First Direct has announced it is increasing the switching offer on its current account to £200, effective immediately, for a limited time only. New customers must open an account by July 15 to qualify for the incentive.
To receive the £200 payment, customers have 45 days to meet the account criteria, which includes completing the full Current Account Switching Service (CASS) process, transferring at least two direct debits or standing orders, depositing a minimum of £1,000, registering for and logging into digital banking, and using the debit card at least five times. The offer is not available to existing First Direct or HSBC customers.
In addition to the switching bonus, First Direct highlighted perks such as 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. The bank recently won ‘Best Banking Brand 2026’ at the Which? awards.
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.” He also noted the bank’s loyalty programme and award-winning customer service.
