First Direct £125 to switch!

meer53

robrymond wrote: »

Sorry Lloyds, but yes I've used the switching service now before the deadline is up today. I put £1 into the account so it can be transferred. As part of the switching process it asked if I have a debit card on the account, I can only find an old one so I clicked no. I don't recall receiving a new one but the account has been dormant for some time.

If you have a debit card on the old account (whether you actually have the card or not) your switch will reject.

Call Lloyds to cancel any cards on the old account to prevent this.

Archi_Bald

meer53 wrote: »

If you have a debit card on the old account (whether you actually have the card or not) your switch will reject.

Can you explain this please? Surely a switch doesn't get rejected if you have a valid debit card? Do you mean the switch will be rejected if the debit card has expired?

robrymond

meer53 wrote: »

If you have a debit card on the old account (whether you actually have the card or not) your switch will reject.

Call Lloyds to cancel any cards on the old account to prevent this.

Ah...my bad. I presume it is too late to arrange that now?

Robshelf

In the process of signing up now, do you HAVE to close your old account if you use the switch service? I'd really rather keep my 123 account if possible.

YorkshireBoy

Robshelf wrote: »

In the process of signing up now, do you HAVE to close your old account if you use the switch service? I'd really rather keep my 123 account if possible.

You probably haven't read the switching T&Cs yet, but when you get round to it - before signing on the dotted line of course - be sure to read this bit...

Please note: As part of the Current Account Switch Service your old current account will close on the day that you choose to switch.


http://www2.firstdirect.com/1/2/banking/current-account

meer53

Archi_Bald wrote: »

Can you explain this please? Surely a switch doesn't get rejected if you have a valid debit card? Do you mean the switch will be rejected if the debit card has expired?

A switch will be rejected if you have a valid debit card and you have ticked "no" to the question "do you have a debit card on your old account ?" as the OP has done.

The switch is dependent on a valid card number being provided. Unless you don't have a valid card on the old account. Cards can show as live on old accounts even if you don't physically have one. And yes, it will reject if the card has expired as it's more than likely that a new card will have been generated on the expiry of the old one.

Simply saying, "i've not used or seen my card for years" doesn't mean you don't have a card on the account.

Robshelf

YorkshireBoy wrote: »

You probably haven't read the switching T&Cs yet, but when you get round to it - before signing on the dotted line of course - be sure to read this bit...

Well that's a nuisance! Didn't used to have to do that.
Gonna have to crunch some numbers now. May as well have the account, for the isa and regular saver, 123 is making £14 a month tho so will make that £125 back in no time (well 9 months!)

YorkshireBoy

Robshelf wrote: »

Gonna have to crunch some numbers now.

Why? Just open a sacrificial account somewhere (even Santander for speed/ease of opening) and switch that instead.

Robshelf

YorkshireBoy wrote: »

Why? Just open a sacrificial account somewhere (even Santander for speed/ease of opening) and switch that instead.

Now there's an idea! Why didn't I think of that!

THX

How long do transfers out of the 1st account to other current accounts take? I've just opened my 1st account. I transferred £1000 from my Nationwide FlexDirect to it without issue. However when I transferred it back the money still hasn't shown up. I know it says it can take up to two hours but between my Santander/Nationwide/BOS current accounts it's usually instantaneous.