First Direct - Earn £175 when you switch banks 🔥

Free Money — Bank Switching — First Direct

Time needed 15 minutes

Deposit £1,000

First Direct is a telephone and internet based retail bank division of HSBC UK Bank plc based in the United Kingdom. Switch banks now and get a £175 bonus.

To claim the £175 bonus:

1. Sign up here - Apply for an eligible current account

   (Topcashback will pay you £60 on top of your switching bonus if you start the switch through them)

2. Switch in an account from a different bank including 2+ direct debits, log into digital banking, use your debit card 5 times and pay in £1,000+ within 30 days.

3. The £175 is paid before the 20th of the following month.

4. You’ll also gain access to a linked regular saver which pays 7% interest on up to £300/month, and an ongoing £250 0% overdraft.

👉 [Join the discussion for this offer here]

👉 [See our full guide on switching banks and setting up simple direct debits]

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👉 [Need to see the T&Cs for this offer? Click here]

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FAQ’s

• Is First Direct a real bank?

  Yes — First Direct is a fully licensed UK bank.

  • It operates as part of HSBC UK Bank plc

  • One of the UK’s first telephone and online-only banks

  • Known for strong customer service

  It’s a legitimate and well-established bank.

• Is my money safe with First Direct?

  Yes — your money is safe and protected.

  • Covered by the Financial Services Compensation Scheme (FSCS)

  • Protection up to £85,000 per person (shared with HSBC)

  • Regulated by the FCA and PRA

  Important:

  • First Direct and HSBC share a banking licence, so the £85k limit is combined across both.

• Which banks are linked to First Direct?

  First Direct is part of:

  • HSBC UK Bank plc

  This means:

  • FSCS protection is shared with HSBC accounts

  • Not linked to banks like Lloyds, NatWest, or Barclays

• How do I qualify for the First Direct £175 bonus?

  To qualify, you usually need to:

  1. Open a First Direct current account

  2. Use the Current Account Switch Service (CASS)

  3. Switch your old account (full switch)

  4. Transfer:

     • At least 2 direct debits or standing orders

  5. Deposit at least £1,000 within 45 days

  6. Make 5+ debit card payments

  7. Log in to digital banking

  All steps must be completed within 45 days of account opening.

• Do I need direct debits for the First Direct bonus?

  Yes — but there’s flexibility.

  • You need 2 direct debits OR standing orders

  • This is easier than some banks that require only direct debits

  That makes First Direct slightly more flexible than Barclays/Lloyds.

  Read our full guide on setting up simple direct debits here.

• How long does the First Direct bonus take?

  • Paid by the 20th of the following month after qualifying

  Typically:

  • Around 1–2 months total

• Who is eligible for the First Direct switch offer?

  You usually qualify if you:

  • Are a new First Direct customer

  • Have never had a First Direct account before

  • Have not opened an HSBC current account since 2018

  Many people are caught out by the HSBC rule.

• How do I contact First Direct?

  App & online banking (recommended):

  • In-app chat or secure messaging

  • 24/7 support available

  Phone (UK):

  • 03 456 100 100 (general enquiries, 24/7)

  Address:

  • 40 Wakefield Road, Leeds, LS98 1FD

  Branch access:

  • First Direct customers can use HSBC branches for basic services.