£175 for switching your current account to First Direct.
Last checked against First Direct’s own terms on 13 September 2026
What you have to do
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Complete a full switch using the Current Account Switch Service, which closes your old account.
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Pay in at least £1,000, in one or more payments.
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Have at least 2 active direct debits, already collecting on the account you switch from, so they move across with the switch.
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Make 5 debit card payments.
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Log in to the bank’s app or online banking.
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Do all of it within 45 days.
Who can’t get it
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You can’t already have a current account with HSBC / First Direct.
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You can’t ever have had a switch bonus from HSBC / First Direct.
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You can’t have held one on 1 January 2018.
When it pays
As soon as about 20 days after the switch if you meet the conditions straight away, and up to 3 months if you use the whole window.
How to start the switch
Start it at first direct, and in two goes: open the 1st Account first, then in the first direct app pick that account, tap “switch to us” and give the old account's details and a date.
Read First Direct’s own terms →
Only one of these pays
First Direct is in the same banking group as HSBC, so you can only get one of their bonuses.
This is general information, not financial advice. Banks can change or withdraw offers at any time.
Want this worked out for your banks?
Six tap-only questions and Bank Switcher tells you which of these offers you can actually take, in the order that collects the most. Free, and about a minute.