Opening First Direct Account whilst on Benefits

Katinka

Hello there,

I am wondering whether there might be certain restrictions, such as being in receipt of income based JSA etc, which might prevent me from opening an account with First Direct (I am particularly interested in the £100 Reward one).

I have been on the Electoral Roll, since I've moved in, but upon checking my credit report, I found out, that they had misspelled my name, which meant I didn't show up on the register. I have since amended the entry and made noddle and equifax aware.

Other than that, my record is pretty much clean as a whistle, apart from the fact that I've not had much credit in my name, because I've always been a firm believer in paying upfront and not allowing myself to buy stuff I can't afford. I know what I'd be like, given half a chance.

So my question is, if I called FD to explain my Electoral Roll situation, and I told them, that my monthly 'income' is over £1500, which it is, once I count Housing Benefit and Child Benefit, Child Support and Child Tax Credit, would they be inclined to take the fact that I'm on Benefits against me? (I obviously don't intend to stay on Benefits indefinitely, but I would like to apply sooner rather than later, since Nationwide's customer services sound befuddled, half the time I phone to enquire about things like SEPA payments from EU from my parents etc)

Any advice would be much appreciated and please be gentle, I'm new to MSE and this Forum!

Thank you

jalexa

Katinka wrote: »

So my question is, if I called FD to explain my Electoral Roll situation, and I told them, that my monthly 'income' is over £1500, which it is, once I count Housing Benefit and Child Benefit, Child Support and Child Tax Credit, would they be inclined to take the fact that I'm on Benefits against me?

Welcome to the forum.

Don't ask a question which invites a "no" answer. I suggest you just apply, answering every question on the application form accurately and honestly. If the form gives you the option, don't request an overdraft. You may or may not be successful. If not successful, live and learn.

To avoid a monthly fee you need to start funding £1500 after a certain number of months (6?). To get the £100 you need to comply with the offer terms.

MoneySaverLog

If you tell them you're unemployed they wont give you a bank account. They are the pickiest bunch of the lot.

dalesrider

jalexa wrote: »

To avoid a monthly fee you need to start funding £1500 after a certain number of months (6?). To get the £100 you need to comply with the offer terms.

Or open a savings account.

I would apply for the account online and select the savings acc at the same time.

Although to be honest. I would not hold out too much on you getting a account.

Is there a joint party who is working ? Who could apply for a joint acc.

[Deleted User]

Katinka wrote: »

my monthly 'income' is over £1500, which it is, once I count Housing Benefit and Child Benefit, Child Support and Child Tax Credit

is the HB technically "income"? do you get paid it, or does it go direct to your landlord? Because if you don't see it, it won't be going into your account, so FD won't see it, thus meaning you won't get the £100 joining bonus.

pimento

It would also have to go in in one go.

I get paid twice a month and it's under £1500 each time (but more when both are added together). I didn't get my £100 for joining until I called and explained that my salary was paid twice monthly.

dalesrider

Remember it also says on the FD site you need to use EasySwitch to get the £100 as well.

jalexa

pimento wrote: »

It would also have to go in in one go.

If you say so and I accept your experience as reported, but do you have a small-print reference? I can only find this "...monthly salary or income of £1500...". I don't believe that is intended to disadvantage weekly or fortnightly funding. But I stand to be corrected.

Katinka

billbennett wrote: »

is the HB technically "income"? do you get paid it, or does it go direct to your landlord? Because if you don't see it, it won't be going into your account, so FD won't see it, thus meaning you won't get the £100 joining bonus.

@billbennett
my Housing Benefit is paid into my account, so in the grand scheme of things, i.e. if I could count my benefits as 'income', then it would make up the bulk of my 'income'. (:S I don't know why, but I always feel like people are judging me because I'm in receipt of benefits. Not that anyone has ever said anything, it's just because I'm not comfortable admitting it. Probably because I had never imagined being 'one of them'... if that makes sense?)

Katinka

pimento wrote: »

It would also have to go in in one go.

I get paid twice a month and it's under £1500 each time (but more when both are added together). I didn't get my £100 for joining until I called and explained that my salary was paid twice monthly.

Wow... that's handy to know.
Once you explained your situation, you got your 'bonus', though?
In my case the payments are - as you can imagine - very spread out, i.e. HB is monthly, JSA every two weeks, CHB every four weeks etc.
That'll take some explaining, mefinks!

Katinka

dalesrider wrote: »

Remember it also says on the FD site you need to use EasySwitch to get the £100 as well.

Yes, I noticed that.
That shouldn't be a problem, though, as I would simply *I hope* switch from my Nationwide Flex Account - which is my current current account, for Direct Debits etc - and transfer everything to FD.
Did I miss something, which might prove to be an obstacle, when switching?