How long does the £200 take to arrive?

First Direct pays after it confirms the switch and account activity. The current route is usually assessed against a monthly payout window, so do not assume instant payment after the fifth card transaction.

I had an HSBC savings account — am I still eligible?

Yes, as long as you've never held a First Direct product and haven't held an HSBC *current account* since 1 January 2018. HSBC savings accounts don't disqualify you.

Will switching hurt my credit score?

Opening a new account triggers a credit check, but using CASS to switch is routine. Any impact is usually minor and short-lived.

Popular

First Direct £200 Switch Bonus

Switch to a First Direct 1st Account for £200 cash. The current boosted route needs a full switch, £1,000 paid in, 5 card payments, online or app login, and 2 Direct Debits or standing orders.

Read our full review · 4.2/5 →

Quick answer

Use the referral link for the First Direct offer. New eligible customers can get £200 after meeting the requirement: £1,000 held for 24h, 5 card payments, login, and 2 Direct Debits or standing orders. Last verified 2026-06-27.

Reward: £200
Referral code: No code required
Last verified: 2026-06-27

Difficulty: Medium
Time to claim: 15-20 minutes
Time to payout: By the following monthly payout window

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Ad / referral links — we may earn a bonus when you sign up.

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How to claim

Open a First Direct 1st Account (new customers only — never held any First Direct product before).
Use the Current Account Switch Service (CASS) to switch from another bank.
Complete the switch with at least 2 active Direct Debits or standing orders.
Pay in at least £1,000 within 45 days of opening and leave it in the account for at least 24 hours.
Make at least 5 debit card payments within 45 days.
Log into online or mobile banking within the qualifying window.
Receive £200 into your account once First Direct confirms the monthly payout criteria are met.

Eligibility & requirements

Never held any First Direct product before.
No HSBC current account held since 1 January 2018.
Must use the full Current Account Switch Service.
Minimum £1,000 deposit held for 24 hours, 5 card payments, online or mobile banking login, and 2 Direct Debits or standing orders within 45 days.
Current boosted offer is listed as ending on 15 July 2026, so check the live page before applying.

Verification notes

Minimum spend/deposit: £1,000 held for 24h, 5 card payments, login, and 2 Direct Debits or standing orders
Last verified: 27 June 2026
Automated source check: 9 August 2026

Official source Non-affiliate link

Provider terms can change without warning. Treat this as a verification snapshot and confirm the live terms before applying.

Pros

Consistently top-rated mobile and telephone banking (award-winning customer service).
£250 interest-free arranged overdraft.
Reliable, frequent switch offers.
Bonus recently boosted from £175 to £200.

Watch out for

Excludes anyone who has ever held a First Direct product.
Also excludes recent HSBC current account holders (since Jan 2018).
No physical branches (telephone and app only).
More moving parts than a simple pay-in-only switch bonus.

FAQ

How long does the £200 take to arrive?: First Direct pays after it confirms the switch and account activity. The current route is usually assessed against a monthly payout window, so do not assume instant payment after the fifth card transaction.
I had an HSBC savings account — am I still eligible?: Yes, as long as you've never held a First Direct product and haven't held an HSBC *current account* since 1 January 2018. HSBC savings accounts don't disqualify you.
Will switching hurt my credit score?: Opening a new account triggers a credit check, but using CASS to switch is routine. Any impact is usually minor and short-lived.

Bank SwitchingCurrent AccountTop Rated

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Added 16 June 2026 · Last updated 27 June 2026. Offers and terms change frequently - always confirm on the provider's site before applying.