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  • FIRST POST
    • MSE Ryan
    • By MSE Ryan 4th Jan 17, 2:58 PM
    • 35Posts
    • 35Thanks
    MSE Ryan
    First Direct Current Account Switch Blagged Deal
    • #1
    • 4th Jan 17, 2:58 PM
    First Direct Current Account Switch Blagged Deal 4th Jan 17 at 2:58 PM
    Hi guys, we're featuring a new exclusive offer on the site that whilst perhaps not being suitable for everyone, we feel might be a good deal for some of you;
    http://www.moneysavingexpert.com/banking/compare-best-bank-accounts#firstdirect

    First Direct
    New. Free £125 cash & rated no.1 for customer service

    Newbies to First Direct* can now, via our link, get £125 to switch to it (£100 direct). It has excellent customer service – it's won every bank service poll we've ever done, with 91% of its customers rating it 'great' – only 3% said they got poor service. You also get a small £250 0% overdraft, and can open a linked 5% regular saver.

    Need-to-knows
    To get the £125 switching bonus, you need to use First Direct's switching service to fully switch and close your existing account and pay in at least £1,000 within three months of your account opening.
    Once you've made the payment, the £125 is credited to your account within 28 working days.
    This account has a £10 monthly fee, but this is waived each month you either pay in £1,000, have an average monthly balance of £1,000 or hold selected other accounts with First Direct.
    You can't get the switching bonus if you've ever held an account with First Direct before.
    First Direct shares its £75,000 UK savings safety guarantee with HSBC, so ensure you don't hold more than £75,000 across the two banks.

    You can find the rest of the need to know information via the above link.

    If you have any problems with the switching process, you can contact First Direct's account opening team on 0800 24 24 24.

    If you're still struggling, you can post on this thread, below, or reach us via direct email on: voucherhelp@moneysavingexpert.com
    MSE Ryan

    User Relations Manager
Page 3
    • meer53
    • By meer53 7th Jun 17, 8:24 AM
    • 8,942 Posts
    • 12,982 Thanks
    meer53
    Is it just me or is anyone else having problems applying for this account online? Everytime I try to, it kicks me off once I have completed all of my employment details, nothing is saved and then I have to start all over again from the beginning.This is the 3rd time its happened and I'm getting really frustrated, I had problems with Santandar too and Im fed up trying! Any really easy bank accounts to set up online out there?
    Originally posted by MandyHowes
    Call them ?
    • Dan5789
    • By Dan5789 18th Jun 17, 11:21 PM
    • 2 Posts
    • 0 Thanks
    Dan5789
    Leaving bonus AND Switching Bonus
    Does anyone know if it is possible to receive the £100 for leaving First Direct if you are doing so by switching to another bank using the switching service?

    Trying to work out whether I can gain both the £100 leaving amount AND a switching bonus from a new bank. Or if, in order to gain the £100 leaving payment from First Direct, I simply have to close my account.
    • YorkshireBoy
    • By YorkshireBoy 18th Jun 17, 11:38 PM
    • 29,529 Posts
    • 17,326 Thanks
    YorkshireBoy
    Does anyone know if it is possible to receive the £100 for leaving First Direct if you are doing so by switching to another bank using the switching service?
    Originally posted by Dan5789
    Some people have reported success when doing that. I'd suggest telling them beforehand (once the switch has been initated at the new bank), that you've invoking their 'leaving present' clause, rather than after the event. Shouldn't be a problem as they say they'll "help you move banks".
    • tebthereb
    • By tebthereb 21st Jun 17, 2:56 PM
    • 50 Posts
    • 12 Thanks
    tebthereb
    Does anyone know if it is possible to receive the £100 for leaving First Direct if you are doing so by switching to another bank using the switching service?

    Trying to work out whether I can gain both the £100 leaving amount AND a switching bonus from a new bank. Or if, in order to gain the £100 leaving payment from First Direct, I simply have to close my account.
    Originally posted by Dan5789
    Yes why not? As far as First Direct are concerned, switching out and closing your account with them is presumably the same thing. I did it as part of a switch to Nationwide.

