The bank said it previously saw significant take-up of the incentive when it launched for four weeks in late March.
Switchers must go through the Current Account Switch Service process to transfer their everyday banking to receive the £175.The bank has not given a date for when the £175 switching incentive will be withdrawn but Chris Pitt, chief executive of First Direct, said the offer “will only be around for a limited time only”.To receive the incentive, customers must also not previously have held a First Direct product or opened an HSBC current account on or after January 1 2018.
Several other banks, including NatWest, Lloyds Bank and Santander, had ended offers of cash to switch. Some had been offering as much as £200.
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