First Direct Regular Saver 8%

blueberrypie

adindas wrote: »

I open my early November last month. Since then I have paid £1500 monthly. I also have eSaver to avoid the £10.00 fee.

I just check my FD a/c I have not got £100.00 incentive.
Anyone could provide info When should I get the £100.00 ?

Thank You
ADINDAS

I know someone who received the joining incentive on 16th November. That could be due to their first deposit of £1500 on 25th October, or it could be due to a first deposit (minimal amount) made on 18th October, or just because joining incentives are generally paid in the middle of the month. If you paid in £1500 for the first time in November, I'd expect to see the joining incentive by the middle of December. If you don't get it by then, give them a call and ask - unlike with most banks, calling them is a painless process ;-)

Empty_pockets

It took 15 days for be, though I did hassle them a bit.

They advised it should take no longer than 28 days after the first £1500 credit is made. It's an automated system.

Nessie23

Hi lingwood, here go a few answers

lingwood wrote: »

I have just opend a FD account and plan to open the regular8% one.

As I understand it, I do not need to switch bank accounts or have my salry paid in, as long as I pay in £1500 a month within the first three months for a minimum of six consecutive months?

Correct (but see notes below too)

lingwood wrote: »

I would then move £300 into the reular saving account, can I then also move the remaining £1200 back to my main bank?
By doing this does it also get me out of the £10 charge?

Yes, as long as you pay in the minimum £1500 per month you can then transfer the money to another account.
However you can also avoid the £10 fee by simply opening a savings account and placing say £1 in one of their qualifying savings accounts.

From First Direct website http://www2.firstdirect.com/1/2/rates/charges
Banking Fee Waivers

You will not have to pay the Banking Fee:
[if you] hold a first direct mortgage, credit card, personal loan, savings account (*excludes Regular Saver Account and Fixed Rate Saver), first directory, or first direct car or home insurance policy;

NB - If you are trying to get their joining incentive you will still have to pay in the £1500 for the first three months!

lingwood wrote: »

I am also opening the Halifax account and plan to move the same money first into the Halifax then do the above with FD.
Thanks

I have found that Halifax's faster payment system is more unrealiable than FD's. Halifax sometimes will only allow you to send payments by BACS. So if you still need to transfer money you might want to place the money into FD first and then send to Halifax.
Then again if you use the bank waiving fee 'strategy' you will have to move less money around.

Nessie

lingwood

Nessie23 wrote: »

NB - If you are trying to get their joining incentive you will still have to pay in the £1500 for the first three months!

Thanks for clarifying, so I also need to open the esaver. Will sort that when I get the main account info.

Just to clarify the above for the joining incentive, as long as I pay in the £1500, (£300 to RS) and then £1200 back to main bank for 3 months I get the £100?

Thanks

Nessie23

lingwood wrote: »

Thanks for clarifying, so I also need to open the esaver. Will sort that when I get the main account info.

Just to clarify the above for the joining incentive, as long as I pay in the £1500, (£300 to RS) and then £1200 back to main bank for 3 months I get the £100?

Thanks

Yes, that appears to be the case, as long as you pay in the £1500 for three months you should get the joining incentive.

See post 30 of this thread http://forums.moneysavingexpert.com/showpost.php?p=38061400&postcount=30

If in doubt you could always give them a quick call, their advisers are normally good and helpful.

King_Weasel

Anyone thinking of grabbing this 8% offer shouldn't delay too long. FD told over the phone that the offer may be withdrawn after 22 December.

Loco

on the application form it states employers details and how long you have worked there for...but the only options in the drop down box are 1 year/2years/3years etc.

what if you`ve worked less than a year? In my case 2 months!

reelaroundthefountain

I am interested in opening the regular saver account, however do not have a first direct current account yet. Should i apply for a current account could anyone tell me if i am required to close the current account i use at the moment, and if not, does that mean i can

a) still open the regular saver account

and

b) remain eligible for the £100 bonus on opening the current account?

reelaroundthefountain

I have just re-read the thread, and i apologise, there are a few posts that mention you don't have to transfer accounts.

adindas

Dear blueberrypie

Thank you very much for your reply and answer.
I understand now. I will then wait until Mid December.

ADINDAS

blueberrypie wrote: »

I know someone who received the joining incentive on 16th November. That could be due to their first deposit of £1500 on 25th October, or it could be due to a first deposit (minimal amount) made on 18th October, or just because joining incentives are generally paid in the middle of the month. If you paid in £1500 for the first time in November, I'd expect to see the joining incentive by the middle of December. If you don't get it by then, give them a call and ask - unlike with most banks, calling them is a painless process ;-)