first direct 8% RS

jennifernil

Planning to open this, but would prefer to start it early next month. Is there a chance it could be withdrawn before then?

Does the opening date set the date you have to pay in each month?

And does it only allow one payment in per month?

When opened will they automatically transfer the first payment from my 1st Account? Or do I need to do it myself?

TIA for any help.

qpop

1) They won't tell you either way until they withdraw it. It's been open a while but is also their headline savings rate
2) Yes
3) Yes (Well, you can transfer money to it at other times but will earn £0 interest. The limit is a "max" per month. So if you put £50 first month, in month 2 the "max" would be £600, and you could pay in (and earn interest on) the other £550)
4) Yes

jennifernil

Supplementary question......

Do FD make internal standing orders 365 days a year (weekends BHs etc), or is it only on "working days" like Lloyds seem to do?

blue_eyes

if it's about the Regular Saver,
my RS standing order is set for the 10th, but is listed as leaving my 1st account and arriving into the RS account on the 12th in september when 10th was a saturday.

qpop

jennifernil wrote: »

Supplementary question......

Do FD make internal standing orders 365 days a year (weekends BHs etc), or is it only on "working days" like Lloyds seem to do?

All Standing Orders are weekdays only, even internal ones.

jennifernil

Thanks to you both. As a new FD customer I am having a few problems with internet banking as apparently I am NOT a new customer after all.

Several years back we had a joint current account with them that OH used for his travel expenses, I never used it at all. It was closed when they introduced a minimum funding requirement, but it seems they filed the security stuff in their "basement" and have dredged it up again. I, of course, after all these years, have absolutely no idea what my memorable whatevers were!

So now I have a 1st Account that they have somehow managed to register under the original security details, and an e-Saver that is under the new details. I can see the latter when I log on, but not the 1st Account. Apparently it could take 5 days to sort it.

I was going to delay opening the RS till next month, but would be kicking myself if they withdrew it before then.
We get a pension payment around the 23rd of the month, so that would be available to use, so I might as well open it now. I have sent the money to my 1st Account, but cannot see if the FP has arrived.

Can I open the RS by telephone? When I look at how to apply it just says to log on to do it.

blue_eyes

sounds a bit of a nightmare.
I've found this on the website -
from savings->regular saver-> faq:
===============
How do I open a Regular Saver?
You must already have a 1st Account with us from which your regular monthly payments can be made into your Regular Saver Account.

If you're already a first direct customer you can log on to Internet Banking and apply online. Alternatively, you can call us on 08 456 100 100. If you're not yet a first direct customer then you must first apply for and open a 1st Account by calling us on 0800 24 24 24 before you can open a Regular Saver Account.

You must open your Regular Saver with an initial deposit on the day of account opening of between £25 and £300 (in multiples of £5) by direct transfer from your 1st Account.
===============

so yes you can phone, but it would be opened straight away with the standing order out of the 1st account.

also, if you don't like to use 0845 numbers (e.g.on mobile) use
0113 276 6166 which is their leeds (i think) direct number.

all the best

jennifernil

Thanks for your help, I didn't see the FAQs, still finding my way around the website!

The £300 I sent went by FP, so they should have it by now, and 0845s are free on BT evenings, so I will ring them now.