UK bank to pay customers free £175 if they have £1,000 in their account

first direct is offering free £175 but the deal is ending this month - and you can earn seven per cent interest on savings. first direct's current account switch offer will end this month on April 22, 2024, the high street giant has confirmed.

To get the £175 cash offer, you need to switch your everyday banking to us using the Current Account Switching Service, from a participating bank or building society, including at least 2 Direct Debits or standing orders. Then pay in £1,000 and log on to digital banking, within 30 days of your account opening.

first direct explains on its website: "Switching bank accounts is actually a lot easier than you think. The Current Account Switch Service (CASS) takes care of everything, seamlessly moving your balances, standing orders, payees and more over to first direct.

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"Simply choose a date and we’ll move everything to us in just 7 working days, although we always aim to do this sooner. Once your first direct account is open, let us know you'd like to switch your other current account to us via the App. We will ask you for your new and old account details and preferred switching date.

"Once we've received your switch request and your current account is open, we'll let your old bank know you're moving. As this stage there’s nothing else for you to do, no calls or anything. We’ll switch all your regular payments including standing orders and bills, we’ll also let your Direct Debit recipients know so that there’s no disruption to your outgoings.

"We’ll also tell everyone that needs to be told about your switch, including your employer so that your salary is paid into the right place." It went on: "Your old bank account will close on the date of your choosing, and you'll be able to see the balance from your old account in your shiny new first direct 1st Account.

"We'll then let you know the switch is complete. It really is that easy."