First Direct Bank Switch OfferFirst Direct Bank Switch Offer New Customer Bonus: * £200 bonus when converting an Everyday Savings account to a First Direct First account Welcome Bonus: * £175 when completing the switch through the Current Account Switching Service * £25 Amazon voucher Additional Benefits: * 0% overdraft * Free debit card abroad * Savings account with 7% interest Eligibility and Requirements: * Switch at least two direct debits or standing orders to the new account * Deposit £1,000 * Make five debit card payments * Log into digital banking within 30 days of opening the account Amazon Voucher: * Obtain the voucher through a special link on the MoneySavingExpert website Other Savings Accounts: * Regular Saver Account: * Save between £25 and £300 per month * Earn a fixed interest rate of 7% AER/gross for 12 months Competitors: * Barclays: Free boost of £175 plus extras * Club Lloyds: Free £175 plus extras, including free Disney+ and 6.25% regular discount
New customers can receive a free £200 bonus when they convert their Everyday Savings account to a First Direct First account.
To receive the £175 welcome bonus, customers must complete the switch via the Current Account Switching Service.
The remaining £25 discount is in the form of an Amazon voucher.
In the latest MoneySavingExpert’s Money Tips Email, the experts explain that the provider has increased the £175 switching bonus by adding a £25 Amazon voucher.
It said: “First Direct has been near the top of every bank customer service survey we’ve ever conducted. Through this special link they’ve matched their £175 switching bonus with a £25 Amazon voucher. However, it’s unlikely to stay that way for long.”
At First Direct you also benefit from 0% overdraft, the best debit card abroad and a savings account with 7% interest.
With interest rates remaining frozen at 5.25 percent, savers are being urged to get the best possible interest on their savings
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When you switch, you will need at least two direct debits or standing orders transferred to your new account.
They then deposit £1,000, make five debit card payments and log into digital banking within 30 days of opening their account.
Card transactions can be made in-store or online, via the digital wallet or with the physical card.
Once these steps are completed, customers can receive the £175 welcome bonus.
The £25 Amazon voucher can be obtained via a special link on the MSE website.
This offer is limited to one payment per customer or joint account. Customers will receive the money no later than the 20th of the following month in which all criteria are met.
This account cannot be offered to persons who opened an HSBC current account on or after 1 January 2018.
Anyone who switches will also gain access to First Direct’s Regular Saver.
Savers can put away between £25 and £300 a month with the Regular Saver Account, earning a fixed interest rate of seven per cent AER/gross for 12 months.
The interest is calculated daily and paid after 12 months.
This account is available to First Direct 1st Account customers through their app and online banking.
First Direct is not the only bank offering a discount on switching current accounts.
Barclays is offering a free boost of £175 plus extras, for example a saving of 5.12 per cent.
Club Lloyds is also offering a free £175 plus extras including free Disney+ and 6.25 percent regular discount.
