Bank of Scotland vs First Direct: Switch Bonus Comparison
First Direct offers the better net value at £175 vs £0 after fees.
- Open a Classic, Silver or Platinum account
- Full CASS switch from another bank (not Lloyds or Halifax)
- Transfer at least 3 active direct debits
- Open account and start switch by 4 Aug 2026
- No pay-in requirement
- No Lloyds/Halifax/BoS switch bonus since 1 Jan 2023
- Full CASS switch with 2+ direct debits/standing orders
- Deposit £1,000 within 45 days
- 5 debit card transactions within 45 days
- Register for digital banking
- New customers only (never previously held First Direct account)
- £175 paid ~14 working days after switch starts
- Classic account is fee-free
- Up to 15% cashback offers with debit card
- 7% AER Regular Saver (up to £300/month)
- £250 interest-free overdraft buffer
- Fee-free debit card spending abroad
- Top-rated customer service
Verdict: Bank of Scotland vs First Direct
First Direct comes with more perks (4 vs 3), including things like 7% aer regular saver (up to £300/month).
Frequently Asked Questions
Which has the higher switch bonus, Bank of Scotland or First Direct?
Currently only First Direct has an active switch bonus. Bank of Scotland does not have an active offer at this time.
Can I switch to both Bank of Scotland and First Direct?
Yes, you can switch to both banks, but you need to do them one at a time using the Current Account Switch Service (CASS). Complete one switch, wait out the cooling-off period, then switch again to the second bank.
How long is the cooling-off period for Bank of Scotland and First Direct?
The cooling-off periods are: First Direct: 12 months. During this time you cannot switch away without potentially losing your bonus.
Which bank is easier to switch to, Bank of Scotland or First Direct?
Both banks use the Current Account Switch Service (CASS), which makes the process straightforward. The main differences are in specific requirements like minimum pay-in amounts, number of direct debits, and whether you need to use their app. Check the requirements comparison above for full details.