    As has been said follow their T&Cs, and tell them in advance. They came back with a load of nonsense, about why I didn't qualify, and when I complained to them they ended up giving me a goodwill gesture plus the goodbye payment.
    • KJolly2018
    • By KJolly2018 28th Jun 17, 7:20 PM
    • 1 Posts
    • 0 Thanks
    KJolly2018
    bank switch offers and name changes
    Does anyone know if you can still get the switch offers if you were a previous customer under a different name? I've recently got married so my last name has changed since I last banked with FD.
    • YorkshireBoy
    • By YorkshireBoy 28th Jun 17, 7:56 PM
    • 29,529 Posts
    • 17,326 Thanks
    YorkshireBoy
    Does anyone know if you can still get the switch offers if you were a previous customer under a different name? I've recently got married so my last name has changed since I last banked with FD.
    Originally posted by KJolly2018
    ...but you have the same first name, the same DOB, and the same traceable address history, all of which you have to tell them on the application form - along with any other names you've been known by. So what do you think?
    • surreysaver
    • By surreysaver 2nd Jul 17, 6:37 PM
    • 2,342 Posts
    • 1,316 Thanks
    surreysaver
    I've applied earlier for the First Direct account and am now having second thoughts after reading this thread! What surprised me was you don't get an instant approval or rejection when you apply online like I've had with every other account I've applied for over the last week. Maybe its because I answered their questions truthfully about not having my income paid into the account and paying in £1000 every month. I also believe I held an ISA with them several years ago which I believe forbids me from claiming the £125 switching bonus. We'll see - I might ring them up to cancel my application, or see if it goes through for the regular saver.
    I consider myself to be a male feminist. Is that allowed?
    • fran-gipane
    • By fran-gipane 2nd Aug 17, 10:31 AM
    • 1 Posts
    • 0 Thanks
    fran-gipane
    Hi

    I think it is very important to point out that they are rejecting applicants in shared accommodation or similar. I had a call yesterday and my application was rejected on the grounds that my the owner of the house could intercept my mail.

    Now, the lady did agree it was a bit "stupid" and I think very short sighted considering today's world and living situations. They do not have an alternative, apparently.

    What frustrates me is the following:
    - The application process is very extensive, I spent a good 20 minute on filling it in. It would have been nice to have a disclaimer somewhere that says: if you share your mailbox don't bother
    - Also...really!?!? Why not over signed for services? I would have been happy to pay for that. It seems ridiculous that they might pay you a bonus for opening the account but don't have an alternative for a very minor problem

    Could you please update the details on the offer so people know?

    Cheers
    Fran
    • Huggis
    • By Huggis 5th Aug 17, 10:09 PM
    • 2 Posts
    • 1 Thanks
    Huggis
    I wouldn't bother..we switched to them 2 years ago and have since switched back to TSB. Every aspect of managing the account was really arduous!
    • joe_easy_london
    • By joe_easy_london 18th Aug 17, 3:36 PM
    • 1 Posts
    • 1 Thanks
    joe_easy_london
    Hi

    I used the MSE link and have switched my accounts but have only received £100 fee not the £125. Has this happened to anyone else and what did you do?

    Joe
    • eskbanker
    • By eskbanker 18th Aug 17, 4:37 PM
    • 5,793 Posts
    • 5,678 Thanks
    eskbanker
    Hi

    I used the MSE link and have switched my accounts but have only received £100 fee not the £125. Has this happened to anyone else and what did you do?

    Joe
    Originally posted by joe_easy_london
    What did First Direct say was the reason for this when you asked?
    • Enobarbus3
    • By Enobarbus3 23rd Aug 17, 2:23 PM
    • 1 Posts
    • 1 Thanks
    Enobarbus3
    Catch 22
    I am also with Virgin One and my mortgage has been redeemed and title deeds returned. I need to move accounts, Virgin One are appalling and getting worse. I tried switching to First Direct where my wife banks.She loves them and the money is an additional incentive. I also found out that I cannot switch a joint account to a sole account. Virgin One say they have no relationship with RBS so cannot do anything. All they can do is close the account. I have many direct debits and standing orders on the One Account. So how can I switch accounts using the much vaunted switching system? The BACS current account switch site says that I can switch a joint account to a sole account with the agreement of both parties but the Banks are saying no. I am left with the solution of closing the account and manually moving all of my direct debits and orders . No wonder few switch. Any ideas?
    • eskbanker
    • By eskbanker 23rd Aug 17, 4:45 PM
    • 5,793 Posts
    • 5,678 Thanks
    eskbanker
    Virgin One say they have no relationship with RBS so cannot do anything.
    Originally posted by Enobarbus3
    Not sure who you're speaking to but I'd say it was the other way round - the account is part of RBS and nothing to do with Virgin!

    The BACS current account switch site says that I can switch a joint account to a sole account with the agreement of both parties but the Banks are saying no.
    Originally posted by Enobarbus3
    It doesn't actually say that, it says (at https://www.currentaccountswitch.co.uk/helpandsupport/Pages/help.aspx) that you can switch joint to joint if both agree but specifically not joint to sole:
    I have a joint account. Can I switch my current account?
    Yes, as long as both parties agree to the switch and you are switching to another joint account. It is not possible to use the service to switch a joint account to a sole account.
    Any ideas?
    Originally posted by Enobarbus3
    According to post #11 (which is perhaps what you were replying to?) the One account isn't compatible with the switching service anyway, so it looks like a manual process is all you have left.
    • djpailo
    • By djpailo 24th Aug 17, 1:56 PM
    • 428 Posts
    • 143 Thanks
    djpailo
    I wouldn't bother..we switched to them 2 years ago and have since switched back to TSB. Every aspect of managing the account was really arduous!
    Originally posted by Huggis
    You miss out on a 5% regular saver though. It would be better to keep the first direct account open, just use it for a regular saver, then use the TSB account as your main account. It is advised to always have two current accounts at a time, incase one is temporarily locked at short notice by the bank.
    • invisibility
    • By invisibility 3rd Oct 17, 11:02 AM
    • 20 Posts
    • 12 Thanks
    invisibility
    I got turned down for their current account today due to no regular income. Quite frustrating because I can't find anything anywhere saying that you need one. I told them this and they just said "well it doesn't need to be in the T&C as we are a income based bank"...
    • binaryuniverse
    • By binaryuniverse 4th Oct 17, 7:29 PM
    • 464 Posts
    • 247 Thanks
    binaryuniverse
    Finally got an account on the third time of asking. Had to go through a phone application as the online system already had details from a previous application. But the lass was very helpful, clear and pleasant.
    Have confirmed my switch bonus offer is still £125, and she said that'll be fine.

    Will probably use this account as my main one now, whilst the others are purely for savings.
    • phantasticalkat
    • By phantasticalkat 8th Oct 17, 6:34 PM
    • 1 Posts
    • 1 Thanks
    phantasticalkat
    Length of time to keep the account open
    Is anyone aware if this requires a length of time to hold the account? If I were to get the account, pay in the £1000 and receive the £125 and then close the account not long after, would this void the £125?
    I know many accounts need a period of time to hold the account open and use it.. I think this is true of the HSBC switch needing 12 months of their monthly requirements for example.. but nothing is mentioned regarding the First Direct switch. So is this an exception?

    Thank you for all your help!
    • YorkshireBoy
    • By YorkshireBoy 8th Oct 17, 6:40 PM
    • 29,529 Posts
    • 17,326 Thanks
    YorkshireBoy
    Is anyone aware if this requires a length of time to hold the account? If I were to get the account, pay in the £1000 and receive the £125 and then close the account not long after, would this void the £125?
    Originally posted by phantasticalkat
    FD's incentive T&Cs run to 3 paragraphs only. If you can't see such a clause there isn't one!
    I know many accounts need a period of time to hold the account open and use it..
    There is, in fact, only one switching incentive that stipulates a minimum time to stay 'without good reason', and that's Nationwide.
    I think this is true of the HSBC switch needing 12 months of their monthly requirements for example..
    That's only for the extra £50. You can leave with the initial £150 anytime you like after it's been paid.
    but nothing is mentioned regarding the First Direct switch. So is this an exception?.
    No, it's the norm...see above.
    • binaryuniverse
    • By binaryuniverse 12th Oct 17, 2:57 PM
    • 464 Posts
    • 247 Thanks
    binaryuniverse
    Is this going to affect credit scores?
    Originally posted by thebestdayever
    It won't affect your credit history in a meaningful way, if that's what you're asking.

    Your 'score' will mostly likely drop as a result of having a credit search, opening a new account and having a bit more credit available. But that doesn't matter to anyone in the slightest.
    • em_z
    • By em_z 13th Oct 17, 3:50 PM
    • 120 Posts
    • 45 Thanks
    em_z
    I'm thinking of doing this. I'm happy with my bank but the £125 would come in handy. Has the process gone smoothly for those who have switched so far?
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