First Direct - what’s all the hype?

ronnythefiddle

I finally decided to switch bank accounts from Santander to First Direct, and take advantage of the switching incentive. First Direct had been hyped as having excellent customer service and I had no reason to suspect otherwise since all the reviews seem to be pretty glowing on MSE.

I opened the account mid July 2025 and realised recently (January 2026) that I haven’t received my incentive payment despite (as I thought) having met all the criteria such as direct debits, debit card payments etc. within 45 days of the account opening. This is the crucial piece of information: “account opening”.

For despite the fact that my account was unavailable for me to use until the switch had actually taken place, at the beginning of August 2025, the countdown had begun unbeknownst to me. So having contacted First Direct in January 2026 to enquire as to why I haven’t received my incentive payment it became apparent that I hadn’t in fact met the criteria because the clock had begun mid July despite the fact that the switch didn’t take place until the beginning of August.

This was also after I had spent 12 minutes trying to get through security on the telephone because First Direct wanted a telephone password from me that I don’t remember having set up and this being the first time I’ve ever needed to call them on the telephone had not had any reason to do so.

The representative I spoke to on the phone asked me if I would like to set up a telephone password and expected me to tell her over the phone what that password would be, which seems utterly contrary to all advice regarding security and never giving one’s password out over the telephone.

So all in all, I found First Direct to be lacklustre, despite my thinking that I’d met the necessary criteria for the incentive payment it seems like any insurance company that they’ll do anything they can to wriggle out of paying the incentive, so be warned!

MyRealNameToo

https://forums.moneysavingexpert.com/discussion/6652542/first-direct-what-s-all-the-hype

I found it the same, on applying they wanted more information but gave the general customer service number and opening hours. After queuing to get through to them was told had to speak to the account opening team who operate shorter hours and you can't dial directly. Why give the wrong hours and why no direct dial? They say its because they are proud not to use call steering but that doesnt stop direct numbers and having to queue to join another queue is worse than having to press 2 for account opening and only queuing once.

The DDs are part of the switch so it's just the £1k deposit and 5 debit card payments you need to achieve. Personally would have probably done both on day 1 of having the card to avoid the risk even if it's just buying a couple of things on split transactions.

I had an ISA, no switching bonus etc, shortly after FD first started offering them; that bars me from ever getting a switching or new customer bonus despite never having received a bonus but their products their rules and they won't get me as a customer again.

Ballard

I consider First Direct to be my main bank, simply because I have my mortgage with them. They’re okay, but nothing special. I’ve probably had a relationship with them for 30 years and on the rare occasion I’ve needed to call them they’ve been great.

On the downside, although their app does what I need, it’s not a patch on the challenger banks.

The process of opening a regular saver is ridiculous. The account isn’t visible for a day or two ant the start and at maturity is disappears for a day or two again.

I very rarely use any debit cards, so I can live with the poor app and I know what I’m getting with the regular saver.

I got very lucky with my mortgage rate and still have 18 months fixed left, so I can forgive their otherwise underwhelming offering.

flaneurs_lobster

For despite the fact that my account was unavailable for me to use until the switch had actually taken place, at the beginning of August 2025, the countdown had begun unbeknownst to me. So having contacted First Direct in January 2026 to enquire as to why I haven’t received my incentive payment it became apparent that I hadn’t in fact met the criteria because the clock had begun mid July despite the fact that the switch didn’t take place until the beginning of August.

Why was the account not available to you from the point it was open?

As to the rules about the 45 days, it's pretty prominent on the first page

*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. 

my bold

Most people who are trying to get a switch bonus get the conditions met as soon as possible, no idea which bit(s) you failed to fulfill within the 45 days. Perhaps the fact that you didn't notice the lack of bonus payment for six months means that you might be better checking your account details a little more frequently?

WillPS

https://forums.moneysavingexpert.com/discussion/6652542/first-direct-what-s-all-the-hype

Unless you like talking to people on the phone, and/or really dislike phone menus, there's nothing particularly special about First Direct any more.

A lot of their reputation is an overhang from 20 years ago when day-to-day phone service was far more important to most than it is today, and lazy reporting fuelled by constant affiliate promotion has perpetuated it farther than it would have come with its own momentum in my opinion.

All this said, there's not much wrong with it any more either. The app is absolutely fine and it's worth having one just for access to the 7% regular saver, if nothing else.

I don't recognise what you're saying about welching on an incentive and I suspect a complaint rather than a request will have this fixed quickly if you're due one.

Rob5342

I don't quite see the point of them now really. They made sense 25 years ago when things were moving to be online only, like Egg cards etc. Now everyone uses apps and nobody uses branches I don't see what they do that HSBC doesn't, especially when they don't seem to be interested in keeping up with Monzo etc.

subjecttocontract

I lost interest in FD when they stopped FD account holders using HSBC branch equipment to pay in cheques and print off statements etc.

The_Groat_Counter

I use FD as my main account. The main attraction for me was the safety net of the free £250 overdraft. The 7% Regular Saver is obviously good as well.

In terms of falling behind the offerings of the challenger banks, I'd think it's simply a case that FD is inherently held back by using and being integrated with many of the legacy systems of their parent, HSBC. (The HSBC credit card platform in particular feels somewhat antiquated - e.g. no pending transactions shown, ditto no app transaction notifications. I imagine it will eventually have to be dragged into the modern world at some point!)

HedgehogRulez

I’m not sure there is any hype, is there?

masonic

The reasons I've stuck with them:

• They allow payees to be given nicknames, making transfers between various accounts in my name straightforward (several competitors don't support this). Though it is not perfect.
• The have enough data on my behaviour that I haven't been bothered by security holds of outgoing payments for years. Including no issue when I make 30-odd faster payments on the first of each month, or when transferring 5-figure sums to a newly set up payee.
• I've found their telephone support to be considerably better than other banks (I only use once in a blue moon, but when you need it you need it).
• Their app is better than HSBC's IMHO (though not the best when compared with some of the challenger banks)

But if I were starting out with a new bank account today, it would not be my first choice.

Largs

I found them to be unremarkable as a bank.

What I have found is that people, particularly on this website can't see past First Direct, Jet2 Airways, John Lewis, Octopus Energy, American Express and and some other ones where if anyone has a bad word to say about them, they come down on them like a ton of bricks.