Top Bank Accounts Discussion Area

whizzybee

I switched from Halifax to First Direct at the beginning of November. I set up my current account online with FD then phoned to set up all the security details (be prepared to sweat it out, there is A LOT of security!) and then went about the switching process. I set my date, was asked to read the documents they sent and explained things several times but of course, to make sure it was what I wanted to do. The switch was set, Halifax let me know via a letter and I sat back and relaxed (sort of).

Everything went smoothly. With one tiny snag. The DD I set up to pay my credit card showed my account to have quite a lot of zeros before it. Which could have been a nightmare seeing as it was supposed to go out the day after I switched. Luckily I had already paid some of it off prior so no charges. All my other DDs have gone smoothly.

I paid in the requisite amount for the bonus and four days later received it. Have to say top notch service from FD, quick answering the phones, things explained clearly, very secure. Just the tiny snag on the credit card DD but otherwise cannot fault the service.

NoMoneyHoney_2

I'm looking to switch bank accounts because I can't get out of my overdraft! I have come close but job stuff has knocked me back. I'm in a much better position to be free of it now but the charges I'm getting aren't helping!

I currently have a Halifax Ultimate Reward Account and I am thinking of switching to Nationwide. I won't be paying in £1000 a month but I want the interest free overdraft. I want to pay off my Halifax overdraft with the Nationwide one and then stick with that. Is this the best account for me? Want to be certain before I switch. x

colsten

NoMoneyHoney wrote: »

I'm looking to switch bank accounts because I can't get out of my overdraft! I have come close but job stuff has knocked me back. I'm in a much better position to be free of it now but the charges I'm getting aren't helping!

I currently have a Halifax Ultimate Reward Account and I am thinking of switching to Nationwide. I won't be paying in £1000 a month but I want the interest free overdraft. I want to pay off my Halifax overdraft with the Nationwide one and then stick with that. Is this the best account for me? Want to be certain before I switch. x

If you use the current account switch service (CASS), your Halifax will be closed and your overdraft will need to be repaid immediately. Nationwide may or may not offer you an overdraft of the size you have at Halifax, so you could end up in even deeper trouble as Halifax would want to see repayment of the outstanding amount immediately.

You can apply for a FlexDirect without using CASS, and see whether they offer you any overdraft. If they do, don't use it without depositing major money into the FlexDirect each month as they will just call the OD in in one go before long.

May be ask on the Debt Free Wannabee forum for more help.

dickie4882

Switching is great fun, I have decided to have a spell of switching my wifes and my bank acounts to get enough to pay a few months mortgage while my wife is on maternity. Switch 1 both to halifax, 7 days switch and £100 paid in the day after, i then switched to coop and my wifes to first direct another £225, my wife doesnt like speaking to people on the phone so she is staying with 1st direct for 6 months then will switch to another account getting a switch incentive and £100 for leaving 1st, i have switched to clydesdale now for £150 plus i got an american express credit card and put £2000 over it to get £100's worth of nectar points so far £675 (not including 1st direct switch out and new acc incentive) and counting next stop m and s for £100 of vouchers. Not had a missed payment yet. Also if you swith through T cashback you can get even more £. The banks have no morals so i have no problem with free money from them :rotfl::rotfl:

ashmoore

Hi,
I have a HSBC account, which I do not want to switch for several reasons. However I would like to open an account with First Direct and get the £125 bonus.
Can I open an account with a different random bank, then apply to "switch" that to First Direct, without ever having used the first new account?
Thanks!

Steve_xx

ashmoore wrote: »

Hi,
I have a HSBC account, which I do not want to switch for several reasons. However I would like to open an account with First Direct and get the £125 bonus.
Can I open an account with a different random bank, then apply to "switch" that to First Direct, without ever having used the first new account?
Thanks!

Yes, it is possible to do that.

robotrobo

ashmoore wrote: »

Hi,
I have a HSBC account, which I do not want to switch for several reasons. However I would like to open an account with First Direct and get the £125 bonus.
Can I open an account with a different random bank, then apply to "switch" that to First Direct, without ever having used the first new account?
Thanks!

hi ash.

I got the £125 from them without switching another account with them.

robotrobo

robotrobo wrote: »

hi ash.

I got the £125 from them without switching another account with them.

So didmy wife

grumbler

FD are very clear about having to switch your account to get £125.
What's the point in trying your luck then?

colsten

They used to pay the joining bonus without the need to switch but since the CASS was introduced in autumn 2013, the T&Cs have changed to require the use of the FD Switching Service. It would be foolish to ignore the T&Cs and still expect the £125.