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First Direct Regular Saver 8%
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Dear Empty pocket
I have not seen in their website clarify about this No 2. The problem with phone confirmation without any writing back up is that to proof what they have said if something goes wrong in the future.
Also for No 3, to get £100 we still need to use their switching service e.g. we need to switch SO and DD from an old a/c from other bank, is not it ?
ADINDASEmpty_pockets wrote: »Just started with 1st and have had a few converstaions with them over this.
1. The £10 banking fee does not apply for the first 6 months.
2. The £10 banking fee does not apply if you hold more than one first product i.e regular saver.
3. The £100 opening bonus is automatically paid up to 28 days after the first deposit of £1500 or greater.
Hope thats of help.0 -
Could anyone who has done with first direct confirm about this, please ?
All I did was transfer in (and straight back out) £1500 each month then sent them a message on month 3 asking for the £100 to be credited. The £100 appeared within 24 hours.0 -
Dear KTF
Could First Direct receive and send FP ? It will be much easier if there si faster payment as our £1500 could move quickly and can be circle to other bank.
ADINDASThe last time they offered the 8% regular saver I also opened a current account for the £100 offer.
All I did was transfer in (and straight back out) £1500 each month then sent them a message on month 3 asking for the £100 to be credited. The £100 appeared within 24 hours.0 -
Dear Empty pocket
I have not seen in their website clarify about this No 2. The problem with phone confirmation without any writing back up is that to proof what they have said if something goes wrong in the future.
Also for No 3, to get £100 we still need to use their switching service e.g. we need to switch SO and DD from an old a/c from other bank, is not it ?
ADINDAS
It's there in black and white.
From the charges and fees leaflet available on their website:-
"Banking Fee Waivers
You will not have to pay the Banking Fee:
for the first six months following account opening;
for any month in which you:
- pay into your account* (other than by internal transfer from another first direct account) a minimum of
£1,500 or you maintain an average monthly balance on your account* in excess of £1,500 (month means
calendar month and we will work out the average monthly balance by adding together the end of day
balances for each day during the month and dividing the sum by the number of days in the month); or
- hold a first direct mortgage, credit card, personal loan, savings account (*excludes Regular Saver
Account and a Regular Saver ISA held for less than 12 months), first directory, or first direct car or
home insurance policy"
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I'm five months into my regular saver.
Closing now would lose me £12.40 at the 5% rate. The new 8% rate would net me £51 before tax. In total, I'd make £31.13 after tax by switching. Of course, I would only finish the deal in 12 months time rather than the currently planned 7 months. All in all, not worth the hassle.
Alternatively, I could close all of my fd accounts and take advantage of their £100 'Satisfaction Guarantee' - except I have been with them for more than 12 months.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
Please note, as per the terms and conditions quoted above, that having a Regular Saver does not avoid the monthly account fee. You would need a Savings account, or an Everyday e-saver, -both of which you only need to keep £1 in and never use the account again if you don't want to. Alternatively, you can take out their credit card instead.0
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Dear KTF
Could First Direct receive and send FP ? It will be much easier if there si faster payment as our £1500 could move quickly and can be circle to other bank.
ADINDAS0 -
Why does this not come up on the top picks for regular savers under specialised alernatives due to the extra conditions?:mad:Mortgage highest Aug 2007 £200,000Mortage now Oct 2014 £143,015Offset savings Oct 2014 £51,7990
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