Opening FD to Switch and Ditch

Herbalus

Stephen_C. wrote: »

I have more than £1000/month as I am on placement. It's a bit of a grey area as to my status, as I am both an enrolled student and in full-time work.

Then you may have more chance than I thought. Note that you do need direct debits/standing orders on your account to switch it, and if you get caught up in this new switching process from 16 Sept you will be forced to close your old account.

And as for the earlier assumptions about FD paying out £100 for leaving willy-nilly, this is from their website:

***We're so sure you're going to enjoy banking with first direct and using your new 1st Account. If you're not happy with our service after six months, we'll help you move banks and give you £100 for any inconvenience.

That would suggest to me that you'd need a reason to leave for the £100. If you can't say why you have been inconvenienced, I doubt you'd get the £100. And I'd also suggest it would have to be a valid inconvenience, such as a direct debit failure, rather than not liking internet banking, for example.

Stephen_C.

Herbalus wrote: »

Then you may have more chance than I thought. Note that you do need direct debits/standing orders on your account to switch it, and if you get caught up in this new switching process from 16 Sept you will be forced to close your old account.

And as for the earlier assumptions about FD paying out £100 for leaving willy-nilly, this is from their website:



That would suggest to me that you'd need a reason to leave for the £100. If you can't say why you have been inconvenienced, I doubt you'd get the £100. And I'd also suggest it would have to be a valid inconvenience, such as a direct debit failure, rather than not liking internet banking, for example.

That's fair enough. £125 for nothing is still a good deal!

I will read up on the account and return with any unanswered questions. Regarding the new switching process, I presume you're saying I should apply soon?

iAMaLONDONER

Stephen_C. wrote: »

That's fair enough. £125 for nothing is still a good deal!

I will read up on the account and return with any unanswered questions. Regarding the new switching process, I presume you're saying I should apply soon?

Did you open the FD account?

[Deleted User]

How about sick of paying to call 0845 numbers on my mobile and waiting 20 mins for someone to answer.

Archi_Bald

[quote=[Deleted User];64432833]How about sick of paying to call 0845 numbers on my mobile and waiting 20 mins for someone to answer.[/QUOTE]

All banks have landline numbers for CS. They are usually printed on the back of your debit card but you can also find them on saynoto870.com, and/or the bank's website.

As to having to wait for 20 minutes for a phone to be answered: where does this happen?

In my experience, FD's CS are no faster in resolving a query than any other bank. Only last Friday, I was kept on muzzak forever when I had a query about an ISA transfer. They eventually resolved the issue, and promised to credit my account with a small amount of compensation on the day. I am still waiting for that credit. Just the same shoddy service like you can get at other banks.

Stephen_C.

iAMaLONDONER wrote: »

Did you open the FD account?

Nope, took a less risky* option and opened a Nationwide FlexDirect account for 5% interest. Now saving my credit report for an Amex application later in the year.

*risk in terms of likelihood of being approved at the time.