What now?

babe-ruth

Hi all,

This time last year I decided to start opening bank accounts and switching to earn the incentives. First Direct account was opened along with the 6% regular saver.

My question is, do I close the current and regular saver now that the year is up? ( I only use it for the reg saver) As I understand it if I carry on with the account but do not pay anything in I will now be charged.

Thanks

YorkshireBoy

babe-ruth wrote: »

My question is, do I close the current and regular saver now that the year is up? ( I only use it for the reg saver)

Why not start another 6% regular saver with them? Unless either you can't afford to?...or perhaps you've found an account paying more? If you have I'd like to know where.

As I understand it if I carry on with the account but do not pay anything in I will now be charged.

Your understanding is wrong. To see why it's wrong, you should read page 6 of the current T&Cs.

babe-ruth

Thanks Yorkshire boy, I didn't know I could open another reg saver with them. My experience In the past has been once the year is up that the 6% ends and the account reverts to a normal saving account.

I haven't read the T&Cs since opening the account but from memory there was a monthly charge on the current account unless I paid in £1000 per month OR had an additional account with them ie reg saver to which I have been paying 300 pm.

So do I just request that the reg saver continues at 6% or apply to open another one?

changearound

You need to apply to open a new Regular Saver.

You're old RS should have been converted to a bog standard First Direct savings account. Keep £1 in this account and you won't have to pay the monthly fee on your FD current account.

babe-ruth

Thanks for your reply changearound

babe-ruth

For a minute there I thought you were telling me that I'm old!! My initials are RS :rotfl:

changearound

Oops. Clearly I'm homophonically challenged. You're = your.