£175 for switching your current account to First Direct.
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
Open the account by 2 December 2026 and first direct adds £35, making it £210. After that it is £175.
1.
Open a first direct 1st Account.
2.
Once it is open, go to the first direct app, choose the account and tap “switch to us”.
3.
Enter the sort code and account number of the account you are leaving, and pick a switch date.
Read First Direct’s own terms →
Answer six tap-only questions and we’ll tell you if you can get the First Direct offer, and which other offers you can take alongside it.
Only one of these pays
First Direct is in the same banking group as HSBC, so you can only get one of their bonuses.
Questions
How much is the First Direct switch offer?
£175 for switching your current account to First Direct, as of 31 October 2026.
Do I need direct debits for the First Direct switch bonus?
Yes, 2. They have to be collecting on your old account before you switch, so they come across with it.
How long does the First Direct bonus take to arrive?
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.
Can I get the First Direct bonus if I’ve had one before?
No. First Direct only pays people who have never had a switch bonus from HSBC / First Direct.
Can I get both the First Direct and HSBC bonuses?
No. They are the same banking group, which pays one switch bonus per person, so pick the one whose conditions suit you.
More on switching
This is general information and isn’t financial advice. Banks can change or withdraw offers at any time.
Get this worked out for your banks
Six tap-only questions and Bank Switcher tells you which of these offers you can take, in the order that collects the most. Free, and about a minute.