MSE News: First Direct doubles interest on regular saver to 7% – how to get the new rate

B0bbyEwing

wiseonesomeofthetime said:

Band7 said:

wiseonesomeofthetime said:

If only First Direct would allow you to amend your standing order without having to deal with CS.

You can amend the amount, just not the date.

Sadly, you cannot.

After amending and clicking confirm, it states there is an error and to use chat.

dcs34 said:

wiseonesomeofthetime said:

If only First Direct would allow you to amend your standing order without having to deal with CS.

You can make the 'extra' payment by a transfer in online banking, doesn't have to be a standing order.

(In my experience - yours may vary)

Again, sadly you cannot, as the regular saver does not appear as an option for the destination account.


I did get it amended via Help Chat, once past the Dot bot.

Agreed with this poster. Or at least my experience mirrored this. 

wiseonesomeofthetime

intalex said:

If one has reduced their monthly standing order from £300 to £25, does this account allow you to pay in the difference (£275 for 1 month) separately as a manual transfer?

I should have asked this question while dealing with CS for the SO amendment, however, was concerned it would cause confusion, so didn't in the end.

Albermarle

Bigwheels1111 said:

VXman said:

Is this available for all current FD customers?  I don't remember seeing a regular savers account available. Maybe I have just been remis. Can I open a new one on 1st Dec at 7%

Yes all FD account holders.
It might take 3-7 day to open.
It did in April I think it was when they launched the 3.5% regular saver this year.

Just opened this today as we have a joint current account. Worth noting that you can not open the regular saver ( and probably any other savings account) jointly, even if the linked current account is a joint one. 

SJMALBA

I would be a first time customer of First Direct; I started an application, but encountered the 'Let's Check Your ID' page - are they able to ID you with online methods, as is the norm with savings accounts, or are ID documents (passport, photocard ID etc.) mandatory?

There is a 'Skip' option, but will they likely ask for documents afterwards? (FWIW, I've never had any documents requested when opening any other bank/BS accounts, including Nationwide's Flex Direct Current Account)

EDIT: Clicked on 'Skip' and...

Looks like a non-starter for me, then.

stylus360

Can this be opened now in advance?
Im pretty sure I had done form of FD account years ago. 

Or do I need to wait till the 1st and open/add it to whatever account I have/had with them?

thanks

Brewer21

As far as I know you can alter the SO amount within the app, I've done this previously on past RS with FD. If you have an amount lower than the £300 set as your SO  you can make up the difference in future months. See below... I've never done this i don't know whether you can pay say £400 in the next month because you only paid £200 the previous month.

Minimum/Maximum Balance: the minimum deposit in month 1 is £25 the maximum balance is £3,600 at the end of the 12 month term.

Regular Payments: regular deposits must be made by standing order each month the minimum monthly deposit is £25 per month the maximum monthly deposit is £300 per month if you don't pay in the maximum allowed in any month, you can carry over any unused subscriptions and catch up in future months.

NotWhereIWantToBe

Does anyone know if you have to switch to get this ?
I've already had the switch bonus a few years back so don’t want to switch to them again. 

Rudyson

NotWhereIWantToBe said:

Does anyone know if you have to switch to get this ?
I've already had the switch bonus a few years back so don’t want to switch to them again. 

You don't have to switch, you do have to have, or open, a current account with them.

ColdIron

NotWhereIWantToBe said:

Does anyone know if you have to switch to get this ?
I've already had the switch bonus a few years back so don’t want to switch to them again. 

No

Eligibility:

• you must already hold a first direct 1st Account, our current account.
• this account can only be opened in sole names
• only one account per person permitted

intalex

intalex said:

If one has reduced their monthly standing order from £300 to £25, does this account allow you to pay in the difference (£275 for 1 month) separately as a manual transfer?

Seems that deposits into the FD RS are restricted to each monthiversary of the account opening, so they amended my SO back to the full value and also set up a one-off future transaction for the next monthiversary to add the £275 (this is allowed apparently).