First Direct 1st Account

Strawb585

Hi, New to this forum so be gentle with me!!

I'm looking at switching to the first direct account but am not sure if I'll qualify for the £125 switching bonus. I used to be an HSBC customer over twelve years ago but will they consider me a returning customer because they are part of the same group?
Also I will be depositing just over £1000 a month but over the course of the month with direct debits going out it will probably drop to about £400, will I be charged the £10 monthly fee for dropping below a thousand?

Thanks for your help.
Strawb

alanq

Strawb585 wrote: »

I'm looking at switching to the first direct account but am not sure if I'll qualify for the £125 switching bonus. I used to be an HSBC customer over twelve years ago but will they consider me a returning customer because they are part of the same group?

The offer says must not previously have been a First Direct customer. If it meant an HSBC group customer it would say so.

Strawb585 wrote: »

Also I will be depositing just over £1000 a month but over the course of the month with direct debits going out it will probably drop to about £400, will I be charged the £10 monthly fee for dropping below a thousand?

"Banking with first direct usually costs £10 a month, but you will not be charged this fee for the first six months from account opening, when 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 you hold a selected first direct additional product." (my emphasis)
http://discover.firstdirect.com/1staccount?WT.ac=FSDT_TAB_HOME_MSC1723

Buffyno52

Hi Strawb,
I'm not sure on the money to switch but I recently got a 1st account with them which I deposit over a thousand into each month (and spend it all) and I don't get charged the fee

Elefanchito

Hi Strawb

You will qualify for the £125, so long as you follow their rules and switch your banking to them and pay in the £1000 within the first 3 months. You can get more than that if you are recommended by an existing FD account holder and they agree to split their recommendation bonus with you. Check out the referral thread on the forum if you are interested.

I would agree with the other posters that the £10 a month fee will not be triggered so long as you pay in £1000 a month. You can also avoid the £10 monthly fee by opening up and Everyday E-Saver at the same time as opening up the current account and depositing £1 in it and leaving it there.

Strawb585

Thanks all for your help.
I wasn't aware about the referral bonus so thanks a lot for that-I will definitely check that out as my partner wants to switch as well.

Cheers
Strawb585:beer:

circuit

Strawb585 wrote: »

Thanks all for your help.
I wasn't aware about the referral bonus so thanks a lot for that-I will definitely check that out as my partner wants to switch as well.

Cheers
Strawb585:beer:

If you both switch, don't get a joint account or they will only pay one bonus between you (I'm speaking from experience!)