First Direct Regular Saver - Sums!!

fozziebeartoo

Thank you for that good point!!

I have it in my head that Santander123 woud be the 1st (primary) account and therefore where my pension would go.....

But yes, FD could be that instead and allow me to transfer the residue to Santander123 and satisfy their requirements too

Vortigern wrote: »

As others have said: you pay in £1000 per month but you DON'T have to leave it there.

So pay £1000 per month into first direct's current account. £300 of that then goes to first direct's regular saver. The remaining £700 could be transfered to Santander to satisfy the funding requirement for the 123 account.

If you open a joint current account with FD, each of the joint account holders can have a regular saver.

fozziebeartoo

Aha.....

Think the post after yours has got my lightbulb moment lighting!!

Well, glowing slightly anyway......;)

Thanks again everyone for the advice.

I WILL get my head around it, I WILL!!


:rotfl:

nat21luv wrote: »

Why would you turn your nose up at £100 if your that keen on saving/getting the best rates? The £100 is more than you would earn in the Regular saver at 6% on £300pm for 12 months(£94 after tax) I Only know this because I opened the reg saver a few days ago and read the small print with a bit of clever manoeuvring of money and that's £100 free making it's way to you.

fozziebeartoo wrote: »

Like I said in my original post, I am in the process of opening the Santander 123 so that will "use up" my pension being paid IN and my DD's coming out.

FD said on the phone I need £1000 being paid in every month and DD's coming out to qualify for the one-off £100.

And I probably wont have £1000 left over in Santander 123 to pay into the FD every month.....

So cant see how I could qualify for the FD £100????

But please tell me if you can!

wesleyad

Vortigern wrote: »

As others have said: you pay in £1000 per month but you DON'T have to leave it there.

As others have said you DONT need to put in £1000.

From the T&Cs:

or -
hold a
first direct
mortgage, credit card, personal loan, savings account (*excludes Regular Saver
Account), First Directory, or

As you can see just holding any savings account except the regular saver will exempt you from the charge. So you open the 1st account and set up your regular saver and then just apply for any old "esaver" or sucklike. Stick a £1 in and never worry again.

nat21luv

As an example,

I have Halifax reward account and a FD first account. To get the h.reward you need to deposit £750pm and the FD £1500 to qualify for £125(the terms from when I opened a few months ago) I am paid into my FD first account(say £1k), transfer £500 to FD esaver, transfer £500 back to FD first account. That's £1500 deposited in a month. Then transfer £750 over to Halifax reward to qualify for £5pm and if you need in back in FD account to cover bills, transfer it back! Everything is instant now, it's so easy.

fozziebeartoo

Thank you!!

Loving your thinking (and execution) of how to make the most of your money :j

nat21luv wrote: »

As an example,

I have Halifax reward account and a FD first account. To get the h.reward you need to deposit £750pm and the FD £1500 to qualify for £125(the terms from when I opened a few months ago) I am paid into my FD first account(say £1k), transfer £500 to FD esaver, transfer £500 back to FD first account. That's £1500 deposited in a month. Then transfer £750 over to Halifax reward to qualify for £5pm and if you need in back in FD account to cover bills, transfer it back! Everything is instant now, it's so easy.

nat21luv

I'm a sucker for free money

andrewthomas2008

Can you get the joining bonus of £100 if you are not using the switching facility.

I just want to open the current account, use the regular saver and put £1 into a savings account to avoid the £10 monthly fee.

So I wont be using their switching facility.

EarthBoy

andrewthomas2008 wrote: »

Can you get the joining bonus of £100 if you are not using the switching facility.
.

No.

The conditions are:

** 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 £125 to your account. This offer is only available for people who haven't previously held any account with first direct and is limited to one payment per joint relationship.