first direct regular saver 8% to be withdrawn

Rich1976

so once the regular saver has gone what incentive is there to use First Direct?

Apart from getting straight through to someone, very little I should imagine.

ColdIron

Just off the top of my head ...
Their 1 year fix at 2.3% isn't too bad in the current environment
Their cash ISA at 3% is very good if you have 40k
Customer service has it's value, hey I'm also with Barclays so I can tell the difference

Gromitt

Rich1976 wrote: »

so once the regular saver has gone what incentive is there to use First Direct?

Note the use of the word 'temporarily'. This might mean they are withdrawing it to change the T&Cs, interest rate and so on.

alanq

ColdIron wrote: »

Just off the top of my head ...
Their 1 year fix at 2.3% isn't too bad in the current environment

N.B. "Rate available until 31 January 2013." "This is a tranched product, meaning a new bond will be released monthly."
http://www1.firstdirect.com/1/2/savings/fixed-rate-savings?WT.ac=FDST_LHM_SAV_FRS1002

The account is also worth considering because early closure is permitted for a fixed penalty of £100 which may be a benefit especially for larger sums.

GreenBitterfly

Gromitt wrote: »

Note the use of the word 'temporarily'. This might mean they are withdrawing it to change the T&Cs, interest rate and so on.

But if the interest rate is brought in line with other banks and building societies, whose regular saver aren't linked to their current account. Unless you are already with First Direct, there's no real incentive to switch to them.

MiserlyMartin

ColdIron wrote: »

Just off the top of my head ...
Their 1 year fix at 2.3% isn't too bad in the current environment

Sad times in which we live today when 2.3% 1 year fixed is good.

MiserlyMartin

innovate wrote: »

What are you trying to achieve by advertising on an Internet forum that you are breaking T&Cs by operating bank accounts in other people's names, without a legally valid authority to do so?

How do you know that is what they are doing? Not that its a problem anyway.

All self righteous again I see. Read this thread by Mr MSE himself.

huw01

I phoned them this morning as my reg saver matures on 28 Feb. Thus I will miss out on opening another one (this is my third year).

The adviser told me that they would be relaunching the reg saver in march with new terms and conditions and a new rate. She didn't have any further details

typistretired

First Direct the nett after tax interest on their regular saver of 8% if you pay in £300 per month is about the £125 mark.

First Direct the nett after tax interest on their fixed bond at 2.30% if you put £3600 in is only around the £64 mark.

typistretired

huw01 wrote: »

I phoned them this morning as my reg saver matures on 28 Feb. Thus I will miss out on opening another one (this is my third year).

The adviser told me that they would be relaunching the reg saver in march with new terms and conditions and a new rate. She didn't have any further details

So no special rates for long term savings/bank account customers. I remember when they paid me 2% gross interest on my current account, those were the days.