Switch Current Account Query

decrement

Hi

I want to switch my Natwest current account to First Direct to get their £125 offer and just had a few queries:

1) It says you need to pay in min £1k salary each month, does this mean the money has to come from your employer or can you just transfer £1k each month from an external account?

2) I have a cash ISA with Natwest, will this be closed/affected by the switch?

Cheers

liamcov

Any external funding is ok so just send from another account.

ISA will stay open unless linked with the account eg. Santander Loyalty 123 ISA.

decrement

Thanks for that, its really not clear from their wording as they keep referring to salary.

For the ISA how do i find out if its linked? Its an E-ISA.

Archi_Bald

decrement wrote: »

For the ISA how do i find out if its linked? Its an E-ISA.

What do the T&Cs say, does the ISA require you having a current account with your ISA provider? You could also ask your ISA provider.

decrement

Read through the t&c, doesn't mention anything. I'm sure at the time of opening it says you had to have a current account as it was for existing customers only.

I'll give them a call and see what they say.

rb10

decrement wrote: »

Read through the t&c, doesn't mention anything. I'm sure at the time of opening it says you had to have a current account as it was for existing customers only.

The T&Cs don't specify that you need a current account, so you are free to transfer away and the ISA will not be impacted.

You won't necessarily get the correct information over the phone.