First Direct Queries

minipenny_2

Apologies if these have been asked before I did a few searches but couldn't see anything so ill ask anyway. I'm thinking of setting up a bank account with 1st direct for the incentive

* it says pay in 1500 per month does this has to be in one go or can I pay like 1400 then 100 does this have to go in every month or just once??
*do you have to move DD's to them?
*how long does it take to move money between them and halifax?

Thanks in advance if anyone can help with any of these queries :cool:

sjw3915

I moved for the incentive. The only bit i can confirm is that you do need to transfer direct debits to them by using their account switching service. I have posted about this elsewhere but make sure you ask for a formal overdraft facility if you sometimes go overdrawn as they charge you 25 pounds per transaction if you go overdrawn by a penny (even new customers who have a "completely free interest free 250 pounds overdraft") This is interst free and not fees free. Confusing i know! They do charge a 25 pounds arrangement fee for setting up a formal overdraft facility (which they will usually waive because they want your custom)

adamc260

Just open a savings account with them (Excluding regular saver) and you waiver the monthly fee or having to put in £1500 a month... Wack £1 in it and job done.

First Direct are a fantastic bank.

skintdad

does anyone know if they are sympathetic towards old adverse data?

macman2011

skintdad wrote: »

does anyone know if they are sympathetic towards old adverse data?

I would say they are the total opposite, very un-sympathetic!!

Fantastic bank though.

heloid

FirstDirect have faster payments, transfers to Halifax take about 1 minute each way.
You can transfer in £750, withdraw it and put it back in again to satisfy the £1500 requirement for the joining bonus.

steve1980

As long as there is £1500 going into the account each month then you will qualify for the "free" banking.

Awesome bank.

Gromitt

steve1980 wrote: »

As long as there is £1500 going into the account each month then you will qualify for the "free" banking.

Or use an alternative product, like an instant access savings account, which will do exactly the same job. Then you can just put in the £300 for the regular saver and still get free banking.

Nine_Lives

minipenny wrote: »

Apologies if these have been asked before

It has. Apology accepted.

I did a few searches but couldn't see anything

Really? REALLY? I've just done a search too. Searched "First Direct" in this forum.
Within about 3 minutes i found 3 threads:
https://forums.moneysavingexpert.com/discussion/3728977
https://forums.moneysavingexpert.com/discussion/3580959
https://forums.moneysavingexpert.com/discussion/3721913

Which along with First Direct's T&C's, answer all bar one of your questions i think - which would be the "how long" question.