first direct account

EarthBoy

Seeing as a requirement of the new switching service is that your old account must be closed, FD may be assuming that there were probably some direct debits and standing orders attached to it. If so, they will be transferred to FD.

allikerr002

I'm in the process of switching to FD too, though didn't realise until I got the paperwork that I had to close my old account. Not sure I want to go through with it now as I have a loan with my old bank (RBS) and think they may change the interest rate if I leave them wanted the £125 as well lol, gutted.

grumbler

allikerr002 wrote: »

...I have a loan with my old bank (RBS) and think they may change the interest rate if I leave them

It's better to check the loan agreement than 'think'.
I think that fixed or linked interst rates are more common for loans than variable ones.

rb10

allikerr002 wrote: »

Not sure I want to go through with it now as I have a loan with my old bank (RBS) and think they may change the interest rate if I leave them wanted the £125 as well lol, gutted.

I would be surprised if they changed the interest rate on the loan.

You could always switch your new First Direct account to Halifax - this is a better long-term deal than the First Direct one anyway, as you get £100 instantly plus £5 per month.