Leaving First Direct Current Account payment....

steveyt_2

Hi....has anyone on here switched to First Direct to bag the switching bonus only to leave to bag the leaving 'bonus'if your not happy.

I've had this account for a while now but do not really use it so wondered if anyone had indeed got the money to 'leave' and what they said to do so??

Yes its probably playing the system but i bet there's plenty that have done it.


Thanks in advance....

SuperAllyB

Did you pay in £1000 per month for the first 6 months?

steveyt_2

Yes..... left a thousand pound in and fed it a thousand a month BUT i did take the thousand back out. So.... there isnt £7000 in but i thought just feeding it was enough

Am i correct in thinking this do you know?

mt99

Yes that's correct - you have to pay in £1000 but you can transfer it straight out again. Did you open a regular saver at 6% because if you leave before 12 months you won't get the 6%.?

enthusiasticsaver

I have the First Direct account and got the switching bonus and use the account for personal spends and access to the regular saver. Incidentally I do not pay in £1k per month but just keep £10 in their bonus saver so exempt from monthly fee.

I am not sure that not using the account is a valid reason for getting a switching out bonus. You would surely be called up on that as when you opened it you presumably thought it was what you needed. Surely it has to be that there is a genuine reason for not wanting it any more - ie First Direct have done something wrong? I reason your question is probably tongue in cheek and the account was opened purely for the switching bonuses but there is playing the system and being just downright greedy which I think is the category you fall into.

firsttimemover

I did, albeit a good few years ago.

They do need a "valid" reason for leaving, and they did put up a bit of resistance. I think it was just as Lloyds Vantage was released, so I said for my needs, I wasn't happy that it didn't pay in-credit interest and there are better accounts now to suit me.

I did switch all my direct debits and salary over to them though, so I'm not sure how they would view it if you weren't using as a main current account and just feeding money through it.

Opened one again now, for the 6% saver...

steveyt_2

Thanks for your help...... i was 'testing the water' so to speak. I have indeed got a regular saver at 6% so will be keeping it on for that reason. Then i shall be moving when the saver reaches the end of its term.

YorkshireBoy

steveyt wrote: »

Then i shall be moving when the saver reaches the end of its term.

So you've no need for another 6% AER regular saver when the current one ends then?

A_Flock_Of_Sheep

Yes I got the joining and leaving bonus from them. My excuse was that the internet banking wasn't very good. They didn't put up any resistance. Can't fleece them again - nor can I do the same to Halifax.

But I am in the process of the HSBC offer.

steveyt_2

.... internet banking wasnt any good ???... blimey and they was happy with that ? lol.... or did you point out specifics as to why ?

And Yorkshire boy.... if First Direct offer me another 6% account then of course i will stay but i assume my saver will go down to a paltry % at the end of the 12 month

Eco_Miser

steveyt wrote: »

And Yorkshire boy.... if First Direct offer me another 6% account then of course i will stay but i assume my saver will go down to a paltry % at the end of the 12 month

That saver will change to a normal saver at not much %, but you'll be able to open a new regular saver at whatever rate is on offer then, which is likely to be market-leading.