Closing Bank Accounts

Scrumble

Hi all,

I've got a quick question related to closing bank accounts. I've recently become a First Direct customer but the entire experience has been so mind-bendingly awful that I just want to be done with them and their platypus army. I'm so displeased with their uselessness that I'm not even bothered about the switching bonus. Frankly, I'd rather invest with Philip Green than use their services again.

If it were up to me, I'd immediately close the account and go to a high street bank where at least I could go shout at someone. However, I'm a bit concerned about the effect on my credit score. It's all pretty clean but I don't want to chop and change financial arrangements if it's going to impact future credit applications and such. It's only been active for a very short period (Weeks) and I'm worried that's going set off warning klaxons in the event of any future credit transactions.

Does anyone have any thoughts about how to deal with this situation?

Cheers,

colsten

Not a problem, you can close it, or better still switch it, whenever you like. Closing an account has only a marginal effect on your credit file, if any at all.

I'd take a deep breather if I were you and time it so I could take the leaving bonus on the way out.

On a general point, shouting at anyone won't help much.

Scrumble

Thanks for the feedback. I'm never sure how credit scores are arrived at. I have a constant fear that switching toothpaste brands or leaving for work five minutes earlier might result in my credit cards being cancelled or something.

On a general point, shouting at anyone won't help much.

Heh, I dunno. It makes me feel a whole lot better sometimes...!

MrLolly

What a lovely person you are

eskbanker

Scrumble wrote: »

I'm never sure how credit scores are arrived at. I have a constant fear that switching toothpaste brands or leaving for work five minutes earlier might result in my credit cards being cancelled or something.

I diagnose a case of extreme Credit Rating Agency Paranoia, worth reading up on what CRAs do and don't know about at http://www.moneysavingexpert.com/loans/credit-rating-credit-score

andrewmp

Everyone raves about First Direct, not sure why from my experience. They take a while to answer their phone, their online banking is awful.

The £250 bonus was nice though.

badger09

@ Scrumble

If you can cope with your irritation for a while longer, I would hit FD in the only place it hurts.

In other words, comply with the switching in T&C and get the bonus, then as soon as possible, switch away, claiming the leaving bonus;)

http://www1.firstdirect.com/1/2/banking/current-account?WT.ac=FSDT_Onsite_PWS_CUR_Acquisition_Don%27tSwitch%C2%A3100_DR_HomePage_HPPrimaryProsp_CUR2361

Ballard

andrewmp wrote: »

Everyone raves about First Direct, not sure why from my experience. They take a while to answer their phone, their online banking is awful.

I don't get the problem with First Direct's online banking as it does everything that I want. I use my iPhone to log on almost all of the time but that's the easiest logging on possible as they use fingerprint recognition.

Once in I can look at the movement on all of my accounts and make payments. I'm not sure what else I want.

I very rarely call them so can't really comment on that aspect.

typistretired

I've been with first direct for over 20 years and have always found them courteous and efficient. If you are unhappy about something, send them a secure message when logged in and their complaints department will contact you to resolve any issues you have with your account.

System

'Dear First Direct (HSBC Bank plc), your telephone service is highly variable and your internet banking is from the 90's, can you fix this please'.

P.S. My Mexican cousins said you provide excellent money laundering services xx

typistretired wrote: »

I've been with first direct for over 20 years and have always found them courteous and efficient. If you are unhappy about something, send them a secure message when logged in and their complaints department will contact you to resolve any issues you have with your account.

andrewmp

Ballard wrote: »

I don't get the problem with First Direct's online banking as it does everything that I want. I use my iPhone to log on almost all of the time but that's the easiest logging on possible as they use fingerprint recognition.

Once in I can look at the movement on all of my accounts and make payments. I'm not sure what else I want.

I very rarely call them so can't really comment on that aspect.

It's pretty old fashioned. I only joined for the bonus so would have left regardless.