First Direct vs Santander: Switch Bonus Comparison
Santander offers the better net value at £200 vs £175 after fees.
Some links on this page are affiliate links. If you apply through them, we may earn a commission at no extra cost to you. This doesn't affect our editorial independence — we list all offers regardless of whether we have an affiliate relationship.
- 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)
- Full CASS switch
- Pay in £1,500 within 60 days
- 2 active household direct debits within 60 days
- Cannot have held a Santander current account on 1 Jan 2025
- 7% AER Regular Saver (up to £300/month)
- £250 interest-free overdraft buffer
- Fee-free debit card spending abroad
- Top-rated customer service
Verdict: First Direct vs Santander
Santander offers the higher switch bonus at £200 vs £175.
Santander has fewer requirements (4 vs 5), making it simpler to qualify.
First Direct comes with more perks (4 vs 0), including things like 7% aer regular saver (up to £300/month).
First Direct has the better regular saver rate at 7% vs 5%.
Frequently Asked Questions
Which has the higher switch bonus, First Direct or Santander?
Santander currently offers the higher bonus at £200, compared to £175 from the other bank.
Can I switch to both First Direct and Santander?
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 First Direct and Santander?
The cooling-off periods are: First Direct: 12 months, Santander: 12 months. During this time you cannot switch away without potentially losing your bonus.
Which bank is easier to switch to, First Direct or Santander?
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.