HSBC vs First Direct Switch Bonuses
HSBC and First Direct are linked by group eligibility, so you should compare them before applying. The highest headline amount may not be the best route if you are excluded by previous accounts.
Quick verdict
HSBC has the bigger headline cash reward, but also higher spend and deposit friction. First Direct currently pays £210 (£175 plus a time-limited £35 boost) and has strict previous-customer exclusions, but may be simpler for some switchers.
Provider
HSBC
Open a sole HSBC Bank Account in the HSBC UK app and, within 60 days, complete a full CASS switch with at least 2 Direct Debits, pay in £2,000 and spend £500 on the debit card. HSBC pays £220 within 60 days of you qualifying; current and recent HSBC UK or first direct customers are excluded. Screenshot each step as you go.
Requirement: Within 60 days of opening in the app: full CASS switch with at least 2 Direct Debits, £2,000 paid in and £500 of eligible debit-card purchases
Medium15-20 minutesPayout Within 60 days after all qualifying criteria are met
Verified 11 October 2026
Provider
First Direct
Open a 1st Account and, within 45 days, switch with CASS (at least 2 Direct Debits or standing orders), pay in £1,000, make 5 card payments and log on to the app or Online Banking. Accounts opened by 2 December 2026 get £210 (£175 plus a £35 boost); after that the £175 continues until first direct withdraws it. Note your opening date: every task counts from it.
Requirement: Within 45 days of opening: full CASS switch with at least 2 Direct Debits or standing orders, £1,000 paid in, 5 debit-card payments and a log-on to the app or Online Banking
Medium15-20 minutesPayout By the 20th of the month after the one in which you meet every condition (£175, plus £35 for accounts opened by 2 December 2026)
Verified 11 October 2026
Related reviews
HSBC Bank Account
HSBC Bank Account Review: Is the £220 Switch Bonus Worth It?
Worth doing if you qualify and can hit the targets without buying things you don't need: £220, no monthly fee, and a 5% Regular Saver that adds about £81 in year one if you save £250 a month. Two things to weigh first. HSBC and first direct are the same group and each one's offer shuts out recent customers of the other, and first direct's £210 asks for half the pay-in and five card payments instead of £500 of spending. And HSBC can take up to 60 days after you qualify to pay, so allow around four months from opening to cash. As an everyday account it is ordinary: 2.75% on foreign spending, only £25 of interest-free overdraft, and 11th of 17 for overall service in the official survey.
first direct 1st Account
first direct 1st Account Review: Is It Worth Switching for £210?
Worth doing if you are eligible. The £210 is the main reason to switch now, and the four tasks are ordinary ones: switch with CASS, pay in £1,000, make five card payments and log on, all within 45 days. The account is also worth keeping afterwards: no monthly fee, no first direct fees on card spending abroad, a £250 interest-free overdraft (subject to status) and a 7.00% Regular Saver that adds £136.50 in a year at the maximum £300 a month. The catches are eligibility (any past first direct product, or an HSBC current account opened since 1 January 2018, rules you out), no branches, and an Android app rated far below the iPhone one.
Best bank switch bonuses compared
Use the master bank-switch page to compare the full list before choosing which account to switch next.
View the bank-switch master page ->Side-by-side
| Factor | HSBC | First Direct |
|---|---|---|
| Reward | £220 | £210 |
| Quick answer | Use the referral link for the HSBC offer. New eligible customers can get £220 after meeting the requirement: Within 60 days of opening in the app: full CASS switch with at least 2 Direct Debits, £2,000 paid in and £500 of eligible debit-card purchases. Last verified 2026-10-11. | Use the referral link for the First Direct offer. New eligible customers can get £210 after meeting the requirement: Within 45 days of opening: full CASS switch with at least 2 Direct Debits or standing orders, £1,000 paid in, 5 debit-card payments and a log-on to the app or Online Banking. Last verified 2026-10-11. |
| Best for | Highest HSBC Group headline cash amount | People eligible for First Direct and comfortable with its steps |
| Bonus trigger | Full switch, £2,000 deposit, £500 card spend and 2 Direct Debits | Full CASS switch with 2 Direct Debits or standing orders, £1,000 deposit, 5+ card payments and digital banking login within 45 days |
| Main risk | Higher spend and deposit requirements | Ever-held First Direct and recent HSBC exclusions |
FAQ
- Can I do both HSBC and First Direct switch bonuses?
- Often not in close succession because HSBC Group eligibility exclusions matter. Check both current terms before choosing.
- Which is better, HSBC or First Direct?
- HSBC pays more in the current GetQuids list. First Direct can be better if its eligibility rules and lower spend friction fit you better.