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    • Cotta
    • By Cotta 10th May 17, 7:47 PM
    • 2,285Posts
    • 937Thanks
    Cotta
    First Direct 125 Query
    • #1
    • 10th May 17, 7:47 PM
    First Direct 125 Query 10th May 17 at 7:47 PM
    Hi All,

    I just wanted to double check something. I've read through the terms and conditions for switching to First Direct.

    I have a dormant account, if I use it to switch and pay 1000 in I get the 125, is this correct?

    Thanks
Page 1
    • liltzero
    • By liltzero 10th May 17, 9:15 PM
    • 68 Posts
    • 18 Thanks
    liltzero
    • #2
    • 10th May 17, 9:15 PM
    • #2
    • 10th May 17, 9:15 PM
    it's possible
    • Cotta
    • By Cotta 10th May 17, 11:10 PM
    • 2,285 Posts
    • 937 Thanks
    Cotta
    • #3
    • 10th May 17, 11:10 PM
    • #3
    • 10th May 17, 11:10 PM
    So I do not need active direct debits?
    • YorkshireBoy
    • By YorkshireBoy 10th May 17, 11:35 PM
    • 29,038 Posts
    • 16,827 Thanks
    YorkshireBoy
    • #4
    • 10th May 17, 11:35 PM
    • #4
    • 10th May 17, 11:35 PM
    So I do not need active direct debits?
    Originally posted by Cotta
    The 125 incentive T&Cs* run to just 3 paragraphs, and the 2nd one isn't relevant to your query. Do you see a DD requirement there?

    In short:

    Open an account
    Switch to it using the CASS
    Deposit 1K
    Do all the above within the stated timescales

    And provided you've never had an account with them before you'll get your 125.


    * Possibly the clearest of all the incentive offer T&Cs out there!
    • Cotta
    • By Cotta 11th May 17, 9:28 AM
    • 2,285 Posts
    • 937 Thanks
    Cotta
    • #5
    • 11th May 17, 9:28 AM
    • #5
    • 11th May 17, 9:28 AM
    The 125 incentive T&Cs* run to just 3 paragraphs, and the 2nd one isn't relevant to your query. Do you see a DD requirement there?

    In short:

    Open an account
    Switch to it using the CASS
    Deposit 1K
    Do all the above within the stated timescales

    And provided you've never had an account with them before you'll get your 125.


    * Possibly the clearest of all the incentive offer T&Cs out there!
    Originally posted by YorkshireBoy


    Thank you, I thought as much, however it seemed too good to be true.
    • badger09
    • By badger09 11th May 17, 10:12 AM
    • 4,849 Posts
    • 4,042 Thanks
    badger09
    • #6
    • 11th May 17, 10:12 AM
    • #6
    • 11th May 17, 10:12 AM
    Thank you, I thought as much, however it seemed too good to be true.
    Originally posted by Cotta
    I don't want to rain on your parade, but before you start spending the 125, its worth knowing that First Direct are one of the most choosy banks. Just saying
    • Cotta
    • By Cotta 11th May 17, 11:46 AM
    • 2,285 Posts
    • 937 Thanks
    Cotta
    • #7
    • 11th May 17, 11:46 AM
    • #7
    • 11th May 17, 11:46 AM
    I don't want to rain on your parade, but before you start spending the 125, its worth knowing that First Direct are one of the most choosy banks. Just saying
    Originally posted by badger09
    That's the sting in the tail, is there also something in relation to having to setup an additional account to avoid 10 per month charges.
    • eskbanker
    • By eskbanker 11th May 17, 12:13 PM
    • 4,472 Posts
    • 4,211 Thanks
    eskbanker
    • #8
    • 11th May 17, 12:13 PM
    • #8
    • 11th May 17, 12:13 PM
    That's the sting in the tail, is there also something in relation to having to setup an additional account to avoid 10 per month charges.
    Originally posted by Cotta
    Fortunately they prominently publish how to accomplish this on their website, so you'll see it when you're doing your pre-application checks....
    • badger09
    • By badger09 11th May 17, 12:50 PM
    • 4,849 Posts
    • 4,042 Thanks
    badger09
    • #9
    • 11th May 17, 12:50 PM
    • #9
    • 11th May 17, 12:50 PM
    If you're accepted, you might also want to stay with them, rather than grab the incentive & move on. 5% on up to 300 pm Regular Saver is one of the best around
    • edinburgher
    • By edinburgher 11th May 17, 12:56 PM
    • 10,588 Posts
    • 54,911 Thanks
    edinburgher
    If you're accepted, you might also want to stay with them, rather than grab the incentive & move on. 5% on up to 300 pm Regular Saver is one of the best around
    Originally posted by badger09
    A much better reason to stay with them is how hard it is to come back if you leave. I've just got off the phone to them - a 60 minute phone call to make a new application if you're a former customer. Good grief....

    Is it worth it for the regular saver? Probably, not doing much else this evening
    • binaryuniverse
    • By binaryuniverse 11th May 17, 1:25 PM
    • 283 Posts
    • 119 Thanks
    binaryuniverse
    If you are after the linked savings accounts, an alternative is a Nationwide FlexDirect, where you can get a 100 switch bonus if you are recommended by a friend, and also switch 2 direct debits over.

    This account comes with 5% for 12 months on balances, plus a 5% regular saver account with max deposits of 500pm. Which is better than FD.

    If you want just the switch bonus then try Co-Op with 110. You need to switch 4 direct debits.


    But yes, FD are really hard to get in to these days. I've attempted to open 7 current accounts, over the last 4 months. Only FD turned me down.
    • badger09
    • By badger09 11th May 17, 1:44 PM
    • 4,849 Posts
    • 4,042 Thanks
    badger09
    If you are after the linked savings accounts, an alternative is a Nationwide FlexDirect, where you can get a 100 switch bonus if you are recommended by a friend, and also switch 2 direct debits over.

    This account comes with 5% for 12 months on balances, plus a 5% regular saver account with max deposits of 500pm. Which is better than FD.

    If you want just the switch bonus then try Co-Op with 110. You need to switch 4 direct debits.


    But yes, FD are really hard to get in to these days. I've attempted to open 7 current accounts, over the last 4 months. Only FD turned me down.
    Originally posted by binaryuniverse
    Cotta has been told about the Nationwide accounts in another thread

    http://forums.moneysavingexpert.com/showthread.php?t=5644036
    • Cotta
    • By Cotta 19th May 17, 9:27 AM
    • 2,285 Posts
    • 937 Thanks
    Cotta
    Got the account setup, I didn't experience any trouble - application form was completed online and around a week later a form was sent out for me to sign and return which I did. Job complete.
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