First Direct - £200 Switch Bonus (Boosted, Limited Time)

Overview

Boosted offer (limited time): First Direct has increased the 1st Account switch bonus from £175 to £200 for a limited time. The terms are otherwise unchanged — same 45-day activity requirements, same HSBC Group dormancy rule.

First Direct is offering £200 to new customers who switch their main current account in via CASS and complete a short set of activity requirements within 45 days. First Direct is consistently rated one of the best UK banks for service, and the 1st Account also gives access to a 7% AER regular saver and a £250 0% overdraft buffer.

How to Claim

1. Apply for a First Direct 1st Account online or in the app
2. Within 45 days of opening, complete ALL of the following:
   • Start a full CASS switch with at least 2 direct debits OR standing orders
   • Pay in at least £1,000 (can be split across multiple deposits, doesn't have to be one lump)
   • Make at least 5 debit card payment transactions (excluded: gambling, credit card payments, insurance payments, cash withdrawals, card-to-card payments)
   • Register and log into the First Direct app or Online Banking
3. Receive £200 by the 20th of the month after qualifying

Requirements

• Must have never held a First Direct current account before, and must not have any First Direct product
• Must NOT have opened an HSBC current account on or after 1 January 2018 (First Direct and HSBC share group eligibility — strictest dormancy clause of any UK switch bonus)
• 18+ and UK resident
• Full CASS switch
• All four activity criteria met within 45 days

Key Benefits

• £200 cash bonus (boosted from £175 — limited time)
• Top-rated UK customer service (consistently #1 in independent surveys)
• 7% AER Regular Saver — up to £300/month for a year
• £250 0% interest-free overdraft buffer
• Often stackable with TopCashback / Quidco for additional cashback (~£45)
• FSCS protected up to £85,000

Important Notes

• The £200 boost is limited time — the boost applies to accounts opened between 18 May and 15 July 2026, after which the bonus reverts to £175. If you're planning to switch, do it sooner rather than later to lock in the higher reward.
• The HSBC Group dormancy rule is the most restrictive of any UK switch — check carefully before applying
• The £1,000 can be paid in across multiple deposits within the 45-day window (not a single-deposit requirement, despite some older guides claiming so)
• The 5 debit card transactions must be everyday spending (gambling, credit card top-ups, insurance, ATM withdrawals and card-to-card transfers DO NOT count)
• Joint account: only ONE £200 paid per account regardless of how many holders
• Bonus paid as a credit to your account on the 20th of the month after qualifying