First Direct Regular Saver 8%

adindas

Dear johnmoney05 and All

I just notice it is written as follows:

"How to make payments
- First payment From your 1st Account on the day you open your account.

- Regular payments By standing order from your 1st Account on the monthly anniversary of account opening (or next working day if your payment date falls on a weekend or bank holiday)."

Am I correct to say that if my a/c was opened on November 17, the SO will be taken from my 1st a/c on 17 or 18 each month ?

This is actually quite new as normally people will try to change the SO date to the 1st day of the month on the second and the rest of installments to maximize the interest. But It seems they are already aware about this.

Thank you again for point me out the right direction.

ADINDAS

johnmoney05 wrote: »

You can't change the date. It will go from your 1st direct account every month.

Cash-Strapped.T32

I waited until today to open mine for just that reason

soulsaver

"How to make payments
- First payment From your 1st Account on the day you open your account.

Means 1st day you open your RS account, not your current account.

soulsaver

adindas wrote: »

Dear johnmoney05 and All

I just notice it is written as follows:

"How to make payments
- First payment From your 1st Account on the day you open your account.

- Regular payments By standing order from your 1st Account on the monthly anniversary of account opening (or next working day if your payment date falls on a weekend or bank holiday)."

Am I correct to say that if my a/c was opened on November 17, the SO will be taken from my 1st a/c on 17 or 18 each month ?

ADINDAS

Means 1st day you open your RS account, not your current account.
If you're not happy with the date you elected for during the application phone them up and ask if you can change it. I believe you can over the phone. Be ready to answer their security questions starting with your postcode, surname with initial etc.

KTF

The date of the transfer is the same date that the account was opened. It cannot be changed.

The payment is made by standing order from the FD account.

johnmoney05

soulsaver wrote: »

Means 1st day you open your RS account, not your current account.
If you're not happy with the date you elected for during the application phone them up and ask if you can change it. I believe you can over the phone. Be ready to answer their security questions starting with your postcode, surname with initial etc.

Your belief was wrong. You can't change it. You can close it and re-open it again.

EarthBoy

adindas wrote: »

This is actually quite new as normally people will try to change the SO date to the 1st day of the month on the second and the rest of installments to maximize the interest.

It isn't new for First Direct. All the regular saver accounts I have had with them for the last four or five years have been run this way. It's not possible to change the monthly payment date. You can only change the amount.

lingwood

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?

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?

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

soulsaver

johnmoney05 wrote: »

Your belief was wrong. You can't change it. You can close it and re-open it again.

Yep but still good advice - they tell you can close it and open another (at the moment) when you phone.

adindas

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