first direct current accounts May 2023

first direct has no physical branches but it’s well known for its 24/7 call centre where you can always find actual human beings answering the phone, no matter how late in the night it is. If you need to deposit money or prefer to access any services in a phyical branch, you can get these services in a branch of parent company HSBC.

It only offers one current account option, and regularly offers an enticing switching incentive and access to a very competitive regular savings account.

first direct’s current account

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Name	Product	Ratings	Account fees	Funding requirement	Interest (AER)	Arranged overdraft	Incentive	Representative example	Link
1st Account		Finder score ★★★★★ ★★★★★ User survey ★★★★★ ★★★★★	£0	No minimum funding requirement	0% AER	N/A	Switch to first direct and get £175 plus get access to a 7.00% AER/gross Regular Saver Account.		Go to site View details		loading Fetching your data...

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The benefits of banking with first direct

• Switching incentive. If you’re unhappy with your bank, don’t hesitate to switch. These days you can easily get the equivalent of a couple of free dinners for two in cash as an incentive, and not only with first direct.
• Multiple ways to bank. As we said, there are no physical branches, but you can bank on the phone, online or via the app. And if you need to pay cash or a cheque into your account, you can do it at one of HSBC’s branches or at the post office.
• Access to a high-interest savings account. first direct’s Regular Saver Account allows you to pay in up to £300 a month for a year, and it pays a 7% AER (Annual Equivalent Rate), which makes it one of the top-paying accounts in the market.
• Mobile banking app. first direct’s app is very easy to use, although it doesn’t offer loads of functionalities – no budgeting tools or categorisation of your spending here, sorry.
• Global acceptance. first direct’s cards are either Mastercard or Visa, so you can shop pretty much anywhere in the world without having to worry about acceptance.
• A wide range of related products. first direct also offers mortgages, loans, credit cards, insurance and savings accounts.
• Round-the-clock assistance. You can give first direct a call at 3am and there will still be someone there to answer your call and help you out with whatever problem you’re having.

Opening an account with first direct

To open an account with first direct, you’ll have to provide the following information:

• How much you expect to pay in each month
• Your salary details and any assets you have
• Your nationality/citizenship
• Your residence status/tax residence status
• Proof of identity (passport, UK driving license)
• Proof of address (bank statement, utility bill)

You can open a first direct account online and send the documents online or by post.

first direct customer reviews

First direct was ranked thirteenth out of 18 current account providers in our independent 2023 customer satisfaction survey. Its users gave the brand 4 out of 5 stars and 73% said they’d recommend the current account service. Customers highlighted the bank’s strong customer service record and cash incentives to new joiners as a key reason for recommending them to friends and family. Here’s what some of those first direct customers had to say in our survey:

“Great customer service 24 hours a day.”

“They are honest, reliable and don’t try to sell me products and services I don’t want.”

“Good incentive for joining and an OK mobile app.”

On the Apple App Store, the first direct mobile banking app scored 4.8 out of 5 stars, based on a total of 382,000 user reviews. On the Google Play Store, it scores 3.4 out of 5 stars, based on 17,100 reviews (last updated, February 2023).

Pros and cons of first direct current accounts

Our verdict

You’ll earn a reward for switching to first direct, plus you can earn interest on its associated regular savings account. A great choice if you’re looking to make your money work for you. If first direct’s current accounts are not for you, you can also compare other current accounts here.

Frequently asked questions

• Can I have two first direct current accounts?

  Yes! There isn’t a limit to the number of accounts you can open. Remember, though, to check out the competition and be wary of opening multiple accounts just to use features like overdrafts.

• Does first direct pay interest on its current account?

  No, it doesn’t, although it does allow you to open a range of savings accounts.

• What are the first direct current account terms and conditions?

  You can find them on the dedicated section of first direct’s website. Just scroll down to where it says “before you apply” and click on the documents you want to take a look at.