Moving current account to FD

Fairzo

Hello all, first post so please be gentle.

Seriously thinking about moving current account to First Direct (been with Abbey for 22 years but can take no more). FD seems to be well regarded on these boards.

My question relates to timescale of the Standing Order / Direct Debit changeover. Can anyone with recent experience give me an idea how long this takes once I give the go ahead?

Thanks for any advice.

Rafter

Fairzo,

I think if you go to the banking code website it tells you the minimum standards you can expect.

From experience, you should allow a couple of weeks and also try to keep a buffer of funds in both accounts. As long as it isn't your fault, any fees or charges from bounced direct debits will be refunded.

Can't fault first direct for service after over 10 years with them.

Good luck

R.

focae

I have been with First Direct since they started in the 90's and as long as nothing changes would not even consider moving from them. Their customer service is second to none. Any problems are always sorted quickly and I can always understand the person at the call centre, unlike HSBC who I always struggle with.

I do use other banks to take advantage of offers and my son has recently transferred his account from HSBC to FD. To avoid any potential problems with standing order and direct debit transfers, just keep both accounts open and monitor them closely, funding the accounts as necessary when !!!!-ups occur - and they will - my son's employer still transfers his expenses claims to HSBC even though they pay his wages into FD. When they eventually sort it he will close the HSBC account.

stella2009

Fairzo wrote: »

Hello all, first post so please be gentle.

Seriously thinking about moving current account to First Direct (been with Abbey for 22 years but can take no more). FD seems to be well regarded on these boards.

My question relates to timescale of the Standing Order / Direct Debit changeover. Can anyone with recent experience give me an idea how long this takes once I give the go ahead?

Thanks for any advice.

I have just opened an account with them.

The account was opened on the 1st Jan and we had a letter last week to say that the changeover date for DDs and SOs is going to be 29th Jan.

Hope this helps.

heloid

My account was opened on the 6th and my DD's and SO's were transferred on the 29th as well (I received a letter on the 10th or so stating they received my list from HSBC and when they would do the transfer).

MoneySavingNovice

I have opened a First Account online on the 12th December, using their switching service. Amongst the many letters I received from them, was:-
a) one listing the DD's and Standing Orders I had - asking me to check and advise if any were missing, which they were not
b) confirmation that all would complete by the 6th Jan - which it did.

I must confess that I have been impressed so far, there have been no problems, the whole switching service seems to work well.

I was also impressed with there customer service agents which I had to ring up to set the on-line system going

So far so good!

Fairzo

Thanks to all for the helpful comments.