a year.”
first direct said it had won a range of accolades in recognition of its service, including ‘Best Banking Brand 2026’ at the Which? awards.
