£100 leaving bonus for First Direct

YorkshireBoy

Steve_xx wrote: »

...they could easily stop it for new applicants if they thought people were milking it and going for no good reason other than to get it.

How many TSB Plus sole accounts do you have? If 2, do you feel guilty about that?...being as it was so over-subscribed they've now limited it to one sole account.

Did you manage to get 4 Nationwide FlexDirect accounts last year? And 5% AER on all of them for around 10-11 months? If you did, do you feel guilty about that?

Have you opened and (almost immediately) closed either of M&S and Co-op this year? Or are they still open with a zero balance waiting for the next switching offer, eg the YB/CB deals announced today? If you did, and they are, do you feel guilty about that?

TheTracker

Person A eats at a restaurant with "satisfaction guaranteed or your money back" and then claims the money back even though the meal was inoffensive. He thinks of justifying it just because Al Capone once had a Ham n Rye there.

Person B eats at the restaurant for the first time merely because they offer a free dessert to new customers, even though they'll never eat there again. Come to think of it, he may eat there again if he is in the neighbourhood. It wasn't bad.

Is one less moral? I would say yes. Others may not.

Steve_xx

YorkshireBoy wrote: »

How many TSB Plus sole accounts do you have? If 2, do you feel guilty about that?...being as it was so over-subscribed they've now limited it to one sole account.

Did you manage to get 4 Nationwide FlexDirect accounts last year? And 5% AER on all of them for around 10-11 months? If you did, do you feel guilty about that?

Have you opened and (almost immediately) closed either of M&S and Co-op this year? Or are they still open with a zero balance waiting for the next switching offer, eg the YB/CB deals announced today? If you did, and they are, do you feel guilty about that?

I take your point. But to do that with First Direct seems like taking things a bit too far. It's a personal view. I don't expect that everyone will share it.

apt

If you are able to maximise the 6% regular saver it and the £250 free overdraft are worth over £55 pa in additional interest for a basic rate taxpayer. I'd prefer that to a one-off payment of £100.

VladDracula

apt wrote: »

If you are able to maximise the 6% regular saver it and the £250 free overdraft are worth over £55 pa in additional interest for a basic rate taxpayer. I'd prefer that to a one-off payment of £100.

Am i not able to close the account for the £100 and then at some point in the future return to the bank for the 6% savers account? Or would they prevent me from returning?

Archi_Bald

I reckon it is safe to assume that their records will show that someone left for the £100. Whether they automatically turn down returners, I don't know, but I would if I were them.

fuzzgun19

What is the criteria for the 'leaving bonus'? Is it just you have to leave any time after 6 months?
Do you have to close all accounts with them?

Steve_xx

fuzzgun19 wrote: »

What is the criteria for the 'leaving bonus'? Is it just you have to leave any time after 6 months?
Do you have to close all accounts with them?

Here are the terms:

We're so certain that you'll enjoy our service better than anyone else's, if you're not happy banking with first direct after six months, and within twelve months, we'll help you move banks and give you £100 for your trouble.
You must have paid at least £1,000 a month into your bank account for six months and have not tried us before.
You'll need to have moved your banking using the Current Account Switch Service. Incentives are paid within 28 days of criteria being met.
You must contact us to claim the Service Guarantee prior to closing your account.
All your other accounts within first direct will need to be closed, including any fixed term products.

Archi_Bald

http://discover.firstdirect.com/1staccount

fuzzgun19

Thanks, looks like I won't be able to then, as I opened the regular saver for the 6%.