First Direct Regular Saver 8%

johnmoney05

Just a quick reminder. I called to close my 2 months old regular saving account yesterday. It was gone now. And I just opened the new 8% one online. So, you guys might want to check it up.

uzubairu

Twopints wrote: »

Re this bit:

I have joint current accounts and a sole (empty!) savings account - do you think I will qualify?

We have a Joint 1st account and I thought that too, which is why I didn't bother with opening one in August.
I phoned up and was told that the Regular Saver has to be a sole account.

I opened mine over the phone in 5 minutes and hopefully I can get OH to open one in January.

Funkyfreddy

adindas wrote: »

[..]
4. I will do in and out FP transfer every month from my another a/c in other bank in the sum of £1500 and back in the same day to the origin a/c until I get £100 incentive and then I will stop it.
[..]

It doesn't seem clear to me - nor can I see anything definative one way or another that to gain the £100 incentive the £1,500 has to be by means of Salary/Income as against funding from an outside account.

"Open a 1st Account and transfer your monthly salary/income of at least £1,500 within three months and we will add £100 to your account....."

Do they actually mean you have to move your Salary payments to them ?

To avoid the £10 monthly charge then it does state this is waived:

"when you pay in at least £1,500 or maintain an average monthly 1st Account balance of £1,500, or hold a selected first direct additional product"

What qualifies as a "selected additonal product" doesn't seem to be detailed either !


FF

exel1966

Funkyfreddy wrote: »

Do they actually mean you have to move your Salary payments to them ?

What qualifies as a "selected additonal product" doesn't seem to be detailed either !


FF

No, you don't need to pay in a salary, your £1500pm can come from any external source.

Products include a mortgage, e-saver, bond + a couple more I can't think of right now, but not a regular saver.

EDIT ;

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; or
account, your joint account will not be considered to be in the same name as your sole account. If you hold
more joint accounts, those accounts will not be considered to be in the same name unless all joint account
holders are the same); or

adindas

1. Not necesseraly from your salary, it could from any source as long as from outside FD. Some people just do FPS from other bank a/c and as soon as booked in th FD transfer transfer it back to the origin.

2. A lot of people here are asuugestin eSaver in which you could just put it £1.00 to maintain that product.

ADINDAS

Funkyfreddy wrote: »

It doesn't seem clear to me - nor can I see anything definative one way or another that to gain the £100 incentive the £1,500 has to be by means of Salary/Income as against funding from an outside account.

"Open a 1st Account and transfer your monthly salary/income of at least £1,500 within three months and we will add £100 to your account....."

1. Do they actually mean you have to move your Salary payments to them ?

To avoid the £10 monthly charge then it does state this is waived:

"when you pay in at least £1,500 or maintain an average monthly 1st Account balance of £1,500, or hold a selected first direct additional product"

2. What qualifies as a "selected additonal product" doesn't seem to be detailed either !


FF

adindas

THnk you for all your info. I managed to open 1st a/c today over the phone. paper work on the way to my address.

As soon as it is officially open, I will open the 8% RSA

ADINDAS

Funkyfreddy

exel1966 wrote: »

No, you don't need to pay in a salary, your £1500pm can come from any external source.

Thanks.

exel1966 wrote: »

Products include a mortgage, e-saver, bond + a couple more I can't think of right now, but not a regular saver.

EDIT ;
[..]

Yep, thanks. Found that in the T&C documents after my post - they don't make it easy to find !

FF

Funkyfreddy

adindas wrote: »

1. Not necesseraly from your salary, it could from any source as long as from outside FD. Some people just do FPS from other bank a/c and as soon as booked in th FD transfer transfer it back to the origin.
[..]

Thanks.

FF

exel1966

Funkyfreddy wrote: »

Thanks.



Yep, thanks. Found that in the T&C documents after my post - they don't make it easy to find !

FF

But if we were both on the ball we would have noted it in post 37

hpsauce_2

Rob_192 wrote: »

Because FD only anounced it yesterday!! Give the MSE guys a chance.

I only asked as it has been at 5% for ages before and that wasn't listed on the top picks either although it was higher than all the others at 4%, just wondered if I was missing something either about the product or about FirstDirect?

I didn't mean it as a criticism just thought I had missed something :silenced: