Banking

UK bank to pay customers free £175 if they have £1,000 in their account


First Direct is set to entice new customers with a tempting offer of a free £175 for those who switch their current account to the bank, provided they have at least £1,000 in their account. However, interested parties must act swiftly as this deal is due to expire soon, with the deadline set for April 22, 2024, the banking heavyweight has announced.

To be eligible for the £175 cash incentive, individuals are required to transfer their everyday banking to first direct using the Current Account Switching Service from an eligible bank or building society, which includes setting up a minimum of two Direct Debits or standing orders. Additionally, within 30 days of opening the account, customers must deposit £1,000 and log in to their digital banking platform.




On its website, First Direct provides reassurance about the ease of switching bank accounts: “Switching bank accounts is actually a lot easier than you think. The Current Account Switch Service (CASS) takes care of everything, seamlessly moving your balances, standing orders, payees and more over to first direct.”

The bank further simplifies the process by stating: “Simply choose a date and we’ll move everything to us in just 7 working days, although we always aim to do this sooner. Once your first direct account is open, let us know you’d like to switch your other current account to us via the App. We will ask you for your new and old account details and preferred switching date.”

“Once we’ve received your switch request and your current account is open, we’ll let your old bank know you’re moving. As this stage there’s nothing else for you to do, no calls or anything. We’ll switch all your regular payments including standing orders and bills, we’ll also let your Direct Debit recipients know so that there’s no disruption to your outgoings.”, reports Birmingham Live.


“We’ll also tell everyone that needs to be told about your switch, including your employer so that your salary is paid into the right place.”

It continued: “Your old bank account will close on the date of your choosing, and you’ll be able to see the balance from your old account in your shiny new first direct 1st Account.”

“We’ll then let you know the switch is complete. It really is that easy.”



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