Easy £25 loophole Discussion Area

Bargain_Rzl

I phoned up First Direct last Wednesday, or was it Thursday? Anyway, quoted the code, got the application pack, filled in the form. NOW I'm waiting for the account to come through so I can pay in my £100.

I also need to get an ISA before 05/03 and want that nice 6.25% from FD. So if I apply for it now, while the current account is still being processed, will it invalidate my "new customer" status which is fundamental to getting the £25?

skiddy2k

with this current account that 'offered' £25 for the first £100 that gets depositied into the account, applicants will find that First Direct may contact them via phone or Post telling them to call first direct customer services or you'll recieve a call from customer services.

they will ask general security questions but all they really want to know is, do you have a home telephone line. this is for secutiry reasons, apparently!

if they contact you by post, you'll have to call them from your 'home land line' not your mobiles. if you call from your mobile phones, they'll ask you, whens the most appropriate time for THEM to call you at home?

a bit dodgy if your number is black listed and witheld all of the time in outgoing calls! dont know how they'll go abouts dealing with that!

lipidicman

They called me on my work line, and I phoned back to check it was a genuine call. it reminded me a bit of the scams when you get a call from a 'credit card security' person. When somebody calls me, I want to know WHO THEY ARE.

But in this case, it was genuine - so dont worry if you get one of these calls!

gavhen

well i dont want an account with them anymore after the service i've just had. i phoned up with the code only about a week after martin put up the article and i got through the forms, etc. and applied for the account. today i got a letter saying that my application had been turned down due to previously applying within the last 6 months. the thing is thats its over a year and a half since i applied last time and then i got turned down (thanks to an unknown bill from telewest 3 years ago for £10.00 after i moved house!).

i phoned them up just now and spoke to an initially polite man who then became rude. he agreed that i should be able to apply and would send me out the form again. i asked why they couldnt just reprocess what ive just sent them and he said they immediately destroy all applications if unsuccessful. so i asked would i still be able to claim on the promo code that i had given and he said that he could put me down for their latest code so i asked whether they were the same t+c's. needless to say they werent, i have to transfer my salary, etc, and he insisted there was no way i was able to use the old code.

he also then went onto ask why i would want to open the account!! so i said that they had advertised £25 for opening an account with only £100, who wouldnt want the account. then he was just really abrupt and before the call was finished he had also started to insist that i sent in a copy of the new clear credit report from experian along with my application before they would reprocess it.

i'd had enough by now and hung up after telling them that it just seems that they were doing anything not to honour their promotions.

i've now also realised that they havent returned my bank statement which i sent as proof of i.d. so i'm going to have to call them back :mad:

lipidicman

It seems the staff at first direct are annoyed about how this offer was set out. They must have been really busy and they know that a lot of people have no intention of banking with them (myself included - although I will use it as a backup if my wallet is lost/stolen again)

If I could do instant transfers between bank accounts I would use it as a billing account (I keep my DD and SO money in one account and my spending in the other - its easier to see what you have available without a madly fluctauting blance as the bills go out), as it is this will have to be done with two accounts at my main bank.

Back on the staff, your point about 'who would not want the offer?' is fair - and I dont understand why my friends or family couldnt be bothered, perhaps we are just a bit obsessed here. I see it that everybody wants my money all the time, and I want some back when I see a chance. The call-centre staff should be angry at their bosses not abrupt with customers. So far I have found them to be great (as I said I might even use the account, they have been so good).

If you write to customer services and explain that the refusal was in error (if it was 18 months) then they should extend the offer to you. I had a problem in Abbey where I missed the end of an offer because I was told the wrong thing in branch (that I had to close my existing current account as part of the switch) - they extended the offer to me after a couple of emails and a loose threat to 'take my complaint further'....this would have costed way more for them than the £40 credit.

Have you got your credit file sorted, and that late charge note removed - otherwise you will continue to have grief!

Good luck - HTH

Irons_2

Like many people I am in the process of setting up an account with First direct to get my £25 and then skip out after a couple of months. However using Martin's fantastic mortgage guide I am changing my mortgage to guess what First direct with offset - so if i opt out of the first direct current account though not for 3 months am i jeopardasing my chances of getting a mortgage with them which will happen In May.

karenj

gavhen wrote:

i asked why they couldnt just reprocess what ive just sent them and he said they immediately destroy all applications if unsuccessful.

Probably DPA regulations that's why they destroy the details.

Anyway, just logged on to my FD account and noticed they have credited me with the £35! Whoopee!!

nickinoo

skiddy2k wrote:

with this current account that 'offered' £25 for the first £100 that gets depositied into the account, applicants will find that First Direct may contact them via phone or Post telling them to call first direct customer services or you'll recieve a call from customer services.

they will ask general security questions but all they really want to know is, do you have a home telephone line. this is for secutiry reasons, apparently!

if they contact you by post, you'll have to call them from your 'home land line' not your mobiles. if you call from your mobile phones, they'll ask you, whens the most appropriate time for THEM to call you at home?

a bit dodgy if your number is black listed and witheld all of the time in outgoing calls! dont know how they'll go abouts dealing with that!

Just to let you know that if you have had your number withheld at your request by BT you can dial 1470 before a call & that will release your number on caller ID for that occassion.

I have just realised that my phone bill has not been returned to me, I must chase that up.

I think this account was really easy to open even though I am unemployed & my phone bill showed a debit of about £15 I was accepted no problems.

My question is how long does the "25 take to be credited? I really could do with that £100 back!

lipidicman

Irons wrote:

Like many people I am in the process of setting up an account with First direct to get my £25 and then skip out after a couple of months. However using Martin's fantastic mortgage guide I am changing my mortgage to guess what First direct with offset - so if i opt out of the first direct current account though not for 3 months am i jeopardasing my chances of getting a mortgage with them which will happen In May.

Why not just keep the account?

Rafter

Indeed,

If you are planning to offset I'd stay with them since part of the benefit of offseting is using the fluctuating balance of your current account to reduce your mortgage interest. And also avoid paying any tax on interest received on current or savings accounts (isas excluded).

I've been using the First Direct Offset account for 3 years and no complaints. I know I could probably get a better deal by swapping between discount mortgages, but to be honest, we can't be bothered with changing provider every 3 years and with one of us self-employed it is a big hassle getting a new mortgage offer each time.

first direct are not the cheapest, don't pay the very best interest but their customer service is second to none and they are the most recommended bank out there with Smile by their own customers.

If you are looking for a long term banking relationship, particularly with offset functionality they are really worth considering!!