First Direct account switching £100 will not be paid

pebx99

I recently applied to switch my bank account to First Direct, which advertises a £100 payment on completion of the transfer.


It turns out that my existing current account provider is not a member of the seven day switching scheme. This mean that the account could still be switched by a different method, and I was assured that I would receive the payment on completion.



Eventually, and after come prompting, a transfer date was agreed. First Direct said that they had had problems obtaining a list of my direct debits from my existing provider. They would monitor the situation and advise me. I heard nothing from them on the day of the transfer and had to contact them.



Apparently, I could still arrange the transfer if I wanted to but I would not qualify for the payment, as it only applied to switches made under the seven day switching scheme. I could make a complaint, but that was the policy. I had been given incorrect information in a previous phone call to them.



I also pointed out that I had direct debits which were due two days after the transfer date, so they obviously could not be changed in time. The operator agreed with me that that was probably the case.



My whole experience with First Direct has been a shambles; and so, I have decided to leave my account where it is, with my existing provider.


The point I want to make is that the £100 payment for account transfers only applies to seven day switching, and nowhere is that made clear. I was actually told I would receive the payment, when that was never the case.

Sparx

It might help if you told us the apparent bank that is not 'part of the 7 day switching service'. Otherwise how can anyone learn from your story?

YorkshireBoy

pebx99 wrote: »

The point I want to make is that the £100 payment for account transfers only applies to seven day switching, and nowhere is that made clear.

From the FD website...

switch your banking to us we'll give you £100 **



** Open a 1st Account, then transfer your banking and salary/income of at least £1,000 per month to your 1st Account using the Current Account Switch Service within three months of your account opening and we'll add £100 to your account.


http://www2.firstdirect.com/1/2/banking/current-account?WT.ac=FSDT_HM_BA1716

They couldn't make it any more "clear" could they?

I was actually told I would receive the payment, when that was never the case.

On that basis I'd have let them switch the account manually (if they could), or switched it myself, and made a complaint as advised. I suspect you'd have then received an ex-gratia £100 payment (and maybe an small extra amount for the inconvenience).


As it is, you've thrown your toys out of the pram and so will get nothing.

YorkshireBoy

Sparx wrote: »

It might help if you told us the apparent bank that is not 'part of the 7 day switching service'. Otherwise how can anyone learn from your story?

List of participating banks and building societies here...


http://www.simplerworld.co.uk/Pages/Banks.aspx#y


Just had a quick browse and N&P and Yorkshire Building Society seem to be missing so maybe it's one of those?

System

Someone walking off the street may not know the 'current account switch service' isn't a reference to their internal switch service nor that their previous provider needs to be part of the scheme.

To 'Treat Customers Fairly' as the FCA requires, First Direct should offer the old service to latter group of customers.

I recommend the OP complains asking for £100 for the inconvenience.

YorkshireBoy wrote: »

From the FD website...They couldn't make it any more "clear" could they?On that basis I'd have let them switch the account manually (if they could), or switched it myself, and made a complaint as advised. I suspect you'd have then received an ex-gratia £100 payment (and maybe an small extra amount for the inconvenience).


As it is, you've thrown your toys out of the pram and so will get nothing.

innovate

Heng_Leng wrote: »

Someone walking off the street may not know the 'current account switch service' isn't a reference to their internal switch service nor that their previous provider needs to be part of the scheme.

Firstly, somebody applying for a First Direct current account hasn't "walked off the street". They either filled in the application from on the web, or they rang up First Direct to apply. In both cases, the switching terms will be abundantly clear.

Secondly, if someone is unclear what the 'current account switch service' is, they should be asking what it is before they agree to the terms and conditions of First Direct.

However, once First Direct have accepted the application, it is no longer the applicant's concern how First Direct fulfill their switching service guarantee. So I suppose I am in violent agreement with you, lol.

Yawn

I'm wondering whether this is just a customer service agent inventing a reason out of thin air. When I switched to FirstDirect the seven-day switch guarantee didn't exist yet - would they really have changed their T&Cs to exclude those not part of the scheme, especially when the bonus is only paid after 3 months using the account any way? Why the 7-day rush?

Worse comes to worst, you could open an account elsewhere and then switch to First Direct?

meer53

Yawn wrote: »

I'm wondering whether this is just a customer service agent inventing a reason out of thin air. When I switched to FirstDirect the seven-day switch guarantee didn't exist yet - would they really have changed their T&Cs to exclude those not part of the scheme, especially when the bonus is only paid after 3 months using the account any way? Why the 7-day rush?

Worse comes to worst, you could open an account elsewhere and then switch to First Direct?

Some banks have chosen NOT to be part of the Current Account Switching Service. This would apply to anyone from other banks trying to switch accounts, not just First Direct customers.

If there are existing DD's on the old account, and the switch hasn't taken place, i can't see what the issue is with them being paid ?

Archi_Bald

Yawn wrote: »

I'm wondering whether this is just a customer service agent inventing a reason out of thin air. When I switched to FirstDirect the seven-day switch guarantee didn't exist yet - would they really have changed their T&Cs to exclude those not part of the scheme, especially when the bonus is only paid after 3 months using the account any way? Why the 7-day rush?

Worse comes to worst, you could open an account elsewhere and then switch to First Direct?

The bonus isn't only paid after you have used the account for 3 months. Many people have had it paid withing weeks, after they had fulfilled the requirements for the bonus.

There are plenty of reasons I can think of why they changed their T&Cs, such as
- they couldn't possibly not be part of the 7-day switch guarantee
- they want to keep things simple, so they just offer the 7-day switch now
- like all banks, they love to nick customers from their competitors. Thus the new 7-day switch service with the automatic closure of the old account suits them perfectly

HHarry

When I applied to open a FD account I was told that a 'manual' switch (not using the 7 day service) wouldn't qualify for the bonus, so it sounds like someone made a mistake and gave you the wrong info.
As others have said, if the switch had completed and you had made a complaint, you may well have been offered a goodwill gesture.