Switching away from 1st Direct - keep reg savings?

The_Reaper

I would like to switch my first direct account to HSBC to hoover up the £200.

I am about 6 months into paying £300 a month into the first direct regular savings.

If I switch away do I lose the regular savings interest, that is paid after 12 months of regular payments?

Thanks in advance

badger09

The_Reaper wrote: »

I would like to switch my first direct account to HSBC to hoover up the £200.

I am about 6 months into paying £300 a month into the first direct regular savings.

If I switch away do I lose the regular savings interest, that is paid after 12 months of regular payments?

Thanks in advance

T&Cs here

http://www1.firstdirect.com/1/2/savings-and-investments/savings/regular-saver-account?WT.ac=FSDT_TABS_HOME_FRS1000

Why not switch another account instead;)

The_Reaper

badger09 wrote: »

Why not switch another account instead;)

HSBC is the only one I havent had a bonus from yet.

Thanks!

The_Reaper

badger09 wrote: »

Why not switch another account instead;)

T+C confirms current account must remain open.

Dont have a another account can use at this time so will just have to wait.

18cc

You could try opening a TSB current account online from what I remember its instance and they give you the account number and sort code there and then

pay in a few pounds even a few days and then switch it

badger09

The_Reaper wrote: »

T+C confirms current account must remain open.

Dont have a another account can use at this time so will just have to wait.

Then why not open one:cool:

ValiantSon

As others have pointed out, you can just open another one with a different bank. Most will give you an instant decision and your debit card should be through within around 7 days. In that time you can deposit a little bit of money and set up a couple of standing orders to move money out of the account to another of your accounts (much faster easier option than sorting out direct debits). Once the debit card arrives you can apply to switch to HSBC. You should be ready to apply for a switch within a week.

Unless the regular saver is withdrawn as a future offer then I wouldn't consider switching your First Direct account as it gives you access to a new regular saver every year - when the current one matures you just open a new one and start again. For this reason alone, the First Direct account is one to keep.

18cc

You don't even need to wait for the debit card if you're in a real hurry as when it comes to filling out the switch form you just don't tick the box that says you have a debit card !

the last three switches I have done I didn't give my debit card details