First Direct Joining Incentive

clemandjaz

Have just attempted to start the switching process to the FD 1st account but have been told as I once had a savings account with them which was closed 6 years ago I do not qualify for the £100 joining incentive. Had a robust discussion with an unbending supervisor who agreed that this was poor marketing - I am demonstrably not a recent customer who has just closed off one account to benefit fro this incentive.
When I asked why I should still open the account, the supervisor tritely said 'so I could benefit from the best customer service in the world'! This particular [ex] customer does not feel the above policy demonstrates this.
They have lost my business - shall go to Santander instead.

heloid

clemandjaz wrote: »

They have lost my business - shall go to Santander instead.

:doh::doh:

mrmajika

clemandjaz wrote: »

I am demonstrably not a recent customer who has just closed off one account to benefit fro this incentive.

Whilst I agree with your statement, in First Direct's defence, they don't mention anything about being a 'recent customer'.

IMO, the T&Cs are quite clear.

This offer is only available for people who haven't previously held any account with first direct and is limited to one payment per joint relationship.

I think that sentence well and truly rules you out of the incentive.

Nine_Lives

True. They don't try & spring it on you like Halifax seem to do with their £100 offer - refusing to pay anyone who doesn't transfer their salary as well (view the thread on it from a few week back to see the aggro on here that that caused). At least they're up front.

They seem difficult to join though. My brothers situation isn't much different to my own, yet FD wont let him have the account.

clemandjaz

I accept FD's adherence to their T&C, but questiont the poor marketing it's stringent conditions constitute.
Surely the objective of a joining incentive is to atttract new money into an institution? A requirement for no relationship with said institution for a period of years [their supervisor agreed that this could well be set at say 5 years] would ensure this was the case, as opposed to existing customers temporarily moving funds around. A blanket ban on all previous customers is just shooting themselves in the foot in the current market.

Nine_Lives

You make a very good point & one that i agree with.

However...

it still states in the T&Cs, simple. I don't like it, i don't agree with it, but i wouldn't try applying & thinking i could get something out of it if i knew about this clause.

rich_jtg

Exact same thing happened to me.

However, as many are probably thinking, you don't choose a bank by the incentive they offer, you choose it by the customer service and products that they offer.

If these are right for you, then the bank is right for you, and is where your hard-earned money should be kept.

MoneySaverLog

There is some irony in the OP post, I mean Santander are near the bottom of the "customer service" league tables where first direct are towards the top.

Though, the OP seems to have a valid point about the way the call was handled by first direct not being very customer focused, yet using this as their selling point for their client. Ironic.

On a seperate note if the old account was closed for 6 years, surely details of it should have been removed from their records by now too.

Gromitt

rich_jtg wrote: »

However, as many are probably thinking, you don't choose a bank by the incentive they offer, you choose it by the customer service and products that they offer.

Completely agree, but I do open accounts with banks that offer an incentive to try them out and grab the incentive if I can match the requirements easy enough.

rich_jtg wrote: »

If these are right for you, then the bank is right for you, and is where your hard-earned money should be kept.

Disagree. I use FD as my main bank, but I'd never use it for savings apart from their 8% 'Regular Saver'. Once salary is paid in, I only leave enough money in to cover the bills. The rest is transferred elsewhere. 0.25% is an insult when I can get 3-4% elsewhere.

alanq

Gromitt wrote: »

0.25% is an insult when I can get 3-4% elsewhere.

A 1% bonus is available for 1 year on money credited from a non-FD account to the Everyday eSavings account. 1.25% is not a leading rate but by no means the worst around.

Gromitt

True, but if someone is willing to transfer their savings from elsewhere, why would they choose the FD 1.25% over the many 3% deals available? Heck, even Halifax offers 2.8% for a year.