first direct switch deal: March to April 2024

Find out about first direct's switching offer, plus how much to earn in savings interest on top.

Avatar

By

Kate Steere

Edited by

Holly Jennings

Updated

first direct switch deal update

first direct’s £175 switching offer has now ended. The information below is for reference only. For switching deals available now, make sure to check out our switching deals guide.

Alert me when there are new bank switching offers

Join 100,000 subscribers who are notified about expert money tips. Plus a chance to win £800!

By signing up you agree to receive emails from Finder and to the privacy policy and terms & conditions.

first direct has returned to the switching deal market with a £175 switching bonus, which launched on 26 March 2024. While it’s not the highest cash offer available, the deal gives you access to a savings account with a great rate in the first year. Here’s how to make the most of it.

For a full list of switching deals on the market, you can visit our switching deals guide.

How much can I get with first direct’s switch deal?

You get £175 when you switch an existing account to first direct’s 1st Account. Once you switch, you can also access the Regular Saver account at 7% AER fixed for 12 months. If you save the maximum amount of £300 a month into the savings account, you’ll have £136.50 after a year.

“That’s £311.50 in your first year, including switching bonus and maximum savings interest”

Who can get the deal?

The deal is available only to new customers, who must be UK residents aged 18 and over.

You can’t qualify if you’ve held a first direct product or have opened an HSBC current account on or after 1 January 2018.

How can I get the deal?

To get the £175 cash, complete a full switch to first direct’s 1st Account, which has no monthly fee, using the Current Account Switch Service.

You’ll also need to set up at least 2 direct debits or standing orders and deposit a minimum of £1,000 within 30 days. Plus, you’ll need to register and log on to first direct’s digital banking in that period.

If you meet all eligibility criteria, first direct will pay you the cash before the 20th of the following month.

The exclusions

  • You won’t be eligible to earn £175 if you’ve previously held a first direct product or have opened an HSBC current account on or after 1 January 2018.
  • You’ll need to continue to hold your first direct 1st Account on the date that the cash payment is made.

When the offer ends

The offer is due to end on 22 April 2024.

first direct’s current account

1 - 1 of 1
Updated daily
Name Product Finder score Account fees Funding requirement Interest (AER) Arranged overdraft Incentive Representative example Link
1st Account
Finder Award
1st Account
4.5
★★★★★
£0
No minimum funding requirement
0% AER
N/A
tag iconComes with linked Regular Saver Account fixed for 12 months.
Current account switch service guarantee badge
Go to site
View details
loading

Banking scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.

To find out more, read our full methodology.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

More guides on Finder

Go to site