Higher £210 bonus available as first direct boosts switching offer

This limited-time switching offer from first direct is the latest move by a bank or building society to attract customers.

From today (14 September), eligible customers who switch to first direct’s 1st account can receive a boosted switching incentive of £210.

They will need to open an account before 2 December 2026 to get the £210 cash reward, which consists of a £35 bonus on top of the bank’s usual switch incentive of £175.

To qualify for the £210 payment, customers need to use the Current Account Switch Service (CASS) to move their existing account to first direct’s 1st account, which must include at least two direct debits or standing orders. They also have to deposit £1,000 or more in their account, make at least five debit card payments and log on to digital banking.

All of this must be completed within 45 days of opening the account. Once they’ve met all the criteria, customers will receive the £210 bonus in their current account by the 20th of the following month.

Bear in mind that this offer isn’t available to anyone who has previously held a product with first direct or anyone who opened an HSBC current account on or after 1 January 2018.

“It’s great to see first direct improve its free switching cash offer, to £210, as its 1st Account is a great fee-free option with a competitive interest-free overdraft of £250 and an attractive tied regular savings account which pays 7.00% AER,” Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, commented.

“It is worth pointing out that current account switching offers do not sit on the shelf for too long, they can come and go throughout the year, and some can be pulled with little notice,” Springall warned.

“However, consumers must not feel rushed to switch, they need to carefully compare all the perks that come with the account against its rivals,” she added.

Features of the 1st account

As well as the £210 switching bonus, 1st Account customers will have access to first direct’s Regular Saver Account that pays a competitive 7.00% AER (fixed for 12 months). It requires savers to deposit between £25 and £300 each month and features highly on our regular savings chart.

Other perks of the 1st Account include a £250 interest-free overdraft and fee-free spending when using the debit card overseas.

However, there are other current accounts that offer different benefits, such as cashback schemes and interest payments on the account balance, which could be more appealing to some individuals.

This is why you should always compare the range of current accounts available, looking at their features and terms, as well as any switching offers, to find one that provides the best value based on your spending habits and how you will use the account.

Could you get a bigger boost elsewhere?

While the increase to first direct’s current account switching incentive is appealing, other banks are offering an even higher upfront cash reward when moving to an eligible account.

For example, Santander will pay £240 to customers who switch to its Everyday Current Account before 7 October 2026, while HSBC is offering a cash bonus of £220 to those who switch to its Bank Account. Both switching deals are subject to terms; see more details on our current account switching chart.

But, as well as the upfront cash bonus, it’s a good idea to assess the overall package of perks and features offered by a current account to see which one offers the greatest reward over the long term.

For example, after Nationwide BS upgraded the cashback scheme on its FlexDirect account (meaning customers can now earn up to £5 cashback per month on direct debits, in addition to up to £5 per month on their debit card spending), this could increase its appeal to customers.

Although it offers a smaller upfront switching bonus of £175, the account’s range of features help to boost its overall value and make it one of the more competitive current account options available.

Indeed, Springall calculates that this account could “offer customers up to £470 in value in the first year, including cashback, credit interest, the switching incentive and, assuming the £100 Fairer Share is paid again”.