First Direct regular saver

eskbanker

Albermarle said:

When you apply it says it will probably take about three days due to high demand. I applied on last Wednesday and it was opened today.
No issue for me .

Exactly the same timescales for me - not surprising that a product that's well ahead of its competitors attracts a lot of interest (!) and I suspect that FD's account opening process, which includes initial funding with the first deposit and setting up a SO for subsequent ones, is more convoluted than most.

trevjl

ZeroSum said:

Got text today

"Thanks for your Regular Saver application. Due to high demand, it's taking us a little longer to open the new accounts. We’ll message you when your account is open."

Why can't they be more like the online banks  where the account just opens after a few clicks.

Great customer service? Yeah, righto whatever 

I applied on Saturday, got the same text and today I got the text to say it is open and the account appears online, so seems just the usual caveat companies use just in case and to stop people ringing up every 5 minutes

ZeroSum

trevjl said:

ZeroSum said:

Got text today

"Thanks for your Regular Saver application. Due to high demand, it's taking us a little longer to open the new accounts. We’ll message you when your account is open."

Why can't they be more like the online banks  where the account just opens after a few clicks.

Great customer service? Yeah, righto whatever 

I applied on Saturday, got the same text and today I got the text to say it is open and the account appears online, so seems just the usual caveat companies use just in case and to stop people ringing up every 5 minutes

I applied on Thursday & it's not open yet

wmb194

eskbanker said:

Albermarle said:

When you apply it says it will probably take about three days due to high demand. I applied on last Wednesday and it was opened today.
No issue for me .

Exactly the same timescales for me - not surprising that a product that's well ahead of its competitors attracts a lot of interest (!) and I suspect that FD's account opening process, which includes initial funding with the first deposit and setting up a SO for subsequent ones, is more convoluted than most.

What's interesting is that HSBC itself now has a slick, apparently automated and immediate opening and SO set-up process for its regular saver. I'm not sure when it was introduced but I opened one last week using this new process. I expect it'll be rolled out to FD at some point.

Band7

eskbanker said:

Albermarle said:

When you apply it says it will probably take about three days due to high demand. I applied on last Wednesday and it was opened today.
No issue for me .

Exactly the same timescales for me - not surprising that a product that's well ahead of its competitors attracts a lot of interest (!) and I suspect that FD's account opening process, which includes initial funding with the first deposit and setting up a SO for subsequent ones, is more convoluted than most.

They have had the same convoluted opening process for at least 12  years now, so they should be quite proficient at it by now

Wheres_My_Cashback

To me the most annoying thing about the FD RS is that you can't set your own payment date because you're at the mercy of their opening date. It's good and keep things simple to set the S/O s to go out on the 1st.
Hopefully by the time mine matures in Oct they will have instigated the new, very easy and simple HSBC format.

Band7

Wheres_My_Cashback said:

To me the most annoying thing about the FD RS is that you can't set your own payment date because you're at the mercy of their opening date. It's good and keep things simple to set the S/O s to go out on the 1st.
Hopefully by the time mine matures in Oct they will have instigated the new, very easy and simple HSBC format.

HSBC doesn't allow you to choose your own SO date, either.

Wheres_My_Cashback

Band7 said:

Wheres_My_Cashback said:

To me the most annoying thing about the FD RS is that you can't set your own payment date because you're at the mercy of their opening date. It's good and keep things simple to set the S/O s to go out on the 1st.
Hopefully by the time mine matures in Oct they will have instigated the new, very easy and simple HSBC format.

HSBC doesn't allow you to choose your own SO date, either.

The fact that you can now open an RS instantly, does !

Band7

Wheres_My_Cashback said:

Band7 said:

Wheres_My_Cashback said:

To me the most annoying thing about the FD RS is that you can't set your own payment date because you're at the mercy of their opening date. It's good and keep things simple to set the S/O s to go out on the 1st.
Hopefully by the time mine matures in Oct they will have instigated the new, very easy and simple HSBC format.

HSBC doesn't allow you to choose your own SO date, either.

The fact that you can now open an RS instantly, does !

LOL, your definition of choice of SO date and mine do vary somewhat.

At providers where I consider I have a choice, I can open an RS and make my first deposit on the last day of a month. I am then free to set up an SO starting from the 1st, or any day, of the next month. With them, I can also change an existing SO date to whatever other date suits me. Not so at HSBC.

Wheres_My_Cashback

Band7 said:

Wheres_My_Cashback said:

Band7 said:

Wheres_My_Cashback said:

To me the most annoying thing about the FD RS is that you can't set your own payment date because you're at the mercy of their opening date. It's good and keep things simple to set the S/O s to go out on the 1st.
Hopefully by the time mine matures in Oct they will have instigated the new, very easy and simple HSBC format.

HSBC doesn't allow you to choose your own SO date, either.

The fact that you can now open an RS instantly, does !

LOL, your definition of choice of SO date and mine do vary somewhat.

If you're pedantic, then yes and if you take it out of context, then yes again.

PS. your new username is highly appropriate !