Rejected for First Direct

System

blindman wrote: »

Or they may say "Oh yes we have reviewed and you're in"

Surely worth a phone call for £125 switching bonus???

If they still say no then you have lost nothing apart from 5 mins on the phone.

You've not done this type of thing recently, I take it?!

I would guess (at least) 30 - 45 mins on the phone as they have to read out disclaimers plus the T&Cs to minimise mis-selling.

FD are generally looking for people with a good disposable income rather than asset rich, frugal people.

dreaming

I haven't had to phone FD - it was all opened online. I have had the email to say everything is set up, I am just waiting for the paperwork and then, according to email, I will have to ring to "get started", but as far as I am concerned I have been accepted. As mentioned before my income is less than £12k p.a. (around £945 a month) although my mortgage is paid off, so I probably consider myself to be asset rich, rather than having a huge disposable income - but then I have everything allocated into "pots" for car expenses/house expenses/birthdays and Christmas etc. And I consider myself to be frugal but not to any extremes.

phillw

EachPenny wrote: »

However HSBC do not require an income of £1750/month for the Advance account, they have a requirement for monthly pay-in (or equivalent) which is not the same thing. Neither does HSBC state that the £1750 has to be "after tax".

They do only quote a minimum requirement, but they have rejected if your income isn't high enough to meet the minimum requirement.