Brits can pocket free £200 after high street bank axes £15 insurance perk

Customers of one British bank might want to start shopping around, after it was revealed they're axing a popular perk.

First Direct bank will be doing away with their 'First Directory' insurance bundle which cost £15 a month for travel insurance, mobile insurance and breakdown cover, which saved some people quite a lot of money.

The bank had stopped offering it to new customers back in 2020, but had allowed existing ones to continue using it.

Now though, they have decided to do away with it altogether from July 31, 2026, so now's the time to check out a switch offer.

After this date, existing cover will be extended for free until 31 October 2026, with some important exceptions, advises Money Saving Expert.

For travel insurance, you'll be covered for trips booked up to and including 31 July 2026, which start up to and including 31 October 2026.

Want to bag some extra cash this summer? Try out these lucrative deals for switching (Getty Stock)

There won't be any cover for trips booked after 31 July 2026.

For mobile insurance you'll be covered up to and including 31 October 2026 for any devices purchased on or before 31 July 2026, and for car breakdown cover you'll be covered until October 31st.

Happy Halloween, everyone.

There are some lucrative deals up for grabs with rival banks if you want to switch away from First Direct, in light of the First Directory being cancelled.

Here are some of the best offers:

Co-op Bank's Everyday Extra

This one is the most similar to what First Direct was previously offering.

New customers can get a free £125 cash bonus for switching plus possibly an extra £75 on top.

For £12 a month, Co-op Bank's Everyday Extra offers worldwide travel insurance for your family, in addition to mobile phone and breakdown insurance for account holders.

This makes it almost a straight swap for the First Direct account, and you'll save a couple of pounds a month, too.

To get the bonus, you need to switch from a different bank and then within 30 days of the switch completing, set up 2+ Direct Debits, pay in £1,500+ and make at least five payments using the debit card to get £125.

You can then get an extra £25 per month for the next three months that you pay in £1,500+ and maintain 2+ Direct Debits, as well as make at least five payments using the debit card.

You can sort travel insurance with many of these deals, too (Getty Stock)

Santander's Edge Explorer

For £17 a month, Santander's Edge Explorer account gives you worldwide family travel insurance, including winter sports, as well as mobile phone insurance and UK an European breakdown cover.

You can also get a £180 switch bonus if you open the account, then switch in from a different bank with 2+ active household Direct Debits, and you must also pay in £1,500+ within 60 days.

That's not all, new customers can also bag a £150 hotel voucher, if you keep the account open you'll be emailed a code within 90 days, to be claimed via TLC's voucher portal within 60 days.

TLC will send an email with all of the details you need for how to access the £150 voucher.

The voucher must be redeemed within six months.

Nationwide's FlexPlus

This one's good if you're an older customer, as there's no maximum age for the travel insurance, unlike the others.

For £18 a month you'll get travel insurance, mobile phone insurance, and UK and European breakdown cover.

There's also £175 up for grabs.

To secure the cash, switch from a different bank including swapping 2+ Direct Debits to them within 28 days of opening the account.

Within 31 days of requesting switch, simply pay in £1,000+ and make at least one payment using debit card.