First Direct cash ISA?

Energize

Thinking of transferring my A&L ISA to this now that the bonus rate is almost up, has anyone had any problems or is this ISA all ok?

VfM4meplse

I am always singing the praises of FD. This year there are 2 eISA options - lump sum @3.1% or drip feed @7%.

dreamypuma

VfM4meplse wrote: »

I am always singing the praises of FD. This year there are 2 eISA options - lump sum @3.1% or drip feed @7%.

I applied for the Cash e-ISA fixed at 3.1% last Tuesday. As far as the product is concerned, I think it's brilliant. fixed until April 2010, allows transfers in and withdrawls. I like the fact that it's a HSBC group product as well.

I haven't received my paperwork yet, and will need to trasfer two ISA's into this product.

I here the customer service is brilliant. I've called them once and the phone was answered withing two rings, answered by someone in the UK, and the person who answered dealt with my query. No being passed around the houses.

Not sure why everyone is jumping on the Natwest band-waggon, for their variable rate product. No doubt the rate will plummet.

Meanwhile we'll just see how smoothly FD perform.

sparklygemster

I had a cash e-isa last year, which was ideal for me at the time, this year ive gone for the regular saver isa which is 7% as ive got my bank account with them, ive never had a bad thing to say about them in the 3+ years that ive been with them, always get straight through on the phone to someone in the UK (although i do everything online where possible).

kezzapee

I echo the comments already made here. I have First Direct's regular saver ISA and do all my banking with them. Their customer service is second to none and this is worth as much, if not more, than any interest rate! (IMHO)

Rich1976

I can only agree with all the comments above. I have had a current account and a credit card with FD for 18 months and have never failed to be impressed by them. Last Friday I decided to open their Regular Saver ISA and what was surprising was they confirmed the account number and sort code immediately. Normally with other providers you have to wait for everything to be confirmed in the post. I also echo the previous post about the Natwest ISA or the Barclays one. They may be offering as good rate but these two are renowned for doing the dirty after a few months and cutting the rates - also have you heard anyone praising Barclays Customer service?

I have accounts with HSBC, First Direct and a couple of the bigger building societies and while the rates may not be best, you at least know they're not going to rip you off after a few months

funkyhitman

Rich1976 wrote: »

I have had a current account and a credit card with FD for 18 months and have never failed to be impressed by them. Last Friday I decided to open their Regular Saver ISA and what was surprising was they confirmed the account number and sort code immediately. Normally with other providers you have to wait for everything to be confirmed in the post. I also echo the previous post about the Natwest ISA or the Barclays one. They may be offering as good rate but these two are renowned for doing the dirty after a few months and cutting the rates - also have you heard anyone praising Barclays Customer service?

Perhaps the reason they confirmed your account number and sort code immediately is because you are already a customer? I applied for their fixed ISA this year and have not heard a peep, not even an email confirming my application so I'm not even sure they received it ok. I'm sure my application documents will arrive in the post soon but it would have been nice to get a 'thank you for applying for our isa' just to know that it actually went through!

I also find it hilarious that everyone seems to be going mad for this natwest isa at 3.51%...they don't realise that Natwest have yet to drop the rate in accordance with the last two bank of england base rate drops. There's going to be a lot of shocked people when they drop the rate to below 3% and us FD customers will be gleaming with joy because we chose wisely! I'm convinced the 3.1% fixed rate is one of the best at the moment because when the base rate drops down to 0%, it'll be above many variable rate accounts!

dreamypuma

funkyhitman wrote: »

Perhaps the reason they confirmed your account number and sort code immediately is because you are already a customer? I applied for their fixed ISA this year and have not heard a peep, not even an email confirming my application so I'm not even sure they received it ok. I'm sure my application documents will arrive in the post soon but it would have been nice to get a 'thank you for applying for our isa' just to know that it actually went through!

I have to agree with this, as a current account holder, they will already be able to pre-qualify your details for the product. Whereas with new customers there will be various check that they will make before accepting the application.

I too would have been grateful if they had sent an email just acknowledging the receipt of my application.

My application will have been a week, as of tomorrow. I think I have read somewhere on this site that the forms are sent out to sign after a week. I've also heard that the transfer forms are on request and are sent out separately to the initial forms. I'll just have to wait and see. (may not have even got my application)

I'm sure once it's all open and done things will be fine. I also like the fact that you can look at quarterly statements on-line. Most banks, when it's in, it's in and you won't hear from them for a year. (unless your called Lloyds and then you write to customers begging them to take their money out of their FRISA at 6.5%, because they aren't profitable)

russ_c

When we received the application forms there was a tick box to request transfer forms but they never came ( i have heard others report this too).
So when the account numbers/ reg paperwork came and we had to phone in to reg the accounts had to request the transfer forms then.
annoying i know but it seems to be the way they work.

7sefton

Hmm, I wasn't impressed with FD's 'legendary' customer service... the advisor said I couldn't open an account just by transferring previous years' funds, but also had to make a deposit for the current tax year. Not sure if she was right, but if so this is silly. Halifax, on the other hand, have been brilliant.

blainee

My wife and I have our Cash ISAs with First Direct and to date had been quite pleased. But for existing Cash ISA holders the rate is 0.2% rather than the 3.2% for tranfers into their new ISA. Existing First Direct cash ISAs cannot be transferred to this new rate. So if you transfer into First Direct be prepared to transfer out again once the year is over.