Compare first direct current accounts - Ordered by switch incentive
Account opening criteria
High Interest, Package, Reward & Standard current accounts
- You must be 18 years of age or older
- You must not have been declared Bankrupt or have registered for an Individual Voluntary Agreement within the last six years or be in the process of doing so (Does not apply to M&S Bank)
- You are a UK resident
Student accounts
- You’re aged 18 years or over
- You’ve been accepted onto a full-time UCAS course at a UK institution for at least 2 years
- You don’t already have a student account with another Banking institution
Children’s accounts
- You must be aged between 11 and 18 years old
- You must be living permanently in the UK
Credit building
- You must be aged 18 or over to apply
- You must have a residential address in the UK
Before applying, please always check each banks specific opening criteria on their website.
What type of current account does First Direct offer?
First Direct offer one current account product, known as a 1st Account, and it comes with a variety of features and optional add-ons.
What features does a First Direct current accounts have?
With a First Direct 1st Account, you’ll have access to the following features:
Overdraft: you’ll also get a minimum arranged overdraft facility of £500 (subject to status), and the first £250 will be interest-free*. You’ll be charged at a rate of 15.9% EAR variable on the rest of your overdraft – the EAR is what you’d pay if you were overdrawn for a year. There may also be a fee involved for going over the arranged amount, however you can sign up for text alerts that let you know when you’ve gone over.
*Representative example (assumed overdraft £1,200): 0% EAR variable on the first £250, 15.9% EAR variable thereafter.
Paym: with First Direct’s Paym feature you can transfer money to other Paym users using only their mobile phone number, and with iPhone’s biometric features you can even make these payments by using Siri – just say “Hey Siri, please pay Roger £10 from First Direct.”
Savings sweep: First Direct also offer a ‘sweep’ facility that transfers any spare money from your 1st Account to a savings account with the same provider on the date you decide.
Add-ons: You can also get a variety of add-ons if you pay £15 a month for First Directory, including:
- Worldwide travel insurance
- Motor breakdown cover
- Mobile phone insurance
- Reduced foreign currency withdrawal charges
- Discounts and offers on leisure deals
However you’ll need to check if you’re eligible for these, as well as the level of cover offered to be sure of what you’re taking out.
Switcher gifts: New customers might also be eligible for a free gift if you switch accounts using the Current Account Switch Service and pay in a minimum of £1,000 in the first three months.
Compare first direct current accounts - Ordered by switch incentive
First Direct credentials
First direct are a division of HSBC UK Bank plc, who are authorised and regulated by the Prudential Regulation Authority, as well as being regulated by the Financial Conduct Authority.
Why you should compare current accounts
Many of us use our current accounts for day-to-day banking, so it’s important to choose an account that works well for you. A great way to see all your options is by comparing current accounts on MoneySuperMarket, where you’ll be able to browse through offers from different providers and look at what they offer – including their overdraft facilities, the interest rate they might pay on your balance, or the rewards they offer.
When you’ve picked the account suited to you, the Current Account Switch Service means the switching over process is simple. Introduced in 2013 by the government, the Switch Service makes sure your switch is complete within seven working days.
During this time your outgoing payments, including standing orders and direct debits, and incoming payments such as your wage or salary are automatically swapped over. Any payments still going to your old account will also be redirected to your new account, and the Switch Service does this for 36 months after you switch.
Your new provider will manage all of this for you, and they’ll also resolve any problems that might come up – this includes paying any possible resulting charges and fees.
