First Direct?

HeadAboveWater

So.... long story short, wanting to change bank accounts.

Apparently nobody gives money for being in credit, other than Santander (who I'm gonna be leaving) with the interest on their 1-2-3 account, or Halifax (who I wouldn't touch with a barge pole) with their £5 a month reward.

I don't need anything fancy. A bank account. Online banking. Debit card. No overdraft. Simple enough?

Best deal I think I can find is with First Direct as I'd get £100 for switching. I know there are no walk-in branches, but it's just for basic banking. Would 'top up' my wages to make the £1500 income, switch all dd/so, open an E-saver to be sure of no charges. After about 7 months close the account and get another £200! :beer:

To me it kinda seems like a no-brainer but please correct me if I'm wrong!!!!

InsideInsurance

Other than it doesnt actually solve your problem of wanting to be with a different bank as you'll need to find someone else in 7 months time.

Fine to switch to them for £100, personally if they were any good I think "loosing" the other £100 is more than worth it as none of the banks I've found come close to being trustworthy enough to have my money.

Idiophreak

You can't just leave to get the £100 - you have to have a good reason, have raised a complaint, or something of that nature.

But you shouldn't, really, want to leave - they're really quite good. I gave up the £100 extra to never have to "please enter your date of birth, followed by the hash key"....calling a number and just having someone answer the phone really does feel indulgent these days...

exel1966

HeadAboveWater wrote: »

So.... long story short, wanting to change bank accounts.

Apparently nobody gives money for being in credit, other than Santander (who I'm gonna be leaving) with the interest on their 1-2-3 account, or Halifax (who I wouldn't touch with a barge pole) with their £5 a month reward.

And Lloyds with a Vantage account who pay up to 3.00%AER.

Idiophreak

Also, I think Santander offer £100 to join if you apply online...So why not go there for 6 months first. By all accounts, you'll be perfectly ready to leave them in 6 months time and never go back

HeadAboveWater

Idiophreak wrote: »

You can't just leave to get the £100 - you have to have a good reason, have raised a complaint, or something of that nature.

Could I say I thought I could cope with only online banking and not having a branch to walk into, but time has told me differently?!?! :rotfl:

But you shouldn't, really, want to leave - they're really quite good. I gave up the £100 extra to never have to "please enter your date of birth, followed by the hash key"....calling a number and just having someone answer the phone really does feel indulgent these days...

Fair point! Thanks!!

EDIT: What's their online banking facilities like? Used with Santander which, to me, is really good.

exel1966 wrote: »

And Lloyds with a Vantage account who pay up to 3.00%AER.

Ah. Forgot bout them. Wasn't there something 'bad' about them on the news recently...?

In saying that, there's always some bank on the news for something 'bad' happening in some shape form or other!!!!

HeadAboveWater

Idiophreak wrote: »

Also, I think Santander offer £100 to join if you apply online...So why not go there for 6 months first. By all accounts, you'll be perfectly ready to leave them in 6 months time and never go back

Thanks - but it's Santander I want to leave!! lol :rotfl:

exel1966

HeadAboveWater wrote: »

Ah. Forgot bout them. Wasn't there something 'bad' about them on the news recently...?

In saying that, there's always some bank on the news for something 'bad' happening in some shape form or other!!!!

I don't think so. Lloyds for me has been one of the better banks out there. I still have numerous Vantage accounts.

HeadAboveWater

Thanks exel1966. It would need to be online banking only for me as we've no branches here in Northern Ireland. Well, it wasn't showing me any when I checked their website...

Another option to think about thank you

dr_adidas01

HeadAboveWater wrote: »

So.... long story short, wanting to change bank accounts.

Apparently nobody gives money for being in credit, other than Santander (who I'm gonna be leaving) with the interest on their 1-2-3 account, or Halifax (who I wouldn't touch with a barge pole) with their £5 a month reward.

I don't need anything fancy. A bank account. Online banking. Debit card. No overdraft. Simple enough?

Best deal I think I can find is with First Direct as I'd get £100 for switching. I know there are no walk-in branches, but it's just for basic banking. Would 'top up' my wages to make the £1500 income, switch all dd/so, open an E-saver to be sure of no charges. After about 7 months close the account and get another £200! :beer:

To me it kinda seems like a no-brainer but please correct me if I'm wrong!!!!

Sorry but Lloyds TSB give you interest of up to 3% if you have a vantage account with them. So your nobody gives money for being in credit isn't quite true.

Also the £200 from First Direct isn't as simple as just closing the account 7 months down the line. You have to have valid reasons for doing so. You have to have a valid complaint of where they have made errors on their part, and not because you think they are just wrong.

I have a Lloyds TSB vantage account and a First Direct account, Lloyds TSB is better for everyday normal banking and has a better online banking system.

First Direct is good if you prefer to do things over the phone, as they are still a telephone bank, despite having online banking facilities, which aren't that great.

HeadAboveWater

Had forgotten about Lloyds until excel1966 reminded me...!

Was just chancing my arm with the extra £100!!! :rotfl: If you don't ask you don't get (sometimes don't get anyway!!)

I don't use telephone banking at all. Never have. It's online for me (with a very occasional trip into a branch) so would hope First Direct is at least pretty decent for online, even if it's not the best.