First Direct Closing £100 - Transfer or Close Account?

anotheruser

If I opened a First Direct account for £100, then close it between 6 and 12 months, they will pay another £100.
However if I choose to switch the account, does this qualify for the "closing" £100?

Thanks

apt

No it doesn't. You need to request closure and give a reason.

Archi_Bald

apt wrote: »

No it doesn't. You need to request closure and give a reason.

I can't see in the terms that you need to give a reason for leaving. As part of the "£100 exit" terms, you need to close the account, which a switch does.

Seeing that one of the terms is that you must have used the CASS on the way in, it would be entirely bizarre if they said you couldn't use CASS on the way out.

EarthBoy

Switching away from FD won't in itself trigger the £100 for leaving; you have to let them know in advance:

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

"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."

anotheruser

In that case, I guess I could give them notice I am closing it; they pay in the £100, then I switch it (hopefully to M&S).

colsten

anotheruser wrote: »

In that case, I guess I could give them notice I am closing it; they pay in the £100, then I switch it (hopefully to M&S).

I think what happens is

1. you call them to to claim the Service Guarantee
2. you switch
3. they send you a cheque after the switch has completed

System

First Direct just credited my account with £100 shortly before closure, no cheques involved.

I agree that you'd have to contact them and give a reason for 'not liking First Direct' prior to your switch out date.

colsten wrote: »

I think what happens is

1. you call them to to claim the Service Guarantee
2. you switch
3. they send you a cheque after the switch has completed

Ferrety_2

Sorry to reawaken an old thread, but my boyfriend is having massive problems with this. He sent a message asking for the service guarantee because he finds the 'security key' used with your mobile phone really awkward.

He didn't get a reply and arranged a switch to Halifax which was scheduled to go through Monday, but today he's found FD have just closed his account, with no notice, even though he told them he was switching on Monday!!

Now it's all up in the air and he doesn't know if all his direct debuit details have been lost or if Halifax can complete the switch. He also can't get any money out as First Direct have posted his balance to him as a cheque.

Needless to say he's fuming - terrible service from First Direct.

missis_amber

When you say "he didn't get a reply" did he call or email them?

Ferrety_2

Secure message on online banking. It was made very clear he was arranging a switch though and didn't want the account closed. He can't check the wording as his internet banking has been shut down!

Also, they've apparently given details to Halifax, so it looks like they also knew of the date of the switch and closed it early.

I don't understand why the guarantee says 'we'll help you switch' - only for them to leave people high and dry instead!

He doesn't know what to do about being left without any money for four days - the Halifax account is open, but obviously a cheque sent today will take at least a week to receive, pay in and clear

starM

I guess he sent secure message from internet banking. They should not have closed the account. As part of service guarantee account needs to be switched over. Terms and co ditions do not say reason needs to be provided but if u contact by phone I am sure they will ask for a reason.

Best to phone them up to claim £100 plus compensatiom for the problems you will now have setting up new direct debits.

MS