Do I have to 'switch' for a new account?

indiechickuk

Hi, my partner and I are looking to open a joint account, and I'm tempted by either the Halifax rewards or First Direct accounts, based on the bonus for opening, however as this isn't my only account, I don't want to switch all of my DDs from my existing current account, I just plan to set up a new SO from one to the other and then some new DDs out of the joint account.
The websites seem to imply you have to use the switching service to be eligible for the reward - is this the case, and if so, how can I avoid moving all my current payments? Also, does anyone have a recommendation as to which of the two would be a better choice?

Hope that makes sense!

Thanks
S

Svenena

I'm not sure about Halifax, but for First Direct you don't need to use the switching service to be eligible for the bonus. The only requirement to receive it is that you pay in salary or income of £1500 within the first three months. If you are planning to leave and get the service guarantee payment, you will have had to have used the switching service, but if you're planning to stick with it, this won't be relevant.

ETA: The terms for these bonuses will be clearly set out on the banks' websites, so that might be a good place to start!

indiechickuk

fab, thanks, I thought that was the case but wanted to check!

R34GTT

I've done it for both:

First Direct, no need to switch DDs
Halifax, require you to switch DDs (minimum of 2)

:beer:

rb10

R34GTT wrote: »

Halifax, require you to switch DDs (minimum of 2)

That may be true to get the in-branch £50 bonus for opening an account, but to get the ongoing £5/month, you do not need to switch.

The only requirement for the £5/month is that you have paid in £1k during the previous month.

R34GTT

rb10 wrote: »

That may be true to get the in-branch £50 bonus for opening an account, but to get the ongoing £5/month, you do not need to switch.

The only requirement for the £5/month is that you have paid in £1k during the previous month.

That's right, I was responding to the OP's question which was based on the requirements to receive a bonus.

Svenena

Is there still an in branch bonus if you switch to the Halifax current account? There's no info on their website... is it something you have to ask for?

rb10

Svenena wrote: »

Is there still an in branch bonus if you switch to the Halifax current account? There's no info on their website... is it something you have to ask for?

There's never been any info on the website ... it really depends on your local branch ... they may be offering it; they may not.