First Direct switch bonus drops to £50.

harz99

Noticed from logging in today that switch bonus is now £50, still £100 to leave though. Changed on Tuesday 23rd apparently. CS confirmed that those who applied prior to Tuesday will still get the £100 switch in.

PRAISETHESUN

Noticed this in this weeks MSE email. Kinda surprised that no-one made a huge song and dance about it considering how much MSE loves to promote FD - although they are probably trying to hope it slides under the radar since the switch incentive is one of the only reasons half of us even opened an account with them I'm sure.

[Deleted User]

The 5% Regular Saver is as good a reason to open a First Direct current account as a switch bonus at £50, or even £100.

harz99

PRAISETHESUN wrote: »

Noticed this in this weeks MSE email. Kinda surprised that no-one made a huge song and dance about it considering how much MSE loves to promote FD - although they are probably trying to hope it slides under the radar since the switch incentive is one of the only reasons half of us even opened an account with them I'm sure.

I never even noticed it hidden down there! The regular saver is great and at least you can set it up online unlike their other savings products which take a 15 minute phone call!!

verbify

I've been switching bank accounts to bag the bonuses. Switched RBS + natwest before deadlines had passed, was waiting for the payout and now I've missed 75 quid.

Anyone have any idea if these things get announced seasonally? E.g. do they announce switch bonuses before xmas, when people need to come up with cash?

PRAISETHESUN

harz99 wrote: »

I never even noticed it hidden down there! The regular saver is great and at least you can set it up online unlike their other savings products which take a 15 minute phone call!!

Yea it was in the small print under best bank accounts: "Great service + free £50: First Direct". Definitely must've been sneaky since there was no "ENDING SOON!" announcement like there usually is for when switch incentives are ending.

verbify wrote: »

I've been switching bank accounts to bag the bonuses. Switched RBS + natwest before deadlines had passed, was waiting for the payout and now I've missed 75 quid.

Anyone have any idea if these things get announced seasonally? E.g. do they announce switch bonuses before xmas, when people need to come up with cash?

There are usually a whole rush of them in Jan and some around EOFY - there might be other rushes, but usually its the banks trying to out-compete each other at random times of the year in my experience. Others might know more

OceanSound

harz99 wrote: »

I never even noticed it hidden down there! The regular saver is great and at least you can set it up online unlike their other savings products which take a 15 minute phone call!!

Applied online last year. However, this year, I wasn't taking any chances after seeing this:
https://forums.moneysavingexpert.com/discussion/59626394#62

Phoned instead. Took about 20-25 minutes. Probably slightly longer than if I had done it online but then chasing up if anything went wrong would have taken much longer.

born_again

Given the current customer service issues. No wonder they have dropped the (Bribe) to signup. As well as they could have reached the target for new customers.

Also offers start with most banks in the new year as that is when their new customer targets come into force.

Rich1976

PRAISETHESUN wrote: »

Noticed this in this weeks MSE email. Kinda surprised that no-one made a huge song and dance about it considering how much MSE loves to promote FD - although they are probably trying to hope it slides under the radar since the switch incentive is one of the only reasons half of us even opened an account with them I'm sure.

How do you know that half the people only opened an account for that reason?