UK: First Direct offer new incentive to switch current accounts

First Direct has put itself into a strong position to capture some of the 20% of current account holders that RFi Group data shows are likely to switch their most frequently used current account in the next 12 months, by boosting its cash incentive for switching to £125. The new offer increases the £100 incentive previously on offer, however, the boosted incentive will only be available until the 11th of December 2017.

To receive this bonus, new customers must apply through comparison site MoneySupermarket, use First Direct’s Current Account switching service to move their account, and deposit a minimum of £1,000 within the first three months.

First Direct have also offered to pay an additional £100 to any switchers who decide they are unhappy with their First Direct account and want to close it, provided they have had the account for more than 6 months but less than 1 year.

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