Do I need to close existing account to get £200 First Direct joining fee?

bp5678

I'm currently with Nationwide (FlexEirect account).

I was loooking at joining First Direct for the £200 joining sign up bonus.

I was considering keeping my Nationwide account and sending across the money to First Direct account to meet the minimum pay in each month.

However I wasn't sure if I needed to close my existing Nationwide account and then move to First Direct to get this £200 signing up bonus?

alanq

Where did you read about the offer? What did it say?

The First Direct website and MSE articles don't refer to a £200 payment. Instead they refer to a welcome gift worth up to £199 if you use the current account switching service.

The MSE article does mention £200 cash from HSBC but again you would need to use the CASS.

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/

https://www2.firstdirect.com/1/2/banking/current-account

BoGoF

Yes......otherwise you are not switching

YorkshireBoy

bp5678 wrote: »

I'm currently with Nationwide (FlexEirect account).

I was loooking at joining First Direct for the £200 joining sign up bonus.

I was considering keeping my Nationwide account and sending across the money to First Direct account to meet the minimum pay in each month.

However I wasn't sure if I needed to close my existing Nationwide account and then move to First Direct to get this £200 signing up bonus?

Open another current account somewhere (even Nationwide!), dump a couple of quid in it, wait for the debit card, and then switch that one instead.

bp5678

So how do some MSE people have multiple bank accounts to take advantage of all of the signing up perks?

bp5678

Sorry I meant HSBC not First Direct !!!

YorkshireBoy

bp5678 wrote: »

So how do some MSE people have multiple bank accounts to take advantage of all of the signing up perks?

Why not read the post immediately before yours?

meer53

bp5678 wrote: »

So how do some MSE people have multiple bank accounts to take advantage of all of the signing up perks?

Because they open them ?

AndyPK

People open bank accounts that have no benefits. And then use them to switch to another account that is offering a SWITCHING bonus.

or some of us have so many current accounts, that no longer have the perks when they signed up, they will use one of them.

Personally I wouldn't waste too much effort with First Direct. There are easier ways to get £200 that dealing with them!