Is First Direct better than HSBC for a switch bonus?

First Direct has a lower pay-in and no £500 debit-card spend requirement, but stricter lifetime eligibility. HSBC pays more if you can satisfy the heavier checklist.

Do I need Direct Debits for First Direct?

The current route can use 2 Direct Debits or standing orders, alongside the pay-in, login and card-payment requirements. Check the live page before switching.

First Direct £200 Switch Bonus Review

First Direct switch review covering the £200 boosted bonus, £1,000 pay-in, 5 card payments, login and Direct Debit or standing order requirement.

Rating

4.2/5

Best for

Switchers who want a strong bonus and a well-liked app/telephone bank.

First Direct is one of the better switch bonuses if you are eligible, because the £200 reward is strong and the account itself has a good reputation. The catch is the checklist: full switch, £1,000 held briefly, 5 card payments, login, and 2 Direct Debits or standing orders.

Pros

Strong £200 boosted switch reward
Good fit if you value app and telephone banking
Lower pay-in than HSBC and Barclays

Watch-outs

Never-held-First-Direct rule is strict
Several activity steps must be completed in the qualifying window
No branch network

Current related offer

First Direct offer page

Provider

First Direct

£200

Popular

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.

Requirement: £1,000 held for 24h, 5 card payments, login, and 2 Direct Debits or standing orders

Medium15-20 minutesPayout By the following monthly payout window

Verified 27 June 2026 · Ends 15 July 2026

Get £200 ->Full details & steps →

Full claim instructions are on the First Direct offer page.

Related comparisons

HSBC vs First Direct Switch Bonuses

HSBC vs First Direct switch bonuses compared by cash reward, eligibility exclusions, pay-in rules and payout timing.

Read comparison →

Who it suits

First Direct suits people who have never used the bank and want a clean switch target with a strong cash bonus.

It is also a decent long-term account if you like phone support and app banking, rather than just a place to collect a switch incentive.

Reward and requirements

The current GetQuids page tracks the boosted £200 route with a 15 July 2026 end date, a £1,000 pay-in held for 24 hours, 5 card payments, app or online login, and 2 Direct Debits or standing orders.

The lower pay-in makes it easier than HSBC or Barclays, but the activity list still needs planning.

Main watch-outs

The strictest issue is eligibility: if you have ever held a First Direct product, assume you may not qualify.

Do not wait until the final days of the boosted window. CASS timing, card arrival and Direct Debit movement can all take longer than expected.

FAQ

Is First Direct better than HSBC for a switch bonus?: First Direct has a lower pay-in and no £500 debit-card spend requirement, but stricter lifetime eligibility. HSBC pays more if you can satisfy the heavier checklist.
Do I need Direct Debits for First Direct?: The current route can use 2 Direct Debits or standing orders, alongside the pay-in, login and card-payment requirements. Check the live page before switching.

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Last updated 29 June 2026. Reviews are informational only and not financial advice.