Switching Current Accounts

gherkin

Morning All

I was just wondering whether any of you might have an answer query. Basically I currently have a Lloyds TSB current account but would like to switch to First Direct.

I've been with Lloyds pretty much since i was a wee lad so probably about 25 years and have never changed banks so a little apprehensive in doing it - i'm not liking the charges Lloyds are bring in to be honest and i'm not 100% satisfied with there Customer service.

How easy is this to do using the First Direct switching service. I appreciate that i have to give them details of my lloyds account but what i don't want happening is all the Direct Debits go over to First Direct before the salary and then the direct debits get activated and i'm left with a negative balance (thus clocking up over draft fees) before the salary comes over.

Hope that makes sense,

thanks

GFA

Its VERY VERY easy - I've literally just gone through the process myself last month. Once you give First Direct your existing bank details, they will obtain a list of all direct debits/standing orders on the account and you will need to let them know if there are any that shouldn't be switched. They'll also give you a provisional date for the switch to take place. If you're not happy with the date, you can suggest an alternative (later) date which is more suitable. This is what I did - I pushed back the date by a week to ensure that all direct debits had been paid from the existing account which gave me enough time to liaise with my employer so that I wouldn't get caught out. First Direct had no problem with this and at my request, were more than happy to confirm the revised date in writing so that there no issues. Coincidentially, today is the first day that the standing orders/direct debits are being paid from the account and so far so good. Its nice to come across a bank which makes the process so straightforward and painless!! :T

gherkin

thank you very much GFA, much appreciated, i'll start to ball rolling

GFA

You're welcome and good luck! Hope its a painless switch like mine was!!

Fairzo

Switched from Satander to FD in February and don't regret it for a second. Just keep a check on the DDs being taken through the FD account in the first month or so. I had 3 or 4 that didn't happen, due to the relevant Company not administering them properly.

allan673

you could also phone everyone you have a d.d with of your new account details?

f.d customer services are excellent, my mortgage is with them.