FIRST DIRECT - £125 credit for opening account ?

stylus360

Hi all

Just opened one if these and looking at getting the £125.

Has anyone else done this ?

Do you HAVE to use their dedicated switching service ?

I would prefer to do it myself as I have two sources of income, both over £1000 month BUT only want to use one source and keep my current Nationwide account open.

Cheers

Archi_Bald

stylus360 wrote: »

Hi all

Has anyone else done this ?

yes, lots and lots of people

stylus360 wrote: »

Do you HAVE to use their dedicated switching service ?

yes

stylus360 wrote: »

I would prefer to do it myself as I have two sources of income, both over £1000 month BUT only want to use one source and keep my current Nationwide account open.

the new switcher service,introduced last week, will close your old account.

This information is all on the First Direct website.

stylus360

So it looks like I will have to open another account that I don't mind closing.
Think I have a Santander one :-)

Is it only the credit of £1000 a month you have to put in ?

Does there have to be any direct debits ??

How long dies it take for them to credit your account ???

Cheers.

Hominu

It has to be exactly as the terms and conditions on the First Direct website state - do you really expect people to keep finding out the information for you?

stylus360

I have read it but after some reassurance of here, that's all.

It states ALL I have to do is pay in over £1000 month and use their dedicated switching team, BUT I have also read there is a £10 month fee for this account unless you have an average balance of £1000 month.

Gromitt

Correct, but what First Direct say overrides what anyone on here says.

https://www2.firstdirect.com/1/2/banking/current-account

Eligibility

Banking with first direct usually costs £10 a month, but we'll waive the fee if you

pay in at least £1,000 to your 1st Account each month or

maintain an average monthly 1st Account balance of £1,000 or

hold a selected first direct additional product.

For new customers we waive the fee for your first six months. Take a look at our interest rates and charges section for details of the additional products.

That 'additional product' can be an eSavings account with 10p in it, although most people seem to be prefer £1.

stylus360

Thanks Grommit.

Much appreciated.

fluffy123

Out of interest, do you have to specify a date in the application process? I've just done the application online and had no option to a) Input a date I want to switch and b) Indicate that I want them to use the switching service.

stylus360

You do not have to specify a date but must use their switching service within 3 months if opening the account.

I think......