FD £125 - question to those who have used offer!

YorkshireBoy

em18 wrote: »

So on the application process, when it says will you be paying your salary into the account, did you select yes or no? This is the bit that threw me!

Which form are you completing? Because the online form asks...

"Will your income be paid into this account?" ie no mention of 'salary'.

bobmorley

So if I fill in the 'standing order and direct debit transfer form' and therefore transfer these over to my first direct account. But don't fill in the 'income transfer form' but instead manually transfer £1000 a month into my account this should meet the criteria?

DragonQ

Oooh, didn't realise you could transfer 2 SOs instead of DDs. Now that they've reduced their income requirements, I qualify for this...although I did have a First Direct ISA many moons ago, so I guess I won't get the £100 (where does the £125 figure come from?). Having access to a 6% regular saver would still be nice though.

Vladislavs

YorkshireBoy wrote: »

Which form are you completing? Because the online form asks...

"Will your income be paid into this account?" ie no mention of 'salary'.

Can i ask about FD 250£ overdraft. For example i will open an account with FD using theirs easyswitch system with 2 DD, and i will start to use all 250£ ovedraft, but still will pay in a 1000£ a month, so my balance will be -250£ plus 1000£ = 750£ for one day, then i will transfer that 1000£ eslewhere on the same day.
Will i still qualify for 100£ incentive?
My plan was to open an FD current account, to get this 100£, and at the same time to withdraw 250£ overdraft and to put it in my ISA with nationwide for 2.5%, which will give me .62p a month tax free interest
Any ideas?

YorkshireBoy

Vladislavs wrote: »

...withdraw 250£ overdraft and to put it in my ISA with nationwide for 2.5%, which will give me .62p a month tax free interest
Any ideas?

Try another calculator?

Vladislavs

YorkshireBoy wrote: »

Try another calculator?

haha it doenst really matter how much, im just thinking in general about that idea

YorkshireBoy

Vladislavs wrote: »

im just thinking in general about that idea

Your credit report will show...

Limit: £250
Balance: £250

...which could indicate 'distress' to anyone else searching your file.

Also, taking the whole lot (for such a small gain) leaves you vulnerable to charges if you slip up and go over the £250.

I wouldn't bother for £250 (and didn't when I had my FD account), but when Santander gave me a £10,000 O/D facility I couldn't resist!

Vladislavs

YorkshireBoy wrote: »

Your credit report will show...

Limit: £250
Balance: £250

...which could indicate 'distress' to anyone else searching your file.

Also, taking the whole lot (for such a small gain) leaves you vulnerable to charges if you slip up and go over the £250.

I wouldn't bother for £250 (and didn't when I had my FD account), but when Santander gave me a £10,000 O/D facility I couldn't resist!

I see! interesting! question abouit 1000£ that i have to pay in monthly to get a 100£ incentive, is it calendar month?
For example if i will open FD account on 25 of may and im not gonna make a deposit within the next 5 days (will be waiting for paperwork and online banking details by post) it means that i missed that month and im not going to meet all conditions for incentive?
its better to apply at the beginning of june then?

innovate

You don't have to pay in £1K monthly to get the £100. You have to pay in £1K within 3 months of account opening.

** Open a 1st Account then transfer your banking using our Easyswitch service (transferring at least two Direct Debits and/or standing orders) and salary/income of at least £1,000 per month to your 1st Account within three months of your account opening and we will add £100 to your account.

Vladislavs

innovate wrote: »

You don't have to pay in £1K monthly to get the £100. You have to pay in £1K within 3 months of account opening.

oh i see, thanks!
Isnt it First Direct part of HSBC?
If i will transfer my existing HSBC current account with 2 DDs using FD easySwitch program, will i still qualify for 100£?