You have to make a number of transactions to be eligible for the payment, the banking giant has explained.
First Direct has issued an update over the end date to qualify for £175 payments. You have to make a number of transactions to be eligible for the payment, the banking giant has explained.
Within 45 days of your account opening you need to switch to us using the Current Account Switch Service (including at least 2 Direct Debits or standing orders), deposit £1,000, make 5+ debit card payments, and log on to digital banking.
Carl Watchorn, head of banking at first direct, said: “Our £175 switching offer is a great incentive to switch your banking to first direct, and join almost two million other customers who experience our award winning customer service.
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“In addition to having our customer service teams on hand 24 hours a day, 365 days a year, first direct customers enjoy access to our market leading 7% Regular Saver account, an interest-free overdraft, and fee-free spending abroad – a great perk as we head into the holiday season.”
The bank said: “Within 45 days of your account opening you need to: switch to us using the Current Account Switch Service (including at least 2 Direct Debits or standing orders), deposit £1,000, make 5+ debit card payments, and log on to digital banking. Your card transactions can be made in-store or online, and could be from your digital wallet or using your actual card.
“Switching your everyday banking to your new first direct account is easy. Once your first direct account is open, simply log into your first direct app, select the account you wish to transfer into, tap ‘switch to us’ from your account menu and follow the instructions. We will ask you for your account details, existing 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.
“We set up all your regular payments on your new first direct 1st Account. We tell all your Direct Debit originators you’ve moved banks and give them your new details, including your employer so your salary can be redirected. There’s nothing at all for you to do, no calls or anything.
“This offer is limited to one payment per customer or joint account. You’ll get the money by the 20th of the following month in which all criteria has been met. New customers only, who haven’t previously held a first direct product. Sorry, we also can’t offer this to people who have opened an HSBC current account on or after 1 January 2018. Offer can be withdrawn at any time.”