First Direct offers new customers £175 to switch current accounts 

First Direct offers new customers £175 cashback to switch over their current accounts

First Direct is offering new customers £175 cashback if they switch over their current account — an increase on its previous £150 offer.

To claim the bonus, you must open First Direct’s 1st Account using the Current Account Switch Service and pay in £1,000 within 60 days.

You must not have previously held an account with the bank or opened a HSBC current account after December 31, 2018. 

First Direct is offering new customers £175 cashback if they switch over their current account — an increase on its previous £150 offer.

If you do not want to switch, you can still claim £20 by simply opening a First Direct 1st Account.

The bank is also increasing its interest rates across its saving products. 

Its Fixed Rate Saver One Year rate is rising by 0.75 percentage points to 1.25 per centand its cash Isa by 0.25 points to 0.7 per cent.

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