First Direct- have to pay in income?

Jimmy_Neutron

I'm wanting to join First Direct to take advantage of their £125 joining incentive, but I do not want to pay my wages in to that account. Can I just pay in £1000 per month and transfer a couple of direct debits from another current account that I have?

lisyloo

It says salary/income but I'm pretty sure they have no idea of the originator of the deposit.
On that basis my personal opinion is that you would get away with it, but I haven't tried it.
On their website it's £100 and not £125.

Jimmy_Neutron

If you go through the MSE news latter link its £125.

When you fill the application in it asks for your employer details. Would they contact your employer to transfer the First Direct details over?

cwal

I moved my account to FD back in Dec but didn't want to move my salary across, they didn't do that bit automatically, it was up to me to contact my employer if I wanted them to pay my salary in to my new account. If I remember correctly they ask for your emplyment details as part of the application process so if necessary they can check you work for who you say you do - nothing to do with changing where your salary is paid to.

karlie88

cwal wrote: »

I moved my account to FD back in Dec but didn't want to move my salary across, they didn't do that bit automatically, it was up to me to contact my employer if I wanted them to pay my salary in to my new account. If I remember correctly they ask for your emplyment details as part of the application process so if necessary they can check you work for who you say you do - nothing to do with changing where your salary is paid to.

I have a relative who is unemployed and essentially 'lives off' the interest they make on their savings.

Would they be able to open a 1st Account? Or would they get rejected based on the fact that they're not employed?

What would they have to enter when it comes to their employment details?

MissyD_2

All your answers can be found here.....
seems like a £1000pm transfer should ok but check their terms and conditions
http://www2.firstdirect.com/1/2/banking/current-account?WT.ac=FSDT_TABS_HOME_BA1314

Account details
http://www2.firstdirect.com/1/2/banking/current-account?WT.ac=FSDT_TABS_HOME_BA1314
I bank with First Direct, they are the best bank I've banked with!

innovate

MissyD wrote: »

All your answers can be found here.....
seems like a £1000pm transfer should ok but check their terms and conditions
http://www2.firstdirect.com/1/2/banking/current-account?WT.ac=FSDT_TABS_HOME_BA1314

It must have been mentioned a thousand times by now on MSE that you only need to pay in the £1K if you want the joining incentive. For regular running of the account, you do not need to pay in a bean - a simple esaver with a £1 balance will save you all the charges.

The £1K requirement is due to be reduced to £750 from May onwards, I believe.

MissyD wrote: »

I bank with First Direct, they are the best bank I've banked with!

It all depends on your requirements and expectations. I would never leave a penny in an account that pays no interest - not if I have alternatives that pay 3% or even 5%, anyway. However, I am happy to keep £1 in such an account if it provides me with access to a really good Regular Savings account (which the FD current account does).