We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Switching from RBS to First Direct?
LydiaJ
Posts: 8,083 Forumite
I've been with RBS all my adult life, but don't think much of Santandur so am now considering where to move to. The easy option would be NatWest, but I'm also considering FD - I fancy the incentive for switching, everybody seems to rave about their customer service, and the 8% regular saver would be useful.
However, I'm wary of switching without knowing more about the details. I'm thinking particularly of my disastrous experience of getting an iPhone last year. Loads of satisfied users told me I'd love it, but when I got it, it wouldn't do the things I wanted it to. I'd contact my iphone-using friends and say "How do I make it do xyz?" (referring to things my previous basic Nokias has always done), and they'd say "Oh, it can't do that. Why do you want to do that? I've never wanted to." So I'm afraid the same kind of thing might happen if I switch bank accounts.
I'm also thinking about my Tesco savings account, and what a huge deterioration I felt there was in the online banking facility when they switched from RBS to HSBC (I think) providing their system, which makes me wary. If I make payments from the account, it now won't tell me whom the payment has gone to, which it always used to do on the RBS system - idiotic. Not too worrying for a savings account, of course, but I really wouldn't want that for my main current account.
The trouble is, I don't know what questions to ask. It would never have occurred to me to ask whether you can see online where your online payments have gone to - I'd have no reason to guess that any bank wouldn't show that information.
So what I really want is somebody who's got experience of RBS online banking, and has switched to FD. If any such person is reading this, please could you let me know whether there are things you used to be able to do with RBS and now can't do with FD online banking? I'm particularly interested in faster payments, and in being able to get at all the information I could possibly want about all my accounts. (Is it really true what I read somewhere online that with FD once you've set up a payee you can't delete them or edit them? Really??)
Sorry for rambling.
But any info would be much appreciated. Thanks.
However, I'm wary of switching without knowing more about the details. I'm thinking particularly of my disastrous experience of getting an iPhone last year. Loads of satisfied users told me I'd love it, but when I got it, it wouldn't do the things I wanted it to. I'd contact my iphone-using friends and say "How do I make it do xyz?" (referring to things my previous basic Nokias has always done), and they'd say "Oh, it can't do that. Why do you want to do that? I've never wanted to." So I'm afraid the same kind of thing might happen if I switch bank accounts.
I'm also thinking about my Tesco savings account, and what a huge deterioration I felt there was in the online banking facility when they switched from RBS to HSBC (I think) providing their system, which makes me wary. If I make payments from the account, it now won't tell me whom the payment has gone to, which it always used to do on the RBS system - idiotic. Not too worrying for a savings account, of course, but I really wouldn't want that for my main current account.
The trouble is, I don't know what questions to ask. It would never have occurred to me to ask whether you can see online where your online payments have gone to - I'd have no reason to guess that any bank wouldn't show that information.
So what I really want is somebody who's got experience of RBS online banking, and has switched to FD. If any such person is reading this, please could you let me know whether there are things you used to be able to do with RBS and now can't do with FD online banking? I'm particularly interested in faster payments, and in being able to get at all the information I could possibly want about all my accounts. (Is it really true what I read somewhere online that with FD once you've set up a payee you can't delete them or edit them? Really??)
Sorry for rambling.
But any info would be much appreciated. Thanks. Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.
0
Comments
-
You can certainly send and recieve faster payments with first direct.0
-
First and foremost First Direct is a 'telephone' bank and its brilliant at that...phone is answered within a few rings by a real person and you can do just about everything over the phone...i once even closed my FD current account over the phone (was fed up with overseas debit card charges at the time) but i opened a new current account with them a few months ago.
Having used other banks online banking systems, FD's internet banking is quite poor. For example you cannot even delete old payees online (you have to call them up and they mark the payee with "DO NOT USE"). Their layout hasn't changed much since i first used their online banking in 1999 and could be a lot lot better. Also they don't allow you to see pending payments online...you either have to call them or go into a HSBC branch (yet HSBCs online banking allows you to see pending payments). Also when you click on 'log off' on their internet banking it always asks you to click again to confirm...very annoying!
On the plus side, you don't need a card reader/secure key to logon to your internet banking...though i suspect they will introduce them one day. They also have a dedicated iphone banking app which is brilliant (only lets you pay existing payees). They answer secure messages the same day. When abroad you can reverse charges to their 0113 2345678 number.
