Bank in UK Offers £175 for a Simple Switch

Switching banks can often be a handy way to save money - not to mention the incentives that come with doing so. Many banks in the UK dangle the carrot of free cash in front of customers hoping to entice them away from competitors.

And now seems like an ideal moment to make the change, say experts, since one bank is offering a substantial £175 incentive for transferring your account. First Direct's 1st Account Offers new clients £175 in cash right away. There are certain conditions they need to meet, but they're not particularly demanding.

First Direct asserts that the account can be set up "within minutes." After receiving your switch request, they will inform your previous bank accordingly.

Start with First Direct for transferring all recurring payments, reach out to the originators of your direct debits, and inform your employer as well.

Additionally, transferring to the First Direct account comes with various advantages, including advantageous conditions for both lending and savings.

Their customer support is strongly endorsed by customers. Money Saving Expert 's users, too.

What steps should I follow to open a First Direct account and get the £175 bonus?

New customers only need to complete these four steps to secure the bonus money. They have to:

• change over two or more direct debits or standing orders
• pay £1,000 or more
• complete five or more transactions using your debit card within 45 days
• Sign in to online banking

In addition to this, the 1st Account from First Direct provides a 0% EAR variable rate on the initial £250 balance. overdraft .

Moreover, it's associated with a one-year fixed-term savings account This could generate £136.50 annually from interest if you contribute the maximum amount of £300 each month.

The best part about it is that you can make an initial deposit of £1,000 and later withdraw this amount to qualify for the bonus offer.

Unfortunately, for those who have opened one HSBC account Those who sign up on or after January 1, 2018 do not qualify – this promotion is exclusively for new customers.