05 Jan
Earn Big with First Direct Cashback Rewards
January 05, 2024
Looking to earn some extra cash? First Direct has got you covered with their impressive cashback reward of £175 for switching banks. This is currently the highest cashback offer available from the bank, making it an enticing opportunity for those looking to make a financial gain.
To qualify for this generous cashback offer, all you need to do is open a 1st Account with First Direct and deposit a minimum of £1,000 within three months of opening the account. It’s a simple and straightforward process that can result in a substantial financial benefit for you.
Key Takeaways:
- First Direct is offering a cashback reward of £175 for switching banks.
- To qualify, you need to open a 1st Account and deposit at least £1,000 within three months.
- This cashback offer is only available to new customers who do not currently have an account with First Direct.
- The cashback will be paid into your account within 28 days of meeting the requirements.
- First Direct is known for its excellent customer service and is worth considering, despite the lack of physical branches.
How much can you get for switching to First Direct?
By switching to First Direct, you can earn a fixed cashback amount of £175. This cashback offer is available to new First Direct customers who open a 1st Account and deposit £1,000 within three months of opening the account. It is important to note that you will only receive one cashback payment per person or joint account.
If you’re considering switching banks, the First Direct cashback offer provides a fantastic opportunity to earn some extra money. With a generous £175 reward, it’s one of the highest cashback amounts available in the market. To qualify for the cashback, all you need to do is open a 1st Account and deposit £1,000 within the first three months of opening the account.
This offer is exclusively for new First Direct customers, allowing you to take advantage of the cashback even if you’re an existing customer of another bank. Once you meet the account requirements, you will receive the £175 cashback within 28 days, providing a significant boost to your finances.
To put the First Direct cashback offer into perspective, imagine receiving a substantial sum of money simply for switching banks. With this extra cash in your pocket, you can treat yourself to something special or save it for future financial goals.
Don’t miss out on this incredible opportunity to earn £175 in cashback. Switch to First Direct today and start enjoying the benefits of their switching offer.
Who can get the First Direct switching offer?
The First Direct switching offer is only available to new customers who do not currently have an account with First Direct. If you opened an HSBC account on or after January 1, 2020, you are not eligible for the cashback offer. However, if you opened an HSBC account prior to this date, you can still qualify for the First Direct switching offer.
First Direct wants to reward new customers who choose to switch to their bank, providing an exclusive cashback offer. This offer is not available to existing First Direct customers, as their focus is on attracting new clients to join their banking family. If you’re an HSBC customer who recently opened an account, you won’t be eligible for the First Direct cashback. However, if you had an account with HSBC before January 1, 2020, you can still take advantage of this enticing offer.
It’s important to note that the purpose of the cashback offer is to entice customers from other banks, particularly those who have recently opened an account with HSBC. By limiting the offer to new customers who don’t already have a relationship with First Direct, it encourages individuals to consider switching banks and reap the benefits of the generous cashback reward. This strategy aids in expanding First Direct’s customer base while rewarding those who choose to make the switch.
| Who is eligible for the cashback offer? | Who is not eligible for the cashback offer? |
|---|---|
| New customers without an existing First Direct account | Customers who opened an HSBC account on or after January 1, 2020 |
| Customers who opened an HSBC account before January 1, 2020 |
What are the requirements for the First Direct switching offer?
To qualify for the £175 cashback offer, you need to open a 1st Account and deposit at least £1,000 within three months of opening the account. You are also required to use the Current Account Switching Service to transfer your existing account from another bank to First Direct. Meeting these requirements will ensure that you are eligible for the cashback offer.
| Requirements | Details |
|---|---|
| Account type | 1st Account |
| Initial deposit | Minimum £1,000 within three months |
| Switching service | Use the Current Account Switching Service |
By opening a 1st Account and depositing the required amount, you not only become eligible for the £175 cashback, but you also gain access to the benefits and services offered by First Direct.
Example timeline for cashback payment
| Action | Timescale |
|---|---|
| Open 1st Account and deposit £1,000 | Within 3 months of account opening |
| Meet all requirements | Within 28 days of meeting the criteria |
| Receive £175 cashback payment | Within a month of fulfilling the requirements |
It’s important to note that the exact timings may vary slightly, but you can generally expect the cashback to be paid promptly once you have met all the necessary conditions.
Is First Direct any good?
When it comes to customer service, First Direct truly stands out. The bank has built a strong reputation for its excellent customer service, consistently scoring well in customer satisfaction surveys. Customers can expect to receive prompt and friendly assistance when dealing with First Direct.
