First Direct

Dazzarazza

Hi all

Has anyone had any experience with these guys?

Ive been with Natwest for about 15 years but thinking of a change.

The only issue I see at the moment is I ahve managed to accrue a £2.5k overdraft with Natwest so not sure what the situation would be there ie if I choose to transfer my account over from them to First Direct what would happen with the Natwest OD if I'd even get that far with an application?

Cheers!

heloid

From the front page poll:
G. First Direct - Great 193 votes
H. First Direct - OK 17 votes
I. First Direct - Poor 15 votes

As for the Natwest overdraft, as long as you keep funding it and don't leave it dormant they won't take it from you.
First Direct, no idea how much of an overdraft they will give you, I've always kept within the free £250.

Dazzarazza

Thanks i applied and got an email back...

"Re: Your first direct 1st Account application.

Thank you for your recent request to join first direct.

Full details about a first direct 1st Account, along with an application form containing the information you have provided, are now on their way to you. When you receive your application, please check that the information it contains is correct, then sign and return it to us as soon as possible so we can complete our final checks."

Other checks aside does this mean I am more or less accepted, if I wasn't would they not just say so?

heloid

They don't accept/decline until they receive the forms back from you and do a credit check. Didn't take more than a week for me once posting it.

R34GTT

heloid wrote: »

They don't accept/decline until they receive the forms back from you and do a credit check. Didn't take more than a week for me once posting it.

Just to add my experience so far on this, I applied to First Direct and they checked my credit report immediately. It reported as a current account on my Experian credit report. I also received a nearly identical email the same evening so just waiting on the forms to sign.

Stuckon100forever

This is strange, my other half applied on Saturday and got an on screen message at the end saying something like "Thanks, we now need to complete our final checks and will be in touch" only they have Not sent any email yet!

Is it likely that she has been declined?

Cheesedoodles

I applied a couple of weeks ago.

I applied on the 11th august. Received the below mail on the 12th August. Similar to your but the final line was "they'd be happy to open an account pending final checks! I have access to my live credit report and they did only 1 credit check, on the 11th august. Presumably, the approved me automatically.

Re: Your first direct 1st Account application.

Thank you for your recent request to join first direct.

Full details about a first direct 1st Account, along with an application form containing the information you have provided, are now on their way to you. When you receive your application, please check that the information it contains is correct, then sign and return it to us.

Subject to our final checks, we will be happy to open your 1st Account for you as soon as we receive the signed application form.

If you have any queries regarding your application, please contact us on 0800 24 24 24.

I received the application forms the 14th august(prefilled in) which i returned the same day. Thursday 19th I got my debit card and a couple of days later the pin number.

My account is now up and running and it all went smooothly....

Now let's see if they can manage to get all the direct debit details and standing orders from A&L (now santander!!)

I'm a happy bunny with First Direct...so far

jozshi

Ah, that's interesting... I tried applying last week (poss Thurs) and had the same experience as stuckon100forever, i.e. still no news?! I was actually coming on here to see if I could find out whether to expect email or postal mail from them and how long this might take.

Hoping no news is good news :undecided

reall

Great

The 2.5 k that you owe natwest might not necessarily be taken by first direct and first direct usually start you with a low figure then work it up obviously they will look at your credit rating i.e risk and benefits to them as long as you do not have ccj etc .You have a shot.
I would advise to find an account where you can live within your means so that you are able to start to pay back the natwest if first direct reject.You will hear from them well within two weeks.I suggest starting with a fresh approach and tackling your situation head on.you may have to contact natwest and not bank with them for your expenditure i.e rent/mortgage,bills etc and transfer directdebits/standing orders to a new account. I wuld move them over slowly so that you will know when things are paid or if not to do it over the counter for the first month.avoids fees for non payment etc. first direct are good once everything is set up and you can keep a close eye.
hope this gives food for thought

Rich1976

Cheesedoodles wrote: »

.





Now let's see if they can manage to get all the direct debit details and standing orders from A&L (now santander!!)

I'm a happy bunny with First Direct...so far

If I were you I would keep a very close eye on the process as I had no end of problems - all down to first direct I may add.

They send you a list of direct debits and tell you the date that they will tell your old bank to cancel all direct debits off their system. This date is about 2 and half weeks later.

A week befiore the transfer date they will instruct all your companies to chnage their records. Trouble is if the transfer date coincides with when direct debits are due to be taken and companies have already applied to your old bank for payment then they won't be able to collect it.

This happened to me with my credit card. The card company had applied to my old bank but my old bank had already cancelled the DD. This meant I was stung with late payment fees, interest and a returned direct debit fee. I did get all this refunded but first direct wouldn't take any responsibility and neither would the credit card company as they were saying that first direct didn't give them enough time to change their records.

So beware - especially if you have a mortgage, crdit card or any other dd's due to go out within a day or so of the transfer date as you may have the same problem.

Why first direct only given DD originators a week's notice is beyond me as some companies process their BACS runs 10 days in advance of the due date.

Good Luck!

Cheesedoodles

Rich1976 wrote: »

If I were you I would keep a very close eye on the process as I had no end of problems - all down to first direct I may add.

They send you a list of direct debits and tell you the date that they will tell your old bank to cancel all direct debits off their system. This date is about 2 and half weeks later.

A week befiore the transfer date they will instruct all your companies to chnage their records. Trouble is if the transfer date coincides with when direct debits are due to be taken and companies have already applied to your old bank for payment then they won't be able to collect it.

This happened to me with my credit card. The card company had applied to my old bank but my old bank had already cancelled the DD. This meant I was stung with late payment fees, interest and a returned direct debit fee. I did get all this refunded but first direct wouldn't take any responsibility and neither would the credit card company as they were saying that first direct didn't give them enough time to change their records.

So beware - especially if you have a mortgage, crdit card or any other dd's due to go out within a day or so of the transfer date as you may have the same problem.

Why first direct only given DD originators a week's notice is beyond me as some companies process their BACS runs 10 days in advance of the due date.

Good Luck!

I'm no fan of these switching services...I'm only using it since it's a criteria for getting the £100. I've already switched most of the direct debits away already (to my Barcalys account where I have a mortgage). As soon as A&L cocked up my account during the transition (still no access to my money) I transferred most of the DDs to Barclays. Only a couple of non important ones left and it doesn't matter if they mess those up