1st Direct - three quick questions

Baking_Mad

My OH has opened this account and will be putting 1st £1500 in this month.
The questions I have:

1) Does he need to physically put £1500 in each month or would £1 in the e-saver somehow negate the need to do the monthly transfer (I've seen some contradictory info re this on the forum) A link to T&C would be great.
2) Does he need to fund the e-saver with £1 each month or is it just £1 in total in order to prevent the charges?
3) How long does he have to transfer money into the acc to qualify for £125 intro offer (again seen on here some say 4 mths, others 6 mths?)

Thank you very much.

Yorkie1

As I understand it:

1) £1 in the e-saver removes the need to fund it with £1500 per month
2) £1 balance, not £1 per month
3) don't know

adamc260

Yorkie1 wrote: »

As I understand it:

1) £1 in the e-saver removes the need to fund it with £1500 per month
2) £1 balance, not £1 per month
3) don't know

As above !

apt

You will need to keep transferring £1500 into the First Direct current account until the bonus is paid. This should be after 3 months.

samwsmith1

apt wrote: »

You will need to keep transferring £1500 into the First Direct current account until the bonus is paid. This should be after 3 months.

My bonus was paid a couple of days after paying the first £1500 in, I don't know if this has changed recently.

coldcazzie

My bonus took just over a month to be paid.

EarthBoy

alionaear wrote: »

1) Does he need to physically put £1500 in each month or would £1 in the e-saver somehow negate the need to do the monthly transfer (I've seen some contradictory info re this on the forum) .

You will have seen contradictory info because some people confuse two different things: a) the joining bonus and b) the monthly account fee

To get the joining bonus of £100/£125 you must credit the account with £1500 for the required number of months (I don't know how many). There is no way round this.

If you open a savings account with £1 and leave it there you will not have to pay the monthly account fee (£10) even if you don't pay in £1500 p/m. I don't pay in anything like that amount and I have never paid an account fee. You can also avoid the monthly fee by taking out a credit card (even if you don't use it) or a mortgage.

andrewsummers

I got a quick question - A friend of mine registered with first direct online on saturday and opened up a couple of savings accounts but they haven't emailed him about setting up username/password etc to login - does it a few days to proccess his details etc?

Baking_Mad

Thanks very much everybody. Still a bit unsure but think we better stick to transferring money in and out to make sure we get the intro offer.

To the previous poster, we got all the docs by post, nothing by email

samwsmith1

andrewsummers wrote: »

I got a quick question - A friend of mine registered with first direct online on saturday and opened up a couple of savings accounts but they haven't emailed him about setting up username/password etc to login - does it a few days to proccess his details etc?

They'll get a letter asking them to ring them on 08 456 100 100 (or 0113 234 5678) to setup telephone security and at the same time he can get the access codes needed to register for online banking.
http://www1.firstdirect.com/1/2/ourservices/internet-banking/register

Lith

Yorkie1 wrote: »

As I understand it:

1) £1 in the e-saver removes the need to fund it with £1500 per month
2) £1 balance, not £1 per month
3) don't know

Never understood that.... doesn't that 'somehow' defeat the purpose of £1500 a month ?


what's stopping people signing up to FD agreeing to pay £1500 then just open an e-saver? lol (think i'll do this :rotfl:)