First Direct switching offer - close immediately?

thrope

I just wanted to check I understand the First Direct switching offer correctly.


I have an unused old account. If I open First Direct account, switch this unused account, and pay in £1001, then in the first month I should get £150 bonus.

Can I then close the First Direct account immediately?

I know there is an extra £100 you can get after 6 months, but I don't want to keep feeding money in to keep the account free.

colsten

You do not need to "keep feeding money in to keep the account free" - nobody needs to pay for their FD account as FD have had a waiver clause for at least 10 years. You just need one of their savings accounts (not the Regular Saver). Details on their website.

Also, closing a perfectly good current account seems a shame - - if you don't want it, at least switch it for a bonus to somewhere else.