You Can Get £175 Transferred Into Your Bank Account For Free

Who doesn't love free money?

Written byEric Blair
Published on
Read time3 min read

There’s nothing quite like the feeling of knowing you’ve got something for free, and if it’s free money, well, does it get any better? 

And what with the gifting season fast approaching, who wouldn’t want an injection of cash into their account?

Well, you could be in line for just that as First Direct is currently offering anyone who switches to them £175! 

There’s no catch, if you switch your bank account to First Direct, they’ll give you £175 for free as a thank-you for switching over. 


And it’s really easy - once you sign up, all you have to do is give them your previous bank details and they’ll do the rest for you, closing your old account and transferring any direct debits you’ve got in place over to the new one.

Not only that, you’ll also get an interest-free overdraft of £250 and as the First Direct current account isn’t specifically for students, once you graduate you’ll still have it - a real rare win for non-student accounts!

If you’re not getting any great benefits from your current bank account,  it’s definitely worth looking into, and if you do have the opportunity to put any money aside, all First Direct current account holders also get access to the First Direct Regular Savers Account, which boasts a fairly hefty 7.00% AER/Gross p.a interest rate!

To get paid the £175 welcome gift all you have to do is pay £1,000 into your new account within the first three months of opening it - that could be all in one go form a student loan instalment, or even spread out in three lots of £333 if you have a salary from a part-time job.


Once you’ve opened an account, you’ll get the money in your bank account and if you switch now and pay in £333 this month, December, and January, you’ll have the money to help with that post-festive period skintness! 

The only catch is that it’s only available to new customers and you can’t have opened a HSBC bank account since 2020 as First Direct is a part of the HSBC company. 

You can read more about how to switch and the cash bonus here.

If you want big savings on the important things in life - from insurance, to breakdown covering and tips and advice on how to save your precious pennies, check out the Home & Finance section of the brand new TOTUM Talks content hub.

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