It is not often that we can report on how you can get your hands on free money, but a UK bank has announced that it is offering new customers £175 cash if they switch their accounts. First Direct is handing out the sum for those switching their current accounts to the bank using the Current Account Switch Service (CASS).
Of course there are a couple of caveats. Customers must pay in at least £1,000 within three months of opening the account to be eligible for the £175. Also, it's not available for anybody who has opened a HSBC current account on or after January 1, 2019.
The bank promises that the switch will be easy too. Birmingham Live reported the bank as saying: "We know switching banks sounds like it'll be a nightmare, but we promise it's not.
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Explaining the process, First Direct added: "With the Current Account Switch Service (CASS), choose a date and we’ll move everything over for you in just seven working days. Any (unlikely) mistakes will cost us, not you."
Chris Pitt, chief executive officer at the financial institution added: "Sorry, we can only offer this to people who haven’t previously held an account with us, and/or has not opened a HSBC current account on or after 1 January 2019. You may hold a HSBC account and still qualify for the offer, as long as the current account was opened before 1 January 2019.
"We reserve the right to refuse your application and withdraw this offer at anytime. Credit is subject to status and an assessment of your financial circumstances."
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