first direct opening account advice please

YorkshireBoy

chili1496 wrote: »

i have 2 months to switch so i get the £125 quid, not really bothered if i do or don't was after the savings account more than anything.

The 6% regular saver will make you...

£3,600 x 6% / 12 x 6.5 x 0.8 = £93.60

But...you could make approx 2% anywhere (more with a bit of effort), so the real net benefit is...

£3,600 x 4% / 12 x 6.5 x 0.8 = £62.40

In not setting up 2 x SOs on an existing account elsewhere and switching these, you're throwing the equivalent of 2 years Regular Saver profit away!

chili1496

in order to get the £125 quid switching fee i do have 2 very small amount direct debits i could transfer, what about the payment of cash in each month would i be able to transfer £1000 into the account then transfer it back to my main bank, would this meet theor criteria?

Tigerstripe

Another question on FD so won't start another thread. It looks like you can set up a joint account. Does anyone know if this means my wife and I are both eligible to set up separate 6% regular savers from having 1 current account?

YorkshireBoy

chili1496 wrote: »

in order to get the £125 quid switching fee i do have 2 very small amount direct debits i could transfer,

You don't *have* to switch DDs. You could set up 2 small SOs, perhaps £1 each, to other accounts you hold and switch these instead.

You could even set them up to pay out once per year, say in August, and cancel them before they've even been paid (once you've bagged your £125).

what about the payment of cash in each month would i be able to transfer £1000 into the account then transfer it back to my main bank, would this meet theor criteria?

Some here have done that, yes.

When I switched to them a few years ago I switched my salary to be on the safe side (primarily because I knew when I joined I'd also be going for the £100 leaving present in month 7 ).