First Direct £100 switch offer is back

EarthBoy

michellej1980 said:

What I can’t find clarification on is whether ‘any account’ includes a mortgage account or just a ‘bank account’.

Ring them and ask.

katies_mum

Please would anyone who has switched to First Direct know how the switching system works?  do you just open an account via the system and your existing bank account is transferred?  or as it mentions on FD website under the 7 day switching page you have open an account and then phone them to begin the switching.   Many thanks

eskbanker

katies_mum said:

Please would anyone who has switched to First Direct know how the switching system works?  do you just open an account via the system and your existing bank account is transferred?  or as it mentions on FD website under the 7 day switching page you have open an account and then phone them to begin the switching.

It's the latter - opening an account and switching to it are two separate processes, so follow their guidance....

If it's an account you're likely to be using as your 'main' account, it's generally prudent to ensure that you have everything you need (debit card, online access, transactions in/out tested, etc) before initiating the switch.

katies_mum

Thank you for replying, glad we asked now.  When my daughter switched to TSB from Lloyds a few years ago the switch was automatic when the account was opened on line.  Please could I ask is online access immediate with FD once the account is opened or do you have to wait for security codes etc in the post?

colsten

katies_mum said:

Thank you for replying, glad we asked now.  When my daughter switched to TSB from Lloyds a few years ago the switch was automatic when the account was opened on line.  Please could I ask is online access immediate with FD once the account is opened or do you have to wait for security codes etc in the post?

No switch is automatic. All switches are a separate process from opening an account. However, many banks allow you to apply for both, an account and a switch to that account, on the same form. Unfortunately, they do not warn people that if something goes wrong with the account opening, people could be stranded without access to their money.

The FD account opening process is not instant. The most obvious 'delays' are that you have to wait for for your debit card, and for your PIN, to arrive by post. They also send you half a tree of documents, and IIRC, one of the bits of information they send you is part of the key that you require to activate the app, assuming you want to use the app. If you don't want to use the app, they still provide you with some gadget to generate a security code for logging in.

After your application has been accepted, you need to first register for Phone Banking, and then you can register for online banking. Nothing onerous, it just takes some time to get it all done.

katies_mum

Hi, just a little update, my daughter has just initiated a switch and at the end of the process there is an option to give your current bank details and select a switch date

Katiehound

I can tell you that if you have EVER had a FirstDirect current a/c you will not qualify for the £100 switch offer.
 I wasted quite a bit of time on the phone trying to clarify that point.  I had such an account with them over 30 years ago!!! I pointed out that if they had info from then it was against Data protection as I did not sanction it. Waste of time.
 Of course I can still switch to them (without a golden welcome) Why would I do that? Oh, unless I claimed a £100 'goodbye'

eskbanker

Katiehound said:

I can tell you that if you have EVER had a FirstDirect current a/c you will not qualify for the £100 switch offer.
 I wasted quite a bit of time on the phone trying to clarify that point.  I had such an account with them over 30 years ago!!! I pointed out that if they had info from then it was against Data protection as I did not sanction it.

It's not necessarily a breach of the Data Protection Act, which, contrary to popular perception, doesn't require that all data over x years old must be deleted, just that its retention must be consistent with each organisation's defined policies, which, in turn, must be reasonable.  Likewise, many believe that data subjects have complete control over the fate of all their personal data, but DPA doesn't give unfettered rights to insist on data deletion, and doesn't require subject consent for all data.

funkycredit

katies_mum said:

Thank you for replying, glad we asked now.  When my daughter switched to TSB from Lloyds a few years ago the switch was automatic when the account was opened on line.  Please could I ask is online access immediate with FD once the account is opened or do you have to wait for security codes etc in the post?

When you apply you'll get a yes or no. Assuming it's yes then a few days later you'll get a letter to sign; agreeing to the account and overdraft (whether you chose one or not). Then when you send it back your card and pin is sent along with a third "welcome" letter which tells you to call them to setup internet banking. 

When you call they ask you to choose a security word. That's it - all in takes around 5 minutes from ringing to logging in. 

Always easier to use the mobile app to first register and login. 

The days of receiving a tree are long gone. I had a single page go sign then my card and pin and a welcome letter with 3 pages. That was all. 

I got more with my credit cards - a booklet to read. Lol

masonic

Katiehound said:

I can tell you that if you have EVER had a FirstDirect current a/c you will not qualify for the £100 switch offer.
 I wasted quite a bit of time on the phone trying to clarify that point.  I had such an account with them over 30 years ago!!! I pointed out that if they had info from then it was against Data protection as I did not sanction it. Waste of time.
 Of course I can still switch to them (without a golden welcome) Why would I do that? Oh, unless I claimed a £100 'goodbye'

At least one person has reported being let off the hook with this in a similar situation.