First direct cash for switching - too late?

Alan01252

Hi guys,

I opened an first direct current + savings + regular savings account to get the 8% on regular savings in January

I've paid over the £1500 a month into the account in Jan + Feb but didn't transfer my direct debits, as I like having everything with my current bank.

I'm now thinking maybe I should open the Santander/Tesco savings account and put some direct debits on the first direct account to get the cash from "switching".

Will this still work or am I too late? I've had a quick Google but nothing answers my question.

Thanks

Alan

grumbler

The requirement was to use their "Easyswitch service (transferring at least two Direct Debits and/or standing orders) and salary/income of at least £1,500 per month to your 1st Account within three months of your account opening".

I think it's not late yet to transfer.

Alan01252

It's the transferring bit I'm not sure about. I don't really want to transfer direct debits, but I'm happy to set up new ones.

Thanks for your reply

YorkshireBoy

Alan01252 wrote: »

I don't really want to transfer direct debits, but I'm happy to set up new ones.

Then why not set up 2 standing orders (perhaps to a savings account or your partner's current account) and switch these instead?

Alan01252

Thanks YorkshireBoy... feel pretty stupid now! That seems so ridiculously obvious.

YorkshireBoy

Alan01252 wrote: »

Thanks YorkshireBoy... feel pretty stupid now! That seems so ridiculously obvious.

two Direct Debits and/or standing orders

Such a small, but very important, word isn't it?

jayjay21

Just a quick one guys, what if I manually put 1500GBP in PCM? I don't want to switch my salary, but I am happy to switch over 2 DD's or SO's and put the money in myself, would this qualify or not? Does the money have to remain in the account at all? Thanks.

bsms1147

That's fine, and no, it doesn't have to stay there.

jayjay21

Fantastic! Why haven't I done this already? Thanks.

bsms1147

And don't forget it goes down to £1000pcm from April

innovate

jayjay21 wrote: »

J...I am happy to switch over 2 DD's or SO's and put the money in myself...

Putting money in yourself is ok. For switching of DDs/SOs, you have to use their switcher service.