First Direct Leaving £100

A_Flock_Of_Sheep

I have a First Direct Account with the £125 switching incentive.

When this is paid I'd like to get the £100 leaving gift as well.

Can someone tell me the process to be eligible for this?

EarthBoy

It's not a gift; it's compensation for being unhappy with their service. If you're not unhappy, then you don't get it.

A_Flock_Of_Sheep

EarthBoy wrote: »

It's not a gift; it's compensation for being unhappy with their service. If you're not unhappy, then you don't get it.

I am quite sure I will be unhappy

So are you saying to get the £100 leaving "compensation" you simply have to be "unhappy"?

izools

You have to have a valid reason and potentially log a complaint which is upheld.

You can't just make something up - something would have to happen that is fully substantiable showing a quantifiable detriment to you.

A_Flock_Of_Sheep

izools wrote: »

You have to have a valid reason and potentially log a complaint which is upheld.

You can't just make something up - something would have to happen that is fully substantiable showing a quantifiable detriment to you.

The website leads me to believe that if you close your account because you are unhappy for any reason they will give you £100:

It says:

How does the service guarantee work?

Here's how it works. We'll pay £100 per customer or joint relationship if you close your 1st Account within 12 months of opening it, as long as a salary or income of £1,500 per month or more has been paid into that account for at least six months and you haven't previously banked with first direct. You'll also need to have used our Easyswitch service, which means we'll have obtained details of your Standing Orders and Direct Debits from your previous bankers and arranged to transfer them for you. We'll pay the £100 into your 1st Account prior to its closure. All accounts with first direct have to be closed and your 1st Account transferred to another bank/building society.


The other criteria is that you do it after 6 months. It says nothing of what reasons are acceptable. I could leave for a number of reasons for example:

(1) Unhappy with the fact there is no face to face branch network having been used to that with my old bank.
(2) Stubs are not available on the chequebook - just an annoying grid at the beginning - but I like stubs. I asked about this with them earlier.
(3) If my income drops I would have to pay £10 a month or take out an additional product I am not interested in.
(4) Poor spectrum of savings products
(5) Uncompetetive credit card if you want to make 0% purchases.

There are probably more.

A_Flock_Of_Sheep

Is there anyone here that has sucessfully claimed the £125 joining gift and also claimed the £100 leaving compensation - and what reasons did you give to leave and be eligible for the £100 to leave?

meer53

A_Flock_Of_Sheep wrote: »

The website leads me to believe that if you close your account because you are unhappy for any reason they will give you £100:

It says:

How does the service guarantee work?

Here's how it works. We'll pay £100 per customer or joint relationship if you close your 1st Account within 12 months of opening it, as long as a salary or income of £1,500 per month or more has been paid into that account for at least six months and you haven't previously banked with first direct. You'll also need to have used our Easyswitch service, which means we'll have obtained details of your Standing Orders and Direct Debits from your previous bankers and arranged to transfer them for you. We'll pay the £100 into your 1st Account prior to its closure. All accounts with first direct have to be closed and your 1st Account transferred to another bank/building society.


The other criteria is that you do it after 6 months. It says nothing of what reasons are acceptable. I could leave for a number of reasons for example:

(1) Unhappy with the fact there is no face to face branch network having been used to that with my old bank.
(2) Stubs are not available on the chequebook - just an annoying grid at the beginning - but I like stubs. I asked about this with them earlier.
(3) If my income drops I would have to pay £10 a month or take out an additional product I am not interested in.
(4) Poor spectrum of savings products
(5) Uncompetetive credit card if you want to make 0% purchases.

There are probably more.

Hmmm - What do you think FD will say ?

You knew it was telephone/internet banking with no branch network when you opened the account, you asked them about cheque books earlier, you already know about the £10 charge and how to avoid it, you don't like their savings products and the poor rates and the uncompetetive CC, it was your choice to open your account knowing all this !

Don't think these will be classed as valid reasons do you ? You say there are more, good luck.

EarthBoy

A_Flock_Of_Sheep wrote: »

.. I could leave for a number of reasons for example:

(1) Unhappy with the fact there is no face to face branch network having been used to that with my old bank.
(2) Stubs are not available on the chequebook - just an annoying grid at the beginning - but I like stubs. I asked about this with them earlier.
(3) If my income drops I would have to pay £10 a month or take out an additional product I am not interested in.
(4) Poor spectrum of savings products
(5) Uncompetetive credit card if you want to make 0% purchases.

There are probably more.

You are unlikely to have any chance of claiming the £100 with any of these reasons. None of them are examples of poor or unsatisfactory service, and you must have known about most of them before you opened an account with First Direct in the first place, i.e. your reasons, 1, 3, 4 and 5.

As for reason 2, well First Direct certainly do provide chequebooks with stubs, because I've got them. All of my FD cheques have always had stubs on. You only need to ask for them.

A_Flock_Of_Sheep

Well I will chance my arm in telling them I am not happy. If they pay out then all well and good. If not I have still made £125 when I dump them simply for joining them.

It is OK saying one knew about no branch network or face to face service. That is true, I did know that BUT - how am I to know I will actually be satisfied and happy with that aspect until I actually try it.

I know that chocolate tastes of chocolate but all chocolates are different and some I prefer to others.

Perhaps you can find me a link to their "leaving" criteria and what they consider is or isn't a valid reason as I fail to find any lists or small print terms on this on their website.

What I do read is this:

"We're so sure you're going to enjoy banking with first direct and using your new 1st Account that we can make this simple promise. If you're not happy with our service after six months, we'll help you move banks and give you £100 for any inconvenience."

I don't see why not having a face to face service does not fall under the "happy" statement regardless of whether I knew or not. How can I be happy or unhappy if I don't experience it?

I would have thought that being MSE and about saving and making dosh people would be very keen to expoit these "offers".

A_Flock_Of_Sheep

EarthBoy wrote: »

All of my FD cheques have always had stubs on. You only need to ask for them.

The representative I spoke to this morning said they didn't offer stubs.

So either they are fibbing or you. If it is them then I am certainly not "happy".

apt

A_Flock_Of_Sheep wrote: »

What I do read is this:

"We're so sure you're going to enjoy banking with first direct and using your new 1st Account that we can make this simple promise. If you're not happy with our service after six months, we'll help you move banks and give you £100 for any inconvenience."



You should read to the end of the sentence which says (subject to conditions). You need to find an apparently genuine reason which is linked to the First Direct service guarantee. If you are mainly interested in making money the smarter thing to do is to maximise use of the 8% regular saver and the £250 interest free overdraft. That will earn you more than a one-off payment of £100 in the medium and long term.