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Get £175 cashback when you switch your current account to first direct

Switch your current account to first direct and get £175 switching bonus. Only new customers are eligible for this offer. Also, who have opened an account with HSBC bank on or before 1 January 2019

Here’s how it works:

To get the £175 cash offer you need to open a 1st Account, switch your everyday banking to us using the Current Account Switch Service and pay in at least £1,000 within three months of opening the account.

Step 1: Open an account

Switching your everyday banking to your new first direct account is easy. Just tell us you’d like to switch to us, either when you apply for your new account, or if your first direct Current Account is already open, start a chat with us online via the App or Online Banking to set the switch service in motion. 

To make sure you get to the right place, type the words ‘Switch my account’ and then choose ‘Account Switch’ from the list of options.

Step 2: We’ll let your old bank know

Once we’ve received your switch request and your current account is open, we’ll let your old bank know you’re moving.

Step 3: Switching Days 2 to 6

We set up all your regular payments on your new first direct 1st Account. We tell all your Direct Debit originators you’ve moved banks and give them your new details, including your employer so your salary can be redirected. There’s nothing at all for you to do, no calls or anything.

Step 4: Switching Day 7

This offer is limited to one payment per customer or joint account, and you’ll get the money within 28 days of all the criteria being met. New customers to first direct only, who have not previously held a first direct product. Sorry, we also can’t offer this to people who have opened an HSBC current account on or after 1 January 2019.

You may hold an HSBC account and still qualify for the offer, as long as the current account was opened before 1 January 2019. We reserve the right to refuse your application and withdraw this offer at anytime. Credit is subject to status and an assessment of your financial circumstances.

How our overdraft works

An overdraft can be used to borrow money on your current account and can help in months where there are unplanned events. Overdrafts are not suitable for long term borrowing and will typically result in you being charged interest.

An arranged overdraft is where we agree an overdraft limit with you. We share information about how you use your account with credit reference agencies.

An unarranged overdraft is when you authorise a payment that would take your account overdrawn or beyond your arranged limit without agreeing in advance an overdraft to cover it. We’ll always consider an unarranged request and will make the payment if we can, subject to status.

An unarranged overdraft may result in declined transactions. If you are in your unarranged overdraft for greater than 30 days this could have an impact on your credit file.

The monthly cap on unarranged overdraft charges for the 1st Account is £20. Further details can be found online at our overdrafts homepage. 

Use our Eligibility Checker and Cost Calculator to find out more about our overdraft service before applying for or changing an arranged overdraft.

You have 14 days to cancel an overdraft agreement beginning on the day we provide the overdraft or on the day you have received our letter, whichever is later.

You can also ask us to reduce or remove your arranged overdraft limit at any time by calling us on 03 456 100 100. You’ll have to repay any overdrawn amount plus any interest for the period you’ve had it.

Who can apply?

You. Probably. If you’re over 18, a UK resident, haven’t been declared bankrupt or registered for an Individual Voluntary Agreement in the last six years (or be in the process of doing so), and have a phone number and email address we can contact you with, we’d love to welcome you.

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Read more: Get £175 cashback when you switch your current account to first direct

Get £175 cashback when you switch your current account to first direct
Get £175 cashback when you switch your current account to first direct
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