Major bank to pull £175 free cash offer in less than 48 hours – move to make now to avoid missing out

A MAJOR bank will pull a £175 free cash offer within hours.

First Direct is offering new customers £175 to switch to its packaged bank accounts, but you'll have to be quick.

The offer ends on July 31, and you must complete the switch by the hard 23.59pm deadline.

Banks often offer free cash or other perks to help bring in new customers.

First Direct's offer gives new customers access to to a £250 interest-free overdraft, subject to eligibility, and to the First Direct regular saver account, which pays 7%.

It also says you'll have no debit card fees when spending abroad.

To get the bonus, you need to complete a full switch using the Current Account Switch Service (CASS).

You will also need at least two active direct debits or standing orders. 

Next, you need to deposit £1,000, make 5+ debit card payments, and log on to digital banking, within 30 days of your account opening. 

Your card transactions can be made in-store or online, and could be from your digital wallet or using your actual card.

The deal is only available to new customers only, who haven’t previously held a First Direct product.

This makes HSBC customers who joined on or after January 1, 2018 exempt too as the banking giant is First Direct's parent company.

You can read the full details and apply on the First Direct website.

The offer has been running since May 7.

First Direct eases the burden off anxious customers by telling your old bank you're moving.

Terms and conditions on their website state: "If you meet all of the eligibility, we will make the payment of £175 (the ‘Offer
Payment’) to you before the 20th of the following month".

Chris Pitt, chief executive officer of First Direct, said: "We want to reward customers for choosing to bank with us, which is why we are bringing back our popular £175 incentive.

"The offer will only be around for a limited time only, so we’d encourage people to make the most of it while it’s available."

It comes after The Sun exclusively revealed in March that HSBC, which owns First Direct, has plans to make its UK debit cards fee-free for customers using them abroad.

HSBC is set to simplify the pain of spending abroad after the bank confirmed its ambition to make all UK-based debit cards fee-free for holidaymakers, The Sun can reveal.

The move would mark a significant departure from traditional banking practices and underscores HSBC's commitment to enhancing customer experience globally.

Currently, most major high street banks charge fees when customers use their debit cards for spending and cash withdrawals abroad.

First Direct 1st account and Virgin Money customers already benefit from fee-free spending and withdrawals when using their bank cards overseas.