First Direct is a UK telephone and online bank launched on 1 October 1989 as Britain's first branchless bank. It's now a division of HSBC UK Bank plc (since 1992) with around 1.9 million customers as of 2024 and a long track record at the top of independent customer-service rankings.
Customers
1.9m
UK accounts
Founded
1989
37 years old
App Store
4.8 ★
455k reviews
Google Play
2.8 ★
18.5k reviews
Live offers
2
Worth £259
First Direct is a division of HSBC UK Bank plc, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN 765112). Eligible deposits are protected by the FSCS up to £120,000.
Customer service nerds, this one's for you. Quidsy has two live offers with First Direct: £175 free cash for switching your current account, plus a 7.00% AER Regular Saver paying on £25 to £300 monthly deposits. The catch is you need the 1st Account open before the Regular Saver unlocks.
Updated:
Value
£200
Value
£59
First Direct is a UK telephone and online bank launched on 1 October 1989 as Britain's first branchless bank. It's now a division of HSBC UK Bank plc (since 1992) with around 1.9 million customers as of 2024 and a long track record at the top of independent customer-service rankings.
It topped the January 2026 UKCSI Best Customer Service ranking across all 13 sectors the index covers, and 97% of customers in Finder's 2026 awards said they would recommend the bank to a friend.
First Direct works best for people who manage their money online or by phone and don't need a high-street branch. The 1st Account suits anyone after a switch bonus paired with a genuinely useful current account: no monthly fee, fee-free spending abroad, a £250 interest-free overdraft buffer, and access to a 7% Regular Saver once you're a customer.
It's less of a fit if you walk into a branch regularly, or if you opened an HSBC current account on or after 1 January 2018, since those customers aren't eligible for the switch bonus.
Yes, First Direct is safe for everyday banking. It is a division of HSBC UK Bank plc, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN 765112). Eligible deposits are protected by the Financial Services Compensation Scheme up to £120,000 per person.
One thing worth knowing if you already bank with HSBC: First Direct and HSBC UK share the same banking licence, so the £120,000 FSCS limit is applied to your combined balances across both brands, not to each separately. If you hold £80,000 with each, you are covered to £120,000 in total, not £160,000.
In May 2024 the FCA fined HSBC UK Bank plc (the legal entity behind First Direct) £6.28 million for historical failings (June 2017 to October 2018) in how it treated customers in arrears. HSBC self-reported the issue, paid £185 million in redress to more than 1.5 million customers, and invested £94 million in fixing the underlying processes. The FCA discounted the fine by 30% for early settlement.
The behaviours have since been remediated, but it is fair context for anyone weighing up the brand today.
Next step
£200 Total, £175 Free Cash is the strongest live First Direct route we have listed right now.
First Direct is ideal for people who don't need physical branches and prefer managing their money online or via phone. Their 24/7 UK-based customer service is genuinely helpful (not a call centre maze), and the app makes day-to-day banking simple. Perfect if you value great service over branch access.
Phone support is answered by real people in Leeds at any time of day or night, with no menu maze. It is the headline reason First Direct keeps topping independent customer-satisfaction rankings.
The 1st Account has no monthly fee and no foreign transaction fees on card spending or cash withdrawals abroad, which makes it useful as a primary current account or as a travel companion without commitment.
Day-to-day banking happens in-app, with fingerprint and Face ID login, instant card freeze, virtual card creation, and same-day account opening. It is the surface most customers use the bank through.
1st Account holders can open a Regular Saver paying 7.00% AER fixed for 12 months on monthly deposits of £25 to £300. That is one of the highest UK regular-saver rates and a core reason customers stay after the switch bonus lands.
First Direct gives 1st Account holders a £250 fee-free overdraft buffer (subject to status), useful for small timing gaps without triggering charges or a hit to how lenders read your account.
If customer service matters to you, First Direct is genuinely the best bank in the UK right now. They topped the January 2026 UKCSI Best Customer Service ranking across all 13 sectors the index covers, not just banking, and 97% of customers in Finder's awards said they would recommend the bank.
Phone support is 24/7 and you actually speak to a real person in Leeds, which sounds like a small thing until you have spent half an hour stuck on someone else's phone tree.
The 1st Account itself is one of the most useful current accounts in the market. No monthly fee, fee-free spending abroad, a £250 interest-free overdraft buffer, and access to a 7% Regular Saver once you are a customer. That Regular Saver alone is reason to switch and stay.
The only real downside is no branches, which matters for some people and not others. If you need to deposit cash regularly or want a face-to-face relationship with your bank, this is not the one. For everyone else, especially if you are already comfortable doing your banking on a phone, it is a strong recommendation, better than the high-street alternatives in almost every measurable way.
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