First Direct - salary or transfer?

Delta_1984

Hi Everyone,

My first post on here after regularly popping on to read, I couldn't find the answer to my question so thought I should get involved!

Can someone tell me if I open a First Direct account whether the 1500 pm actually has to be paid by my employer or whether I can transfer from another account each month? Has anyone done this?

(I have 2 current accounts atm, one which pays £5 pm reward, and another where all benefits have expired which I can use for switching, but my salary gets paid into the former)

Thanks in advance for advice.

Delta

innovate

The money can come from anywhere (that's legal).

Delta_1984

Perfect, thanks!

Delta_1984

I forgot to say in my original post - can I transfer the 1500 or does it have to be salary specifically wrt getting the £100 joining bonus?

Gromitt

You can transfer it from any non-FD account.

Cyrus

Delta_1984 wrote: »

Hi Everyone,

My first post on here after regularly popping on to read, I couldn't find the answer to my question so thought I should get involved!

Can someone tell me if I open a First Direct account whether the 1500 pm actually has to be paid by my employer or whether I can transfer from another account each month? Has anyone done this?

(I have 2 current accounts atm, one which pays £5 pm reward, and another where all benefits have expired which I can use for switching, but my salary gets paid into the former)

Thanks in advance for advice.

Delta

You'll need to add two DD's as well to get it. I tried just transferring the £1500 in without the DD's but it didn't work.

Gordon_the_Moron

You need to transfer 2 or more direct debits/standing orders in to get the bonus.

The £1500 deposit required each month can come from outside though I don't think deposits from other First Direct accounts count and I'm not sure about other accounts inside the HSBC group. Whether it comes from your current account elsewhere or your salary does not matter.

If you want to transfer your DD/SOs to FD personally I'd move all of them there and leave your salary going to Halifax (I assume it is them you are talking about with the £5 bonus) then just immediately transfer from Halifax to FD on payday. That is exactly what I do and it works (though it doesn't stay at FD it moves again, I only transfer into there so I can make use of their 8% regular saver)