first direct continues to be a popular savings provider, but it is looking to entice more customers as competition continues to hot up between banks. With a number of providers putting forward switching offers, first direct is offering a competitive deal likely to entice Britons. This is a £100 switching reward which first direct states it is offering to “say hello” to customers, as well as a chance to access a solid interest rate.
In order to get the £100 cash offer, Britons will need to open a 1st account with first direct.
They will also need to switch their everyday banking to the provider by making use of the official Current Account Switch Service.
Finally, they are also required to pay in at least £1,000 within three months of the account first opening.
The offer is limited to one payment per customer, or joint account, and savers can expect to get the money within 28 days of all the criteria being met.
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Switching to a 1st account also has a number of other benefits aside from the £100 welcome offer.
Individuals will also have access to the provider’s 1.00 percent Regular Saver Account – a solid return in the current climate.
The Regular Saver allows Britons to put away between £25 to £300 each month for a fixed 12 month term to help people “get into a good savings habit”.
first direct states it wants to help Britons have a “more positive relationship with money” and so it is also offering a £250 interest-free overdraft, subject to status.
Britons will also benefit from customer service from “real people here in the UK – no machines, no overseas call centres” which can be reassuring if challenges arise.
Banking from first direct operates on a 24/7, 365 days a year access, through online, mobile and via phone.
People will also be able to pay in cash and cheques at their convenience, either at HSBC branches or the Post Office.
A key feature of a 1st account is that it also gives individuals the option to set up what is known as a “sweep”.
The sweep automatically moves any spare money from a 1st account to a first direct savings account on any date the person so chooses.
The account has no monthly fees, meaning there will not be any nasty surprises about keeping money in this way.
There are eligibility criteria to bear in mind, however, first direct explains “pretty much anyone” can apply.
Britons must be over the age of 18, and must not have been declared bankrupt or registered for an Individual Voluntary Agreement in the last six years, or be in the process of doing so.
Finally, savers will need a phone number and email address so the bank can contact them and send them important details.
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