UK bank wants to give you £200 for free | Personal Finance | Finance
People looking to give their finances a boost could pocket £200 simply by switching banks. First Direct is offering the cash incentives to gain new customers.
Therefore, it’s important to read all the criteria to make sure you qualify.
MSE said: “Banks often offer switch incentives – usually free cash, sometimes boosted savings rates or other perks – to get you to open an account and switch from a rival. Always check the requirements carefully.
“If you miss a step you won’t get the bonus.” It listed one of the “top” deals at the moment as from First Direct.
By switching to its 1st Account, you could get £200. MSE said: “Free £200 (was £175), 7% saver, fee-free overseas spending and £250 0% overdraft for many.
“A clear winner if you want top customer service, or if you need an interest-free overdraft.”
On top of the £200 switch bonus, the First Direct 1st Account includes:
How to get the £200 bonus
To make sure you get the bonus cash you will need to open an account via app (online if joint account). And then within 45 days you must:
- Switch in an account with two or more direct debits or standing orders
- Pay in £1,000 or more
- Make five or more debit card payments
The £200 should be paid by the 20th of the following month. However, you can only be eligible if you have:
- Never had any First Direct product
- Not opened a HSBC current account after January 2018
For more information, visit the MSE website here.
