First Direct offer new customers £200 to switch banks - but you'll have to be quick

First Direct are offering new customers £200 to switch their bank accounts to them, but you'll have to think fast should you want to make the most of the enticing offer. In the latest edition of his Money Saving Expert newsletter, Martin Lewis and his team advised on a number of banks which are offering switchover bonuses to new customers.

And while some banks typically only pay small sums in compensation to lure new customers, First Direct has pushed the boat out with their current offer. Customers making the switch to a new First Direct 1st Account will be given £175, as well as a £30 Amazon voucher for making the move.

However, part of the deal ends at midnight Monday (June 19), so you'll have to be quick if you want to claim it in its entirety.