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.
Customer Service
This is based on a scoring system we developed using data from MoneySavingExpert’s twice-yearly Current Account customer service polls.
An easy switching process
We guarantee a smooth switch.
All you need to do is:
- Open your new current account
- Pick a switch date
- Let your new bank or building society do the rest
A smooth switch for you
The Current Account Switch Service makes switching your current account simple, reliable and stress-free. Over 4 million current accounts have been switched so far.
The Current Account Switch Guarantee means that your new bank takes care of closing your old account, moving your balance and switching your payments.
So you don't need to worry.
Start using your new account
On your agreed switch date your new account will be ready to use and your old account will be closed. Your new bank will have transferred all of your regular incoming payments (such as your salary or benefits) and outgoing payments (such as Direct Debits, standing orders, future dated payments and bill payments) to your new account, along with any remaining credit balance. Your saved Payee details will also be transferred over.
Note: future dated payments set up within 7 working days of your switch date cannot be transferred across to your new account.
Need to knows
- 1. Check you're able to switch
The Current Account Switch Service covers 99% of UK current accounts. The process is the same everywhere so you can feel confident when you switch, no matter which participating bank or building society you choose.
- HOWEVER YOU CAN'T SWITCH WITH:
- A joint account without the permission of both parties
- Saving accounts
- ISAs
- Non-sterling payment accounts.
- 2. Check you're eligible
Common eligibility examples include having a minimum number of Direct Debits, and a set amount entering the account each month. You'll also need to agree any overdraft facilities you require with them before initiating the switch (subject to eligibility status).
Just in case if anything has gone wrong
In the unlikely event that anything goes wrong, your new bank or building society guarantees to refund any interest and charges you incur as a result of a delayed or incorrect switch. It's all part of the Current Account Switch Guarantee.
Switch incentive
Reward
Overdraft
Interest
AER interest on in-credit balances between and up to
Representative example and Need-to-knows
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
Switch incentive
Reward
Overdraft
Interest
AER interest on in-credit balances between and up to
Representative example and Need-to-knows
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.
