Regular Savings Accounts: The Best Currently Available List!

schiff

Deleted_User wrote: »

Yes, that is what has happened, I think. Do I have a legal obligation to tell VM, or just a moral obligation to do so? Presumably they will sometime realise the error when things don't balance their end and seek to recover from me.

A moral obligation, I think. You never know, your gesture may have Virgin looking for some way to reward you. Not with a Man Utd pie and a coke though, I hope

[Deleted User]

AirlieBird wrote: »

Is there anything showing in the uncleared transactions tab?

Yes, as follows:-

Payment to - {redacted} - £3,582.27

[Deleted User]

And last entry under cleared transactions tab is as follows:-

19/10/2017 INTEREST AT TNFR + £35.93 £3,546.44

stoozie1

ColdIron wrote: »

You don't need to earn £1,000 to meet the 1st Account conditions, you could just move it in and straight back out, or even better open an ordinary savings account and pop a pound in it. Job done

Account Fees

There is no cost for the first six months. After that you can avoid paying the £10 monthly account fee by:

• paying at least £1,000 into the account every month
• or maintaining an average monthly balance of £1,000
• or also having a mortgage, credit card, Personal Loan, savings (except Regular Saver), First Directory or Home insurance with us.

Update after phoning First Direct, the savings account only prevents you from paying the £10 monthly fee, it doesn't constitute a way of changing the lower earnings threshold (which I don't meet).

I thought I'd post in case it saves anyone else ringing.

steve65e

stoozie1 wrote: »

Update after phoning First Direct, the savings account only prevents you from paying the £10 monthly fee, it doesn't constitute a way of changing the lower earnings threshold (which I don't meet).

I thought I'd post in case it saves anyone else ringing.

How do you know there is a lower earnings threshold which you don't meet? Did they tell you that when you applied by phone? I can't get an FD account either but they've never told me why.

glider3560

steve65e wrote: »

How do you know there is a lower earnings threshold which you don't meet? Did they tell you that when you applied by phone? I can't get an FD account either but they've never told me why.

I've not seen any official confirmation, but I've heard that FD won't consider applicants with an annual income under £25,000.

mhoc

ColdIron wrote: »

You don't need to earn £1,000 to meet the 1st Account conditions, you could just move it in and straight back out, or even better open an ordinary savings account and pop a pound in it. Job done

Account Fees

There is no cost for the first six months. After that you can avoid paying the £10 monthly account fee by:

• paying at least £1,000 into the account every month
• or maintaining an average monthly balance of £1,000
• or also having a mortgage, credit card, Personal Loan, savings (except Regular Saver), First Directory or Home insurance with us.

its the "or also" bit that worries me.

I've always just put the £1000 in per month and then boomeranged it out again and then later put in £300 for the regular savings (as the Regular savings date has gradually crept forward in the month)
After my last regular saver matured and the contents went into the normal FD saver I withdrew the contents but kept it open as a justincase.
So can I just put £1 in the normal savings and not do the £1000 boomerang in and out each month?

ColdIron

mhoc wrote: »

So can I just put £1 in the normal savings and not do the £1000 boomerang in and out each month?

That's what I've been doing since 2012. I keep £50 in my 1st account as with the £250 overdraft it covers me in the event of problems with my standing order from elsewhere. My balance has never exceeded £350 all the time I've had the account

polymaff

Or tweak the overdraft to £300

mhoc

polymaff wrote: »

Or tweak the overdraft to £300

does tweeking the overdraft have an effect on your credit score, does anyone know?

I have a vague feeling that if you lower your overdraft is does have a negative impact, but that might be an urban myth