First Direct Paying £175 to New Customers – Plus a £50 Surprise Bonus

If you have been waiting for the perfect moment to ditch your old bank, the stars have aligned. First Direct is back with a bang, offering a market-leading incentive that is hard to ignore. We are talking about First Direct paying £175 in free cash just for switching your current account to them. But for the savvy switchers among us, that is not the ceiling. By combining this official bank offer with a clever stacking trick involving cashback sites, you can bag yourself an extra £50, bringing the total pot to a handsome £225. It is rare to see a deal this generous from a bank that also consistently tops the charts for customer service. Getting your hands on this cash is straightforward, but you need to follow the rules precisely. The First Direct paying £175 offer is not just a handout it is a reward for testing out their service. Whether you need a little extra cash for an upcoming holiday or just want to make your money work harder for you, this switch is currently one of the smartest financial moves you can make. Let us dive into exactly how you can claim every penny without tripping over the fine print.

The buzz around the First Direct paying £175 offer is well justified because it strikes a rare balance between a high payout and achievable entry barriers. Unlike some competitors that demand you earn a high salary or lock away thousands of pounds, First Direct keeps it accessible. To qualify you simply need to be a new customer who has not banked with them before or with HSBC recently. The core appeal here is the reliability of the payout. First Direct has run these offers for years and they are famous for paying out promptly usually by the 20th of the following month. This reliability makes the First Direct paying £175 deal a firm favorite in the UK switching community. It is not just about the money though you are joining a bank that treats you like a human being not a number.

First Direct Paying £175 to New Customers

How Much Can You Get For Switching To First Direct?

• The headline figure is of course the £175. This is paid directly into your new 1st Account once you have met the criteria. However the surprise element comes from the £50 cashback bonus. This is not paid by the bank itself but by cashback websites like TopCashback or Quidco.
• To get this you must not go directly to the First Direct website to apply. Instead you sign up for the cashback site first search for First Direct and click their link to start your application. If it tracks correctly you will get the £50 into your cashback account a few months later on top of the £175 from the bank. It is a little extra step that effectively pays you £50 for two minutes of work.
• This stacking method is what separates the casual switchers from the pros. While most people will simply see the television advert and go straight to the bank website losing out on the extra cash you can maximize your return. The £175 lands in your bank account relatively quickly while the £50 cashback can take a few months to process but it is money for nothing so patience pays off.

Who Can Get The First Direct Switch Offer?

Banks are notoriously strict about eligibility. You are classified as a new customer if you have never held an account with First Direct before. This is a strict one bonus per lifetime rule for this specific brand. If you had an account ten years ago and closed it you are unfortunately excluded from the bonus although you are welcome to open an account without the incentive. Crucially because First Direct is owned by HSBC there is a cross contamination rule. You cannot get this cash if you have opened a current account with HSBC on or after January 1 2018. If you have an older HSBC account from before that date you should be fine but always check the fine print before you hit the apply button. It is also worth noting that this offer is only for people who reside in the UK. You will need to prove your address and identity during the application process usually by uploading a photo of your driving license or passport and a recent utility bill. If you are currently in an overdraft with your existing bank that does not necessarily disqualify you but First Direct will run a credit check to decide if they are willing to take on your debt.

What Are The Requirements For The First Direct Switch Offer?

Once you have applied hopefully via a cashback site you have 45 days to tick a few boxes. Do not worry they are easier than they sound and designed to ensure you are using the account as a genuine banking product rather than just a place to park cash for a week.

• First you must initiate a full switch. You must use the Current Account Switch Service CASS. This is a seamless industry standard process that automatically moves your balance Direct Debits and salary over to First Direct and closes your old account. You cannot keep your old account open if you want the bonus. This is often a sticking point for people who are attached to their old bank. A common workaround is to open a burner account with a secondary bank like Monzo or Starling and switch that one instead leaving your main account untouched.
• Second you need to deposit at least £1,000. You do not need to keep it there. You can transfer it in and immediately transfer it back out. If you do not have £1,000 spare you can pay in £500 withdraw it and pay it in again it counts cumulatively. This flexibility is great for students or those on lower incomes who want to take advantage of the First Direct paying £175 offer.
• Third you need at least two Direct Debits or standing orders on the account. If your old account does not have these set up two small standing orders for example £1 to your own savings account or a family member. It counts just the same.
• Finally you must use your debit card five times. There is no minimum spend buying a 30p banana or a £1 Amazon top up five times works perfectly. You just need to show activity. Lastly simply log on to their online or mobile banking at least once to prove you have digital access.

When Will The Money Be Paid?

They state the money will be paid by the 20th of the month following the month in which you meet all the criteria. For example if you complete your switch and hit all the targets deposit card use and logins in March you should receive your £175 by the 20th of April. It often arrives earlier but that is the official backstop date. The cashback portion the £50 takes longer and is subject to the cashback sites own tracking speeds which can sometimes take a few months. This reliability is one of the reasons the First Direct paying £175 offer is so popular. Unlike some banks that make you wait 90 or 120 days First Direct pays out relatively quickly allowing you to move on to the next deal if you are a serial switcher. However many people find that once they have switched they actually want to stay because the service is genuinely superior to the high street giants.

Is First Direct Any Good?

• This is the question that stops many people from switching. Is it worth leaving a bank you know for one you do not? In this case the answer is almost certainly yes. First Direct has built a cult like following in the UK because they pick up the phone. They do not have branches but their 24 7 customer service is UK based and consistently wins awards.
• In an era where most banks are forcing you to talk to chatbots or wait on hold for an hour First Direct prides itself on human interaction. If you have a problem at 3 AM on a Sunday you can call them and a real person in Leeds or Hamilton will answer.
• Beyond the service the account gives you access to a 7% Regular Saver which is one of the best savings rates on the market for putting away up to £300 a month. You also get a £250 interest free overdraft buffer which is a fantastic safety net for those tight months. The mobile app is slick user friendly and functionally identical to the HSBC app which is widely regarded as one of the best in the industry.

First Direct Switch Offer Summary

To wrap it up this is one of the strongest free money deals available right now. The requirements are standard for the industry but the payoff is higher than average when you include the cashback boost. The First Direct paying £175 promotion is a great way to boost your finances with minimal effort.

Here is your checklist for success:

• Step 1 Sign up to TopCashback or Quidco optional for the extra £50.
• Step 2 Click through to First Direct and open a 1st Account.
• Step 3 Switch your old account using CASS.
• Step 4 Pay in £1,000 set up 2 payments and use your debit card 5 times.
• Step 5 Log in to online banking.
• Step 6 Wait for your £175 plus £50 to roll in.

By following these steps you are essentially earning a fantastic hourly rate for your admin time. It is a no brainer for anyone looking to optimize their personal finances.

Read More:-

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