Advice Please.

smigger1979

Hello

I am currently considering opening a santander 123 account, I currently have a first direct account I opened a year ago.
If I'm reading about switching correctly my old account will be closed once I switch but would like to open another regular saver account with FD.
Can I do the switch without closing the FD (need all DDs to go to 123 to benefit from cashback)? Also will my FD account be valid with no DDs given I have had it a year.
I have a cash isa with FD and a regular save which is now full after a year if this makes a difference.
Hope this makes some kind of sense.

Archi_Bald

If you use a bank's switcher service now, they will close your old account. If you want to keep your old account, you can move the DD's and SOs yourself - it's not hard to do.

FDs don't require you to have any DDs but you need an "additional product" to get the £10 monthly charge waived. Uour ISA might qualify as one of these, but people generally just open a normal savings account there and put £1 into it since that satisfies the requirements for the waiver.
https://www1.firstdirect.com/1/2/rates-and-charges/charges