Banks are continuing to battle for new customers with increasingly generous cash incentives to switch accounts.
One major high street name has now increased its offer to match some of the biggest deals currently available.
First Direct has raised its current account switching bonus by £25, bringing the incentive up to £200 for new customers who make the move.
The online bank had offered £175 for several years but has now matched the top cash deals available from NatWest and Barclays.
Moneycomms personal finance expert Andrew Hagger said: "First Direct has consistently delivered first class customer service over many years with its UK-based call centre.
"The £200 switch offer is definitely worth a look particularly as the account comes with a £250 interest free overdraft and the option of a regular savings account paying 7 per cent."
The increase suggests First Direct needed to strengthen its offer to stay competitive in the battle to attract new customers.
The 1st Account also includes several features beyond the switching bonus.
First Direct was pointed to as having the best switch deal | PACustomers receive a £250 interest-free overdraft as standard, offering extra flexibility for those who occasionally go overdrawn.
There is also access to a linked regular savings account paying seven per cent interest, which offers a competitive rate for those looking to build up savings gradually.
Travellers will benefit from the debit card's fee-free foreign spending, with transactions processed at market exchange rates rather than incurring additional charges.
The account itself carries no monthly fee, making it a straightforward option for those seeking a simple banking arrangement.
First Direct operates without physical branches but customers can use HSBC locations for counter services such as depositing cash and cheques.
Savers look to secure a guaranteed return on their cash may want to act quickly | GETTYTo claim the £200 bonus, customers must use the Current Account Switch Service and transfer at least two direct debits to their new account.
They also need to deposit £1,000, make five or more debit card payments, and log into the bank's app or online banking service.
However, not everyone can take advantage of the offer.
Anyone who has previously held a First Direct product is excluded from the deal.
Those who have opened an HSBC current account on or after 1 January 2018 are also ineligible, as First Direct operates as part of the HSBC group.
The bank provides round-the-clock customer support through its UK-based call centre, available by phone and live chat.
Rachel Springall, finance expert at Moneyfactscompare.co.uk, said: "It is worth pointing out that current account switching offers do not sit on the shelf for too long, they can come and go throughout the year, and some can be pulled with little notice."
She added that customers should not feel pressured into making a quick decision and ought to weigh up all the perks against competing products.
The £200 bonus from First Direct now sits alongside identical offers from NatWest and Barclays.
NatWest's Rewards account includes a monthly rewards scheme, while switchers also gain access to a 12-month fixed bonus rate on its Digital Regular Saver.
Santander currently offers £180 for switching to its Edge range or Everyday Current Account.