First direct savings account

sjh101

I have a savings account with first direct. I want to pay the savings I've saved into a separate bank account with Natwest. I assumed it would be as simple as setting up payment details of where I wanted the money to go. It isn't.........when I go to make payment it says ring this number. I refuse to do that as it's a premium line, so I sent a private message asking why I can't set up a payment method online and they didn't give me an answer only, we can set one up for you if you provide us with the relevant details......sort code, account number etc.

Is this normal that you have to get in contact with first direct if you want to do something as simple as set a payment up?

Not too impressed so far.

reehsetin

I'm not too sure about your specific issue but if it helps I use this landline no to contact them and they've always been great on the phone
01132345678

YorkshireBoy

You must have a current account with them too (as I don't believe they have any decent standalone savings accounts)?


Can't you transfer to the current account, and send it to NatWest from there?

sjh101

I don't have a current account with them. Just a savings. I might as well just send them the details and they can set it up. I just wanted to know if it was normal.

It's over secure messaging within the website so it should all be secure.

dr_adidas01

YorkshireBoy wrote: »

You must have a current account with them too (as I don't believe they have any decent standalone savings accounts)?


Can't you transfer to the current account, and send it to NatWest from there?

This is not true you don't have to have a current account with them at all to have access to the everyday e-saver. It just means that if you don't have a current account with them then you have to call them to make transfers to an external current account of your choice.

YorkshireBoy

dr_adidas01 wrote: »

This is not true you don't have to have a current account with them at all to have access to the everyday e-saver.

I didn't say you did!

The inference (I even explained it, but here it is again) was...

Why would you keep money in a savings account with FD when they've never, to my knowledge, and with the exception of the regular saver (for which you do need a current account), paid a decent rate on "savings accounts"?

ColdIron

Don't forget that FD are primarily a telephone bank with a shocking online offering so it's not unreasonable to expect to phone them considering you have no current account with normal transfer options. Their T&Cs do say -

Instant withdrawals can be made by transfer to another first direct account in your name, over the phone, or via Internet Banking. Transfers to other banks may take longer.

Their savings products are right up there with the worst available so I'd phone them on the cheap number above and move your cash out sharpish

Hominu

sjh101 wrote: »

I have a savings account with first direct. I want to pay the savings I've saved into a separate bank account with Natwest. I assumed it would be as simple as setting up payment details of where I wanted the money to go. It isn't.........when I go to make payment it says ring this number.

I remember if you made a payment in excess of a certain amount to an individual they asked you to ring a number so they could give you sales speak and try and get you to stay (by offering you a 1.1% savings account, telling you how secure they are financially, never accepted hand outs, etc). You could ignore it and proceed anyway, but how to do that wasn't immediately obvious. I don't know if they still do it.

ColdIron wrote: »

Their savings products are right up there with the worst available so I'd phone them on the cheap number above and move your cash out sharpish

I don't know about that. I'm still getting 2% with them until the end of this month I think (or was it March?), and their regular saver is quite good.

ColdIron

The Regular Saver is excellent but the 2 easy access savers on offer now are 0.4% and 0.25% which is poor even by today's standards

Hominu

ColdIron wrote: »

The Regular Saver is excellent but the 2 easy access savers on offer now are 0.4% and 0.25% which is poor even by today's standards

For new accounts, yes, but for existing accounts you can get still get 2% (1.98% gross) on the Everyday Savings Account. I remember moving all my funds out when the rate dropped, then moved them back when elsewhere dropped under 2%. Sadly FD will be dropping the rate to 0.5% within the next few months so I'll be moving it back out again!

Their "bonus savings account" is a joke however. You must keep a balance of at least £3,000 and it you make no withdrawals you get a grand AER of 0.2%