Switching Old Current A/c to First Direct

andydakin

I have an old dormant Nationwide current account, zero balance, no DDs etc. Is it worth "switching" it to First Direct to claim their £125 reward? I can't see anywhere in their Ts & Cs that the account I'm switching from has to have DDs although it does state in the blurb "To get the £125 cash offer you need to open a 1st Account, switch your everyday banking to us". Has anyone had success in claiming a reward from an empty account? (I know I could move a couple of DDs to the account if I need to).

badger09

andydakin wrote: »

I have an old dormant Nationwide current account, zero balance, no DDs etc. Is it worth "switching" it to First Direct to claim their £125 reward? I can't see anywhere in their Ts & Cs that the account I'm switching from has to have DDs although it does state in the blurb "To get the £125 cash offer you need to open a 1st Account, switch your everyday banking to us". Has anyone had success in claiming a reward from an empty account? (I know I could move a couple of DDs to the account if I need to).

If the switch incentive T&Cs don't specify the need for DDs, then I wouldn't bother setting them up. However, I would put some money into the account, so First Direct actually have something to switch;)

andydakin

Fair point.

No_6

switched accounts with ZERO in them....no bother....and no dd's
they just want a account number and sort code
an may be a debit card number...depends

no probs,,,do what ever....read what you need.

colsten

badger09 wrote: »

If the switch incentive T&Cs don't specify the need for DDs, then I wouldn't bother setting them up. However, I would put some money into the account, so First Direct actually have something to switch;)

I have switched accounts with no money in, no DDs, no SOs, before. Mainly to actually close the old account as that was a lot less hassle than asking the old bank to close the account. None of the target banks has ever asked questions. I don't think I ever used an empty accounts for a switching bonus - it's so long ago that I still qualified for any switching bonus that I can't remember now. Most of the switching offers I did required DDs or SOs, anyway.

No_6

will have a look ?
as you have only been here for 4 yrs

Brewer20

Didn't you read the terms of the switch properly?

No DD's required but you need to pay in the below for £100 switch reward. It doesn't say however that you have to leave it in there.


"To get the £100 cash offer you need to open a 1st Account, switch your everyday banking to us using the Current Account Switch Service and pay in at least £1,000 within three months of opening the account.
This offer is limited to one payment per customer or joint account, and you'll get the money within 28 days of all criteria being met"

PRAISETHESUN

As has been mentioned, you don't need any DDs/SOs/balance on the account being switched to qualify for FD's bonus, although there are some other conditions you need to adhere to. As a general rule of thumb, it's a good idea to keep a few quid in the account being switched so you can track the switch

TiredDonna

I have started applying for this switch but it wants a lot of my employer's details. Does anyone know why? My reluctance to do this is stopping me from making the switch.

Brewer20

Unless you've already made a switch to Halifax recently then they are a far better bet than FD or HSBC. They ask less questions and definately not about your employer. Of course FD have a good service rep and the regular saver, if it's quick easier money you're after look elsewhere.

eskbanker

TiredDonna wrote: »

I have started applying for this switch but it wants a lot of my employer's details. Does anyone know why? My reluctance to do this is stopping me from making the switch.

They have been known to validate the employment status of applicants by phoning the employer via their registered office number - I'm pretty sure they did this when I signed up with them a number of years ago.

https://forums.moneysavingexpert.com/discussion/5894670/first-direct-employment-verification