Hope this helps! 0 -
@ LydiaJ
No need to go with santander... just transfer your RBS English account to a scotish branch that's what i've done.
they will give you a scotish sort code transfer all your direct debits :-)• HSBC (Main A/C)
• Halifax Back up A/C
• Lloyds (Spending) A/C
• RBS Back up A/C
• Barclays Old A/C
• Nationwide Old A/C0 -
I have been with First Direct for 6 months. Other than when opening my accounts I have had no need to contact them by phone as I have had no issues. Online banking has done everything I wanted to do so far. However, I agree with others that the online banking interface compares poorly with those of NatWest & Nationwide
Demonstrations:.
http://www1.firstdirect.com/1/2/ourservices/internet-banking/demo/intro
http://www.natwest.com/microsites/commercial/bankline_demo/Flashindex.html
http://www.nationwide.co.uk/internetbanking/whatyoucando.htm
First Direct say that they are working on a facility to delete payees but give no timescale for a change. Payees are said to be automatically removed if not used for 13 months.
Apart form First Direct, Nationwide and Co-op consistently come out better than most in customer satisfaction surveys. Yet I have had bad experiences with both of them so no matter how good a bank is you may be the unlucky one. (Similarly Santander are consistently bad in surveys yet they have some customers who never experienced any issues).
If you are happy with RBS the low risk option would be to transfer to another branch or failing that to NatWest.
I have read unconfirmed reports that First Direct plans to introduce some sort of security device during the first half of 2012. If they do, let's hope it is not a repeat of HSBC customers' experience.0 -
Thanks everyone. That's extremely helpful. I don't think FD is for me. Well, not for my main current account anyway. I might look into opening an account and just switching money in and out each month to qualify to open one of their high interest regular savers.
I'll probably go with NatWest rather than a Scottish branch of RBS because I quite like having a local branch to use on odd occasions even though I do most of my banking online.Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.0 -
Switching to a different bank after all those years with RBS will mean you lose all that credit history, may not be the best idea since you will start from scratch gaining credit score with the new bank.Thanks everyone. That's extremely helpful. I don't think FD is for me. Well, not for my main current account anyway. I might look into opening an account and just switching money in and out each month to qualify to open one of their high interest regular savers.
I'll probably go with NatWest rather than a Scottish branch of RBS because I quite like having a local branch to use on odd occasions even though I do most of my banking online.
If you use the RBS process to move your account to a Scottish branch, your account retains all of it's current T&Cs and hence your history remains. But, be quick, you only have a few days remaining to take advantage of this process.
RBS have said that they are looking at ways to give customers branch services locally after moving to a Scottish branch, but they have not yet said what they will arrange.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Switching to a different bank after all those years with RBS will mean you lose all that credit history, may not be the best idea since you will start from scratch gaining credit score with the new bank.
No - your history with RBS will remain on your credit report for six years, and will be visible to any other bank with whom you hold/apply for a credit product.
If it was me, I would take it as an opportunity to get away from Natwest, and experience a proper bank.0 -
No - your history with RBS will remain on your credit report for six years, and will be visible to any other bank with whom you hold/apply for a credit product.
If it was me, I would take it as an opportunity to get away from Natwest, and experience a proper bank.
experience a proper bank?. oh... so which bank do you use then ? or which is a 'proper bank'
im curious• HSBC (Main A/C)
• Halifax Back up A/C
• Lloyds (Spending) A/C
• RBS Back up A/C
• Barclays Old A/C
• Nationwide Old A/C0 -
Yes the history may be on a credit report for 6 years, but moving to a new bank WILL mean a new account with a new entry on that same credit report showing zero years with that bank account, so will effect the overall rating, which is the main point I was making (as I'm sure you are aware). Also, after 6 years have past, all of that previous history with RBS will be lost, you may not care about that, but I would.No - your history with RBS will remain on your credit report for six years, and will be visible to any other bank with whom you hold/apply for a credit product.
If it was me, I would take it as an opportunity to get away from Natwest, and experience a proper bank.
If you do not like the RBS group, fair enough, but that is not a reason for the OP to change banks when the OP seems to be happy with RBS but just does not want to move to Santander.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
experience a proper bank?. oh... so which bank do you use then ? or which is a 'proper bank'
im curious
Any bank that acts professionally and courteously to its customers.
Natwest are well known for not being easy to deal with. Back when I worked in a bank branch (not Natwest), it was very clear that it was easier to get people to transfer their current accounts from Santander or Natwest - because on the whole, people were not happy with those banks. Getting a current account transfer from HSBC/Lloyds TSB/Nationwide etc was far more difficult, since most people are happy with those banks (/building society).Also, after 6 years have past, all of that previous history with RBS will be lost, you may not care about that, but I would.
But by the time that six years have passed, the OP will have six years worth of history with the new bank.
If you have managed your account well during that time, then that will count for a whole lot more than data that is over six years old.
I do not believe that banks' scorecards are set to make decisions based on data that is, say, 6-10 years old.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards