First Direct Current Account Switch Blagged Deal

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
«13456719

Comments

  • Hi

    I've followed the link in the post but the First Direct page it opens says you only get £100 for switching? Can you advise please?

    Thanks
  • I'm the same as you I've applied for an account to switch and it also says £100 not £125..
  • WillPS
    WillPS Posts: 3,257
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    Any word on lead time? I applied on Fri 20th but not heard anything yet.
  • Hi,

    Well, my wife went through this link, carried out the application process online entirely, was accepted and waited 3 weeks, no paperwork ever arrived.

    A phone call to First Direct today revealed that as she was a "person on record" ie, that as she was jointly named on a mortgage with First Direct a few years ago, which meant that any online application for a current account would be null and void. First Direct claimed they emailed my wife to this affect (nothing received). My wife was told she would have to apply on the phone (50-60 minute call, the operator advised). I have absolutely no idea why being a previous customer (of good standing, i should add) should entirely invalidate an online application process but there you go. Pretty shoddy for a bank that prides itself on good customer service.
  • Followed the link from the latest e-mail. Filled in the switching form. First Direct rang me the following day to discuss my application and insisted that I go through an hour of their phone application process. I was then informed that the bonus was only £100 because the extra £25 is only for money saving expert applications. The next day I get a phone call, get bounced across three departments who could not find my details and back to the first one. I was then informed that they had refused my application because I have no regular income. (Despite no mortgage and £250,000 in investments.) They also failed to provide any compensation for the 2 hours of my life that they have no wasted.
  • WillPS
    WillPS Posts: 3,257
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    I *finally* got my acceptance letter today. Never had to wait so long before!
  • Katiehound
    Katiehound Posts: 7,513
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    Just to point out if you have ever been a customer you are not eligible!
    I used to bank with them..... er... perhaps more than 20 years ago?
    Being polite and pleasant doesn't cost anything!
    If you found my posting helpful please hit the "Thanks" button!
    Many thanks
    -Stash busting: 337 in 2022
    Stash busting: in 2023. 120 doggy duvets, 24 shopping bags, 43 dog coats, 2 scrunchies, 10 mittens, 6 bootees, 8 glass cases, 2 A6 notebooks, 59 cards, 6 lavender bags,36 crochet angels,9 woven bones, 1 crochet knee blanket, 1 lined bag,3 owls, 88 pyramid pouches = total 420...£119.50 spent- £114.50 earned= total spend £5. Total earned for 'Dogs for Good' £546.82

    2024:23 Doggy duvets, 24 pyramid pouches, 6 hot water bottle covers, 4 knitted beanies, 1 crochet angel= 58 £61 spent!!! already
  • WillPS
    WillPS Posts: 3,257
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    Katiehound wrote: »
    Just to point out if you have ever been a customer you are not eligible!
    I used to bank with them..... er... perhaps more than 20 years ago?
    I think you can ask them to remove all records on you at that point, surely?
  • Ive recently opened a first direct account, completed my switch and have been using the account since I was paid, 28th Feb. I keep seeing 'RESIDUAL BALANCE' payments - I have no idea what these are, i had one for £5 and today one for £94.11
    Anyone know what these are? Should I be worried?
  • I decided to go for this, applied on line for the account then discovered that my current account the Virgin One Account ( run by RBS, but an account in its own right with its own rules) cannot be switched using the full switch service. Virgin One say they can do a partial switch,whatever that is, but this would not give me the £125 joining bonus. Apparently, Virgin One is not strictly a current account, as it was designed as an offset facility (mortgage) account. I haven't drawn on the facility for at least 8 years, and chose to remove the facility altogether in 2013 in order to get the deeds to my property returned to me. I run it as a current account with debit card, cheque book , direct debits etc.. So, I've cancelled the First Direct account application as I've no particluar beefs with Virgin One and was only switching for the £125. It was, in fact, a teriffic choice at the time for a mortgage... paid it off in no time whilst keeping interest payments as low as possible.
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