First Direct giveaway

intalex

From my experience, HSBC deliver as good a service as First Direct, and seeing that I switched from HSBC to FD only to bag the £100, I expect to do the reverse in a couple of months' time to bag another £100.

I was originally planning to quote the reason "because you are paying me a £100 incentive to do so" when asked why I was leaving FD, but from the posts above I'm a bit concerned that there may be certain allowable criteria/reasons to qualify for the leaving £100 incentive???

sveika

Do I need a valid reason to leave First Direct? I was actually planning to close the account today.

knightfox

sveika wrote: »

Do I need a valid reason to leave First Direct? I was actually planning to close the account today.

You dont need to give a reason just ask them to close your account.

But I would have thought it would be better just to open a savings account and keep £1 in it. Then you dont pay any charges.

adindas

So I think here is the hack to prevent people get £100 to quite.
Also I believe they have closed the Loophole people getting £100 to quit and later join again to get another £100 by saying:
You could only get £100 switching incentive if you have no banked with FD. Other wise people keep quit-enter-quite enter, and you will get a few hundred quids for a year by doing almost nothing.

ADINDAS

stephane wrote: »

That would not be considered as a valid reason....to get the £100 for leaving them, you need to some arguments that they have provided you with a very poor service...

blueberrypie

sveika wrote: »

Do I need a valid reason to leave First Direct? I was actually planning to close the account today.

You don't need a reason, but if you are hoping to get the payment for leaving, they will want to hear your reasons - which is fair enough, I think.

adindas wrote: »

So I think here is the hack to prevent people get £100 to quite.
Also I believe they have closed the Loophole people getting £100 to quit and later join again to get another £100 by saying:
You could only get £100 switching incentive if you have no banked with FD. Other wise people keep quit-enter-quite enter, and you will get a few hundred quids for a year by doing almost nothing.

As far as I know, this loophole never existed - the joining incentive has always been for new customers only.

sveika

blueberrypie wrote: »

You don't need a reason, but if you are hoping to get the payment for leaving, they will want to hear your reasons - which is fair enough, I think.

Many thanks blueberrypie!

Indeed I'm hoping to get the payment for leaving. Do I need to let them know that I wish to receive the £100 incentive for leaving when I instruct them to close the account? If I don't mention any reason does that mean that I will not receive the £100?

Scrounger

sveika wrote: »

Do I need to let them know that I wish to receive the £100 incentive for leaving when I instruct them to close the account?

Yes (and you will need to give your reason for closing).

sveika wrote: »

If I don't mention any reason does that mean that I will not receive the £100?

Almost certainly, yes.

Scrounger

AnonymousForObviousReason

Just be aware that if you do leave FD they may not accept you back again in future, they seem very picky for a business.

sveika

AnonymousForObviousReason wrote: »

Just be aware that if you do leave FD they may not accept you back again in future, they seem very picky for a business.

Wow, I may need to think again on this then... Thought I could come back at any time in the future:)

Wyndham

As FD are currently making a mess of transferring my DDs, then I think I will be asking for the second £100.... I don't like people getting in touch with me to say bills haven't been paid, and it's happened twice now, so hardly a hassle free switching service.

I'll let you know how I get on!