First Direct Regular Saver 8%

Rob_192

hpsauce wrote: »

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:

Fair point, I have no idea why it wasn't previously mentioned. We've been doing reg saving with FD for several years and they've always been a dream to deal with - as with all their other services.

simpleguy_blr

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.

Hi,

I spoke to an FD representative this morning just to confirm if I will get the incentive if I simply FP in and out rather than transferring my Salary to them. The answer was I will NOT get the £100 as its intended only for account holders who pay in their salary/income through BACS.

Could some one confirm if this is true or its just a misinformed representative?

Appreciate your help.

KTF

I transferred 1500 in and out via faster payments and still got the incentive. They might have tightened up the rules as this was over a year ago now.

EarthBoy

They do tell people that it needs to be a salary payment, but other people have got the incentive using any old credit of the right amount.

I'm not sure how their computer system would spot the difference, anyway.

CosmicTen

Why not just use it as a current account anyway. They're service is better than any others I've used and you'll get your £100. You can always switch back some time if it doesn't work out.

Regarding the RS 8% (back on topic) I e-mailed them as I'd opened an account a week or so ago. I asked them (before I'd had chance to read this thread) if they would upgrade my account from the 5% to 8% or whether I could open a second RS account for the 8%. They're reply was that my 5% account would remain as such and I can't change it to a 8% account and they said that you can only have one RS account at a time. just to let you know in case anyone else is thinking of asking this. Funnily at no point (via secure messages) did they suggest closing one and opening the new account. I suppose it's not for them to advise this but you'd think they'd make the suggestion. Shame they'd can't just convert it, but then the rules are to loose the 5% rate if you close early which is fair enough.

I've asked them to close the old one so I can open a new one. Responses at the moment seem to be taking 24 hours.

premierfella

EarthBoy wrote: »

They do tell people that it needs to be a salary payment, but other people have got the incentive using any old credit of the right amount.

I'm not sure how their computer system would spot the difference, anyway.

Agree with point 2, but point 1 suggests to me that the £100 payments may be made manually rather than automatically, which would leave the payment open to the bank staff member's view of the credits (obviously I don't know if this is the case or not, but its a possibility).

Empty_pockets

I spoke to them recently and they confirmed the 'system' picks up when the first credit of £1500 or more is made and automatically engages the £100 credit.

She did add this can take up to 28 days.

adindas

What I have been informed as well as few people in this forum has said that it will take about 3 months before you could get the £100 swithcing incentive, as they need to see it for 3 consecutive months.

But 28 days will be better of course just to make sure that we do not have a wrong expectation

ADINDAS

Empty_pockets wrote: »

I spoke to them recently and they confirmed the 'system' picks up when the first credit of £1500 or more is made and automatically engages the £100 credit.

She did add this can take up to 28 days.

Loco

blueberrypie wrote: »

First Direct's t&c currently state (and have said the same for as long as I've been aware of them) that the incentives are only available to those who haven't banked with FD before.

Do you know if this includes E-ISA's? (I opened a FD 1 YR Fixed 3% E-ISA about 6 months ago)

VT82 wrote: »

I still have an old current account open. Could I create a couple of duff direct debits on that account (cheapo magazine subscriptions for example), use their switching service to open a First Direct current account and transfer the DDs from my old current account, and cycle £1,500 into the FD account from savings or my Halifax current account? Would this be a way of getting their £100 introductory bonus and the 8% regular saver?

Would like to know this too

adindas wrote: »

Normally the switching requirement is 1SO and 1DD do not know about First direct. Normally DD could be anything like you say cheapa new paper etc, Credit Card that you do not use it for a long time, etc.

Anyone else happen to get confirmation of the exact switching requirement? 1 DD and 1 SO enough?

Actually I only have SO's but no DD's currently. Would also like to know if I have to have both to qualify. I will have to find some cheap DD subscription if that's the case.

stuart79

This is great news for me. I opened a 5% on 1st Oct to get the naked wines voucher, so only paying the minimum. I do have a £300 dd going to the Santander home buyer which is also a 5% reg saver, but as we are going to cash that in to buy a flat I am in need of a new reg saver, and I think this is it!