How to open a First Direct account?

First Direct is a popular online bank in the UK, owned by HSBC and with around 1.5 million customers.¹ It offers a range of current accounts, savings accounts, loans, credit cards, mortgages, insurance products and other financial services.

If you’re interested in opening a First Direct account, read on. We’ve put together a guide covering exactly how to do it. We’ll run through the documents you need, the eligibility requirements for First Direct accounts and how to start an application.

And while you’re shopping around for a new account, make sure to check out the Wise account. It’s ideal for international transactions, including overseas card payments.

But for now, let’s get that First Direct account opened for you.

Who is eligible for a First Direct account?

The eligibility requirements for First Direct current accounts aren’t very strict. This means that almost anyone can open one. You’ll just need to have avoided any major mishaps in your financial history.

To open an account, you’ll just need to meet the following requirements:²

• Be a UK resident
• Be over the age of 18
• Not have been declared bankrupt within the last 6 years (or be in the process of being declared bankrupt)
• Not have registered for an Individual Voluntary Agreement (IVA) within the last 6 years (or be in the process of doing so)
• Have an email address and phone number.

You’ll also need to have a smartphone, as First Direct accounts can only be opened via a mobile app. We’ll look at this in more detail next.

Interested in opening a First Direct savings account? You’ll need to have a current account with the bank first, as its savings accounts are only available to existing customers.

What details and documents you’ll need

Before you apply for a First Direct account, you’ll need to gather a few documents and have some details ready.

Here’s what you’ll need:

• Your personal details, including home address, contact details, nationality and tax residency status (if you’re new to First Direct)
• Your financial details, such as monthly take-home pay (if applying for an overdraft)
• Proof of ID, such as your UK passport or driver’s licence
• Proof of address, such as a recent UK utility bill, bank statement, council tax bill or driver’s licence.

How to apply for a First Direct current account

Now you’re ready to apply for your account.

The most important thing to know is that it’s only possible through the First Direct mobile app. This is available to download on Google Play and the App Store for compatible Android and iOS devices. So, you’ll need your phone in order to start the application process.

Then, follow these steps:

1. Download the First Direct app
2. You’ll have a choice of opening a new account or switching over from another bank. You can do both wholly through the app.
3. Follow the on-screen steps to complete your application
4. Provide your personal details and upload ID documents when requested.
5. Check your application and submit.

When you’re applying for your new First Direct account in the app, you’re likely to see the option to use the Current Account Switch Service.

This is a good option if you have a current account with another bank, and want to switch over to First Direct.

The Current Account Switch Service aims to make it quicker and easier to switch banks. It guarantees to have your new account open and your old one closed within 7 days, moving over all of your direct debits and standing orders too.

First Direct switching bonus

Like a number of UK banks, First Direct is offering an incentive to lure in new customers.

At the moment, it is paying a £175 welcome bonus for new customers. To get the cash, you’ll need to meet the following conditions:²

• Switch to First Direct using the Current Account Switch Service
• Deposit at least £1,000 within 3 months of opening the account
• Not have previously held a First Direct product, or have opened an HSBC current account on or after 1st January 2020.

How to apply for a First Direct savings account

It’s really easy to apply for a First Direct savings account. You’ll need to be an existing customer to be eligible though. So if you haven’t already, you’ll need to open a current account using the steps above.

Once your account is up and running, you can simply sign into the First Direct mobile app to browse and apply for savings accounts. The easiest way is to start a chat with customer services in the ‘Help’ section of the app.

You can also apply via online banking. Follow these steps:³

1. Go to the First Direct website and login to online banking
2. Select ‘Message us’
3. Type ‘Apply for a savings account’
4. Choose ‘Open a new account’ and then ‘Open a new savings account from the list of options’.

How long does it take to open a First Direct current account?

First Direct doesn’t say on its website exactly how long it takes to open its current account.

However, if you use the Current Account Switch Service, this guarantees that your new account will be open within 7 working days.

Once your account is up and running, you’ll get a virtual debit card to use right away. This means you won’t need to wait until your debit card is posted out to you. You’ll also have instant access to your account in the First Direct mobile app.²

Manage your money internationally? Choose Wise

While you’re comparing accounts and providers, make sure to check out the Wise account.

When you sign up online with Wise, there’s no initial or monthly fee to pay.

You’ll get a powerful account for managing your money in 40+ currencies, including making international payments for low fees and mid-market exchange rates.

You can even receive money for free in 9 major currencies, as Wise gives you your own local account details.

For a one-time cost of just £7, you can get a Wise debit card which has no foreign transaction fees for spending abroad. You can withdraw up to £100 a month from overseas ATMs with no Wise fees.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

And that’s it - a full run-through of how to open a First Direct app. If you’re mobile-savvy, you should find it pretty straightforward, as everything’s done through the app. But if not, First Direct’s customer service team will be on hand to help.

Sources used:

Sources last checked on date: 31-Jul-2023