First Direct is giving £175 free cash to customers who switch to one of its current accounts. The bank, which has been voted the best British organisation for customer satisfaction alongside Starling Bank, is offering the freebie as a “welcome bonus”.
The deal is only available to new customers who switch to the bank’s 1st Account using the Current Account Switch Service. With this account, customers can enjoy a £250 interest-free overdraft, access to a 7% AER/gross Regular Saver account and avoid debit card fees when spending abroad.
But to bag the free cash there are specific criteria that customers must meet within 45 days of opening the account. This includes switching at least two direct debits or standing orders to First Direct, paying in £1,000, making at least five debit card payments and logging onto digital banking.
First Direct says card transactions can be made in-store or online, and could be from your digital wallet or using your actual card.
The £175 offer is effective from September 9, so only 1st Accounts that are opened on or after this date will qualify for the welcome bonus, until the offer is withdrawn.
Those who are already a First Direct customer, or have previously held a First Direct product or opened an HSBC current account on or after January 1, 2018, won’t be eligible for the free cash. The offer is also limited to one payment per customer or joint account, and is for UK residents only.
First Direct said: “If you meet all the Switch criteria and still have your new 1st Account on this date, we’ll make one direct credit of £175 (the ‘offer payment’) to your new 1st Account before the 20th of the following month. For example, if you meet the Switch criteria on the 10 September 2024, then you’ll receive your £175 by 20 October 2024.
“If you open a 1st account in joint names, we’ll only make one payment of £175 into that account.”
The new offer comes after First Direct was jointly named the best British organisation for customer satisfaction in a survey run by the Institute of Customer Service, alongside Starling Bank.
The bank is highly regarded for its fast 24/7 phone-based customer service and its mobile app, which has undergone improvements in recent years. First Direct placed 14th in last year’s satisfaction survey to the top of the table for 2025.
