TSB 5% -v- FD 8% > application hassle

Nessie23

K_P83 wrote: »

any takers on the above?

mmm there seems to be some contradictory information on the FD website
on one page it says

to qualify you need to transfer your salary/income of at least £1,500 per month within three months through our Easyswitch service http://www2.firstdirect.com/1/2/banking;jsessionid=0000S03_QkSyoZXcfblT2zIUcbC:11jk8o4v4?cle

However on another part of the website they state

*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. This offer is only available for people who haven't previously experienced the delights of banking with first direct and is limited to one payment per joint relationship. http://www2.firstdirect.com/1/2/banking/1st-account/overview

One mentions Easyswitch and the other doesn't. So I am confussed to say the least :huh:

Hence if you want to make absolutely sure you get the bonus you could set up the SO and a direct debit in the Nationwide account. The dd can well be for small amounts or for a direct debit which is not regularly used. I tend to move my BT dd as it is quite easy to move if you have registered online with them.

As far as I can see you do not have to transfer your salary all you have to do is fund the account with the £1,500 per month.

Nessie

Nine_Lives

I would've thought though that they couldn't transfer your salary? I'd have thought that would have to be done via your payroll manager?

I'll give it a go.

cautiousjon

As for whether you can set up the bogus SO, I honestly don't know. I was happy to transfer my SO and DDs so I just let them do it. You could always call them. The person I spoke to yesterday was happy to tell me how to get a RS account knowing that I might have used another bank for my everyday banking.

Nine_Lives

My FD papers came through today, so that'll be them sent off tomorrow.



Another Question:

When is the account opened (this applies to both FD & TSB) i.e. when does the "12months" begin?

Is it when the first deposit is made, or otherwise?

Cash-Strapped.T32

I would imagine from date of opening mate.
Was busy today, so didn't get a chance to call FD to take the EasySwitch option & open the Reg-Saver.

Since the account only opened on Sat & I still don't have the confirmation letter I would imagine that option is still open to me.. :rotfl:


Will ring them up to open it tomorrow & I'll try & remember to ask; But last time I opened a savings-account with a bank I already hold a current account with (HSBC) I did it all on-line, and when I finished the account was there in IB, ready to use..

I would imagine that in a similar fashion, FD will let us set the account up in a single "session" over the phone after passing security & thus the day you ring would be the day of opening & any time limits would run from this date..

I'm hoping the back & forth with papers is only for when you open that first account with a particular bank, because that's where ambiguities in dates creep in.

Or maybe they're really cool & just call it till the end of the calendar month you opened the account? [/optimistic voice]

cautiousjon

It's 12 months from opening the account. You need to give FD an amount between £25 and £300 when you set up the account (which must come from your FD current account) and that is your first payment into the RS.

Empty_pockets

See my other fd thread for details but I can confirm you do not need to use the 'Easyswitch' to get the £100 joining bonus.

The confirmation letter is pasted in my other thread.

Nine_Lives

Regarding the opening of another account to avoid the £10 fee:

I've just twigged it wasn't the everyday saver account i selected to open.

I selected to open the "everyday E-saver account"

Is this still a qualifying account (meaning i dno't have to pay the £10 fee) or do i have to open up an everyday saver account instead?

Baldur

K_P83 wrote: »

I selected to open the "everyday E-saver account"

Is this still a qualifying account (meaning i dno't have to pay the £10 fee) or do i have to open up an everyday saver account instead?

See http://www2.firstdirect.com/1/PA_1_1_S5/content/content_static/pdf/rates_charges.pdf;jsessionid=0000eGuNe0f8ezr3aZGv6fyG50m:11qkrclbj

Banking Fee Waivers ..... 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)

Nine_Lives

Your link says HTTP 404 not found.

From your quote though, i'm on the understanding that the everyday E-saver account (with £1 in) would mean that i DON'T have to pay the £10 monthly fee.

Am i correct?