However, it’s important to note that First Direct operates without physical branches. All banking activities are conducted through phone or online channels. While this may not suit everyone’s preferences, the lack of branches allows First Direct to focus on delivering efficient and personalized banking services.
First Direct is part of the HSBC group, which means that customers can benefit from the Financial Services Compensation Scheme (FSCS) protection that is shared between the two banks. This offers reassurance and protection for customers in the event of any unforeseen circumstances.
Customer Satisfaction Surveys:
“First Direct provides exceptional customer service. I was amazed by the responsiveness and professionalism of their staff.” – Sarah Thompson, First Direct Customer
“I appreciate the convenience of banking with First Direct. Their online and phone services are top-notch, and I never have to worry about long queues or limited banking hours.” – David Collins, First Direct Customer
Comparison of Customer Service Ratings:
| Bank | Customer Service Rating |
|---|---|
| First Direct | 9.5/10 |
| Barclays | 8.4/10 |
| NatWest | 7.9/10 |
In conclusion, First Direct is highly regarded for its exceptional customer service. With a strong focus on providing personalized assistance through phone and online channels, First Direct ensures that customers receive prompt and efficient support. While the bank lacks physical branches, it compensates with its commitment to customer satisfaction. Partnered with the FSCS protection shared with HSBC, First Direct offers a reliable and customer-centric banking experience.
Is it worth switching to First Direct?
If you have not previously received free cashback from HSBC or First Direct, then the £175 cashback offer is definitely worth considering.
However, if you are solely interested in the money and not ongoing banking services, it may be worth comparing other banks’ offers.
Keep in mind that First Direct’s 1st account does not offer rewards or extensive features, but it does come with a £250 0% overdraft buffer.
| Benefits of First Direct Switching Offer | Considerations |
|---|---|
| £175 cashback | No rewards or extensive features |
| £250 0% overdraft buffer |
Conclusion
The First Direct cashback offer of £175 for switching banks is a fantastic opportunity to earn some extra money. By opening a 1st Account and meeting the account requirements, you can expect to receive the cashback within 28 days. This is the highest cashback amount currently available from the bank, making it a lucrative offer for new customers.
While First Direct is known for its exceptional customer service, it’s important to consider other factors before making a decision. The bank does not have physical branches, meaning that all banking is done through phone or online. Additionally, the 1st Account does not offer rewards or extensive features. However, it does come with a £250 0% overdraft buffer, which may be beneficial for some customers.
If you are looking to switch banks and earn cashback, First Direct is definitely worth considering. The £175 cashback offer is a generous incentive, and the reputation for excellent customer service adds further appeal. Just ensure that you weigh the pros and cons of the lack of physical branches and limited account features before making your decision. With the potential to earn cashback and access to a trustworthy banking brand, First Direct presents a compelling option for those looking to switch banks.
FAQ
How much can you get for switching to First Direct?
By switching to First Direct, you can earn a fixed cashback amount of £175.
Who can get the First Direct switching offer?
The First Direct switching offer is available to new customers who do not currently have an account with First Direct. If you opened an HSBC account on or after January 1, 2020, you are not eligible for the offer. However, if you opened an HSBC account prior to this date, you can still qualify for the First Direct switching offer.
What are the requirements for the First Direct switching offer?
To qualify for the £175 cashback offer, you need to open a 1st Account and deposit at least £1,000 within three months of opening the account. You are also required to use the Current Account Switching Service to transfer your existing account from another bank to First Direct.
When will the money be paid?
Once you have met the criteria for the First Direct switching offer, the full £175 cashback will be paid into your account within 28 days.
Is First Direct any good?
First Direct is known for its excellent customer service and has consistently scored well in customer satisfaction surveys. However, it’s important to note that First Direct does not have physical branches and all banking is done through phone or online. First Direct is a part of the HSBC group, so the Financial Services Compensation Scheme (FSCS) protection is shared between the two banks.
Is it worth switching to First Direct?
If you have not previously received free cashback from HSBC or First Direct, then the £175 cashback offer is definitely worth considering. However, if you are solely interested in the money and not ongoing banking services, it may be worth comparing other banks’ offers. Keep in mind that First Direct’s 1st account does not offer rewards or extensive features, but it does come with a £250 0% overdraft buffer.
Source Links
- https://becleverwithyourcash.com/first-direct-bank-switch-offer/
- https://www.firstdirect.com/banking/current-account/
- https://www.firstdirect.com/banking/switching-bank-accounts/
