Switching to First Direct

Probi

Hi,

I know I have seen this posted somewhere before but can't find the post anywhere!

When switching to First Direct do you get the £100 bonus as soon as you pay in the first £1500 or do you have to pay it in for a couple of months first?

Also is it just an online saver you need to open so you don't get charged for the account?

Thanks

samwsmith1

I got my £100 a couple of days after paying the £1500 in, and yes, you only need an esaver with £1 in.

VitcH_3

I got it about 3-4 weeks after paying it in.

If I remember correctly, their terms state they pay it within 90 days of account opening provided the conditions are met, but this is going a while back.

Best just call them and ask. There's no waiting or pressing 1 for this, 2 for that...always a human being answering within seconds

Probi

Thanks both.

I've just applied for the account but nowhere did it say about switching? Do i need to switch or do i just need to pay in the £1500? I'm going to be looking at using this as my bills account anyway after all the good feedback i've heard about first direct.

samwsmith1

You just need to pay in £1500 .

alanq

Probi wrote: »

Do i need to switch ..?

Not to qualify for £100 for joining. However, unless you switch, you will not qualify for £100 on leaving if dissatisfied.

coldcazzie

Probi wrote: »

Also is it just an online saver you need to open so you don't get charged for the account?

samwsmith1 wrote: »

and yes, you only need an esaver with £1 in.

erm... where does it say this? I've been planning to switch to this in a couple of months, but I've not read anything about having to have a savings account with them to avoid the charge... only that you need to make the minimum £1500 monthly payments... :undecided

(for the record, I was planning on opening one of their fixed rate savers, would this qualify as sufficient?)

alanq

"Is there a charge to bank with first direct?

Banking with first direct usually costs £10 a month, but you will not be charged this fee when you pay in at least £1,500 to your 1st Account each month, or maintain an average monthly 1st Account balance of £1,500, or hold a selected first direct additional product."
http://www1.firstdirect.com/1/2/banking/1st-account/overview

Selected products are:
"first direct mortgage, credit card, personal loan, savings account (*excludes Regular Saver Account and Fixed Rate Saver), first directory, or first direct car or home insurance policy"
http://www1.firstdirect.com/1/2/rates/charges