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Conditions for 1st Direct switching bonus
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brewerdave
Posts: 8,706 Forumite
I've confused myself - you have to make 5 debit card transactions in the first 45 days that can't be cash withdrawals, but after that ,if I'm reading correctly , you don't have any specific requirements on the frequency of use ?
We tend to use a credit card to settle supermarket, petrol bills etc then settle everything with one DD at the month end so our debit card use is sporadic.
We tend to use a credit card to settle supermarket, petrol bills etc then settle everything with one DD at the month end so our debit card use is sporadic.
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The switch terms are here:
https://www.firstdirect.com/banking/current-account/#switch
The requirements are:
Within 45 days of your account opening you need to: switch to us using the Current Account Switch Service (including at least 2 Direct Debits or standing orders), deposit £1,000, make 5+ debit card payments, and log on to digital banking. Your card transactions can be made in-store or online, and could be from your digital wallet or using your actual card.
So deposit £1000, transfer 2 DD/SO and make 5 payments
If you want, just do 5 payments buying 5x carrots for 5p each, that's how most MSE serial switchers get around minimum debit transactions, just go to the supermarket with self scan at a quiet time
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Is there no minimum spend?Nasqueron said:The switch terms are here:
https://www.firstdirect.com/banking/current-account/#switch
The requirements are:
Within 45 days of your account opening you need to: switch to us using the Current Account Switch Service (including at least 2 Direct Debits or standing orders), deposit £1,000, make 5+ debit card payments, and log on to digital banking. Your card transactions can be made in-store or online, and could be from your digital wallet or using your actual card.
So deposit £1000, transfer 2 DD/SO and make 5 payments
If you want, just do 5 payments buying 5x carrots for 5p each, that's how most MSE serial switchers get around minimum debit transactions, just go to the supermarket with self scan at a quiet time
Needs not to have opened a HSBC account after 20180 -
Correct. No minimum spend amount, just 5x cleared debit card transactions required. Another option would be to make 5x manual debit card payments towards paying off your monthly credit card statement.0
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