First Direct: £59 Free Cash | Quidsy

First Direct

£59 Free Cash

Regular Saver (7.0%)

First Direct is the UK’s pioneering branchless bank, launched in 1989 as a division of HSBC. They’ve consistently topped customer satisfaction surveys and serve around 1.9 million customers with 24/7 UK-based phone support.

They offer the fee-free 1st Account, savings, credit cards, mortgages, and personal loans. First Direct is known for fee-free overseas spending and competitive savings rates including this 7% Regular Saver.

You’ll need a First Direct 1st Account to open this Regular Saver. If you don’t already have one, we’d recommend doing the First Direct bank switch first — you’ll pick up a switching bonus and get the current account you need in one step.

Launched: 1989
Customers: 1.9m+
Google Play: 2.8 (19k)

£59profit

17mins to complete

Offer overviewChris · Your personal guide

First Direct is a branchless UK bank offering current accounts and savings by app and phone.

About £59 more than an easy-access account on the same deposits, from a fixed 7% on up to £300 a month for 12 months. Unlike most regular savers, the rate cannot drop mid-term.

The catch is the other side of that: no withdrawals. Taking money out early means closing the account and dropping to the standard variable rate. Only open it if you can leave the money alone. You need a 1st Account, so do the switch first.

Key terms

+£59

Interest rate7% AER

(fixed)

Monthly depositUp to £300

Term12 months

Total max deposit£3,600

(12 × £300)

RequiresA First Direct 1st Account

Withdrawal termsNo withdrawals allowed. To access money early you must close the account, and the interest drops from 7% fixed to the standard savings variable rate (currently 1.15%). Only open this if you’re confident you won’t need the money for 12 months.

Step by Step Guide

Start here

Open a First Direct Regular Saver

10 mins

1
Log in to First Direct online banking or the mobile app
2
Navigate to Savings and select ‘Regular Saver’
3
Choose your monthly deposit amount (£25 to £300 in multiples of £5)
Your first payment is taken from your 1st Account on the day you open, and a standing order is set up automatically for the same date each month

Mark as complete

Up next · 2 steps

Set up your standing order

5 mins

First Direct sets up the standing order automatically from your 1st Account
Note the payment date — it can’t be changed once set
To change the amount, contact First Direct via the app, online banking, or phone before your next payment date
Only one payment per month is allowed, between £25 and £300

Mark as complete

Keep your standing order running each month

2 min

Your standing order runs automatically from your 1st Account each month. To change the amount, contact First Direct before your payment date.
You can pay between £25 and £300 per month (in multiples of £5). If you pay less than £300 in one month, you can make up the difference in future months.
Keep your 1st Account open for the full 12 months — the standing order must come from this account.

Withdraw your balance

Ends in 12 months

2 mins

After 12 months, your interest is added and the balance transfers to your First Direct Savings Account automatically
The maturity process can take up to 5 working days
Once matured, move your money to the best available savings account — the Savings Account rate will be lower

Mark as complete

3 steps to £59

Quick review

First Direct

Wondering whether First Direct is worth it beyond the bonus? Here is our honest take.

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.

CategoryRegular Savers

Last updated16 May 2026

Chris' verdictYour personal guide, Quidsy

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.

Read the full First Direct review

Back to Offers List

Next Offer

£32 Free Cash

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.