‘Relaunch of £175 cash offer for switching accounts available for a limited time’

First Direct Launches £175 Cash Incentive for New Current Account Switchers

First Direct has reintroduced its popular current account switching deal for new customers. Those who switch to the bank’s current account from another bank can claim a free £175 cash incentive.

This relaunched cash incentive for account switching is available starting from Tuesday, May 7. Previously, First Direct saw a significant uptake of the incentive during a four-week period in late March.

New customers interested in claiming the bonus must meet the eligibility criteria to qualify for the switching offer. If eligible, they can expect to receive the £175 sum within a month of meeting the requirements.

Chris Pitt, CEO of First Direct, emphasized the importance of rewarding customers for choosing to bank with the institution. He encouraged customers to take advantage of the limited-time offer while it lasts.

In addition to the cash incentive, current account customers at First Direct can enjoy benefits such as an interest-free overdraft, fee-free transactions abroad, and a best-buy savings rate on regular savings. The bank also provides award-winning, 24/7 customer service to assist with any banking needs.

To be eligible for the £175 cash incentive deal, new customers must follow a checklist, which includes opening a First Direct 1st Account, completing a full CASS switch process, depositing a minimum of £1,000 into the account, registering and logging onto digital banking, using their debit card at least five times, and being a new customer with no previous First Direct or HSBC account since January 1, 2018.