First Direct Regular Saver 8%

plunt

i was fairly disapointed as i tried to sign up for the esaver account and then add the RS account as some have thankfully mentioned on this forum (not sure if the loophole still works)

anyways i had issue with proving my phone bill as sky doesnt send me paper bills and orange mobile is under parents name! advice? as they said they cant open it without this verification. mind you i love the telephone service they do provide unlike other banks... and can see my self using them for an offset mortgage later on in my life!

(on a side note, and i dont mean to hijack this thread but is there such thing as an offset mortgage which takes into account share/investment you have with the company, as that would be awesome! (though yes i release, very unrealistic)

cheers

plunt

adindas

After a long wait and keep transfering £1500.00 a month, I finally received my £100.00 incentive.

Do I still need to keep transfering £1500.00 or I could stop it now without the need to pay the monhtly fee.

Another Information. I already have every day eSaver.

Your suggestion is appreciated.

ADINDAS

Svenena

If you have money in the eSaver you can stop putting the £1500 in, as that fulfils the requirements to not pay the monthly fee.

How long was it before you got the £100?

nearlyretired2004

If Santander staff are to believed you dont need to have any money in it .....

I opened one at the same time as my first direct current account 3 months ago and haven't been charged any fees yet

adindas

Thank you for your asnwer.
Yes, I have £0.11 in my eSaver, so presumably i do not need to pay £1500.00 monthly anymore, and will not be stunk by the fee, don't I ?.


I opened my 1st direct in November 2011, so after 3 months. I have read in this forum people received their incentive within 1-1.5 months.

ADINDAS

Svenena wrote: »

If you have money in the eSaver you can stop putting the £1500 in, as that fulfils the requirements to not pay the monthly fee.

How long was it before you got the £100?

planteria

if they're offering this in September-time i will have a slice of it. i will be hanging on until then to transfer my Santander c/a across to First Direct.

Nessie23

adindas wrote: »

Thank you for your asnwer.
Yes, I have £0.11 in my eSaver, so presumably i do not need to pay £1500.00 monthly anymore, and will not be stunk by the fee, don't I ?.


I opened my 1st direct in November 2011, so after 3 months. I have read in this forum people received their incentive within 1-1.5 months.

ADINDAS

Hi Adindas,
You shouldn't be charge a fee, however I would leave at least £1 in the eSaver account to be on the safe side.

Nessie

adindas

Thank you Nessie23 for your advise, I will put £1.00 on my eSaver

ADINDAS

Nessie23 wrote: »

Hi Adindas,
You shouldn't be charge a fee, however I would leave at least £1 in the eSaver account to be on the safe side.

Nessie

Cash-Strapped.T32

Quick question please, just to make sure my working out is right.

I've got to park £1800 for a year, do not need instant access, and would rather if possible, avoid setting up any more accounts just for this purpose.
Now, since I maintain a moderate amount in the FD reg-saver I may as well get 8% on this £1800 as well ay?

I'm 4 months in, and my deposits have been as follows;

FD Reg-Saver
1) £25 (initial deposit)
2) £300
3) £300
4) £40

Bal £665


Now, my understanding is that the deposit can start at 300, and increase by 300 p/m up to an overall total deposit of 3600?

So, by month 5, I could deposit 5x300 = £1500.
This does not take my anywhere close to the 3600 limit.

Then, in month 6, I could deposit the remaining £300 out of this 1800, plus whatever my "normal" contribution would have been (sub £100), is this correct?

Or have I missed something?

Many thanks. :cool:

(ps I'm aware I'll have to move it again after 8 months, but this is no hassle, I'll just pick the top rate at the time, which I will have open anyway)

casper_g

Cash-Strapped.T32 wrote: »

I'm 4 months in, and my deposits have been as follows;

FD Reg-Saver
1) £25 (initial deposit)
2) £300
3) £300
4) £40

Bal £665


Now, my understanding is that the deposit can start at 300, and increase by 300 p/m up to an overall total deposit of 3600?

So, by month 5, I could deposit 5x300 = £1500.
This does not take my anywhere close to the 3600 limit.

Then, in month 6, I could deposit the remaining £300 out of this 1800, plus whatever my "normal" contribution would have been (sub £100), is this correct?

Or have I missed something?

Many thanks. :cool:

(ps I'm aware I'll have to move it again after 8 months, but this is no hassle, I'll just pick the top rate at the time, which I will have open anyway)

I don't think you have it quite right. You have to put in at least £25 per month, and the maximum you can have in aat the end of a given month is £300 for each month the account has been open. Don't worry about the £3600 limit in particular: you can't exceed it because you can only have £300 in the account for each month it's been open. After a year this will be 12 x £300 = £3600.

In your example, you can have up to 5 x £300 = £1500 in the account at the end of month 5, so in month 5 you can deposit up to £1500 - £665 = £835.

If you maxed out the account like this in month 5, then you could only pay in £300 in month 6 (not £300 + your "normal contribution") as the maximum balance for month 6 is £1800 and you'd already have £1500 in there.