Switching Current account to First Direct

Shuggy7

Good afternoon all I wonder if someone could help.

I have decided on switching to First Direct (from HSBC) to receive the £100 bonus and decent 6% savings now they have brought the minimum monthly pay in to £1000.

However, I've just seen in their notes "sorry, but we can only offer this to people who haven't previously held any account with first direct"

Now, about 6 years ago I did have an ISA account for 1 year with First Direct. I know this probably seems stupid to ask but does anyone know if they will even check this out? It seems so meaningless from that long ago but if they ended up not paying the bonus I won't bother with the hassle of switching.

Anybody been in a similar situation or can pass any advice would be much appreciated.

Thanks,

Sean

innovate

Yes, reports are that they do check, and that they keep records for a very long time, certainly longer than 6 years. But no harm trying - ring them and ask whether you qualify for the opening bonus. Let them find out whether you are on their system, IYSWIM.

Shuggy7

Cheers Innovate. I'll do that. Kind of didn't want to bring attention to it with them but I suppose things don't work like that.

Thank you

Gizmo247

Yes. I had an ISA with First Direct many years ago to which I had never contributed, so they closed it on its anniversary.

When I opened a 1st Account recently they didn't originally say anything about it until the account was being set up. So no £100 for me , although I was only opening the account to service my offset mortgage.

I had a similar problem with Santander.

I tend to treat welcome payments as a surprise bonus and never rely on getting them, the financial product is more important to me.

kgeerstick

Hello everyone,
I'm still fairly new to the forum - only a few posts, more of a reader every now and then. I found this old thread so hoping someone can help here rather than me starting a new one. I think thats what I am supposed to do?

Anyway, I bank with HSBC and have had the same bank account since I left school and started working full time - approx 15 years ago. Now I am debt free (nice cars have been my downfall), I am looking to change to a shiny new bank account where I can start to put my debts behind me and make the most of my savings which will basically be what went on my loans and credit cards each month. Changing bank accounts does worry me a bit as they do say "if it aint broke, don't fix it" but maybe its time for me to get my life and my money sorted out once and for all.

I have seen this First Account offer by First Direct (£125 for opening the account and 6% AER on a Regular Saver - I hope to also get an ISA but will shop around for that) and think I would qualify for the offer. My credit score is green on Experian and Equifax, I earn a good salary and have never had a First Direct Account - but I spotted a comment on MSE / Martin Lewis' Facebook page which says that as First Direct is a division of HSBC, any HSBC customer would not be accepted for this new account offer.

Does anyone know if this is true? Anymore info or advise about this would be gratefully received - I'm pretty clueless having debts throughout my 20s and the same account for so long. I have not been able to find anything about this in the small print, but that doesnt mean its not there somewhere. I have heard and read so many good comments about the customer service received by First Direct customers, it seems a shame that I may not be able to take advantage of this for joining HSBC 15 years ago.

Many thanks in advance.

mrmajika

kgeerstick wrote: »

Does anyone know if this is true?

Yes. It's not true. So long as you've never held and First Direct branded product, you will be ok with the offer. I've heard people being knocked back for having ISA's and savings accounts with FD, but never for having an HSBC account. I'm sure if you trawl the forum you will already find HSBC customers who have already received the joining bonus.

dalesrider

kgeerstick wrote: »

but I spotted a comment on MSE / Martin Lewis' Facebook page which says that as First Direct is a division of HSBC, any HSBC customer would not be accepted for this new account offer.

Many thanks in advance.

From the MSE link to the FD page.....

£125 when you switch

• to qualify you need to transfer your banking using our Easyswitch**** service (transferring at least two Direct Debits and/or standing orders) and transfer your salary/income of at least £1,000 per month to your 1st Account within three months of your account opening
• sorry, but we can only offer this to people who haven't previously held any account with first direct
• we reserve the right to refuse any application for a product or service. All credit is subject to status.

No mention of HSBC there.....

kgeerstick

Thank you both for your help here. I phoned First Direct this evening, was greeted by a very helpful lady called Helen who confirmed that HSBC customers are entitled to the First Account incentive as long as they have never held an account with them in the past.