First Direct Reg Saver

YorkshireBoy

Milarky wrote: »

Point is, I haven't found that earlier condition that I mentioned and I wondered if anyone else could spot it?

Condition 33.7 is possibly the one you're looking for, but that only applies if they've closed your 1st Account for a reason not covered by condition 33.5.1 or 33.5.2

http://www1.firstdirect.com/content_static/pdf/account_terms_0114.pdf


But that begs the question...how would you fund the Reg Saver if you didn't have a 1st Account? They'd have to provide a sort code and account number and allow you to pay in from a non-FD account.

Archi_Bald

YorkshireBoy wrote: »

But that begs the question...how would you fund the Reg Saver if you didn't have a 1st Account? They'd have to provide a sort code and account number and allow you to pay in from a non-FD account.

You must already hold a first direct 1st Account to apply for a Savings Account.

http://www1.firstdirect.com/1/2/savings/regular-savings-account

YorkshireBoy

@ Archi

Milarky would have met that condition when the regular saver was opened. The 'concern' is will they be allowed to keep the regular saver if the 1st Account is closed...and my question was "how will it be funded?", bearing in mind the payment has to come from a 1st Account according to the T&Cs. Condition 33.7 seems to indicate there's a workaround (under certain conditions).

Perhaps I should have said "how will you continue to fund the account?"

Milarky

YorkshireBoy wrote: »

@ Archi

Milarky would have met that condition when the regular saver was opened. The 'concern' is will they be allowed to keep the regular saver if the 1st Account is closed...and my question was "how will it be funded?", bearing in mind the payment has to come from a 1st Account according to the T&Cs. Condition 33.7 seems to indicate there's a workaround (under certain conditions).

Perhaps I should have said "how will you continue to fund the account?"

Thanks as usual for the meticulous help with the dragnet (I'd only just missed it!)

As to your perceptive question: when they closed my other accounts the last time (two months notice given and therefore under 33.7) there were still three payments of the original 12 to make. Two were taken as usual during the winding down to closure of the First Account and I inquired. I was told to try and fund the account through external account for the 12th date and tried to do this but it was automatically kicked back. I therefore 'complained' about the inability to fund the account to term and instead they required no 12th payment after all but paid the full interest amount anyway (£156 when it was 8%)