First Direct

stevio

Hello, my wife and I have decided to switch form Natwest even though we've been with them for 37 years as
the service these past 3 years has been appalling and loyalty counts for nothing nowadays does it?

So, we've both switched to First direct to each get the £175.

 

If I take out the regular saver where you have to put in £300 max per month and I switch to Santander later.
What happens to that particular account does it become frozen until the year is up?

 

Many thanks

Steve

Jami74

stevio said:

If I take out the regular saver where you have to put in £300 max per month and I switch to Santander later.

What happens to that particular account does it become frozen until the year is up?

You don't have to put in £300. You have to put in at least £25. The £300 is the max you can put in.

I believe you need to keep your current account open with First Direct in order to have their regular saver. Don't switch away until the saver has matured.

Why not open another account with Natwest and switch that one to Santander for the switch offer?

EarthBoy

If you switch your First Direct current account (called a 1st Account) to Santander (or anywhere else), they will close your Regular Saver and pay you interest at the paltry Savings Account rate.  You won't get the 7% on any of the money.

The account terms and conditions (page 37) state:

"Account switching: If you’re switching your 1st Account to another provider using the Current Account Switch Service and it’s in credit, we’ll send your total balance (including interest at the relevant Savings Account rate) to your new account. If your 1st Account is overdrawn on the day of the switch, we’ll close your Regular Saver on the working day after, use the money to repay the debt then send any remaining money to you."

https://www.firstdirect.com/content/dam/wpb/fsdt/en/documents/pdf/fdAccTandC.pdf

mikefearn83

I’m currently looking at the FD 175 offer. Can I just swap my solo account where I only have 1 or 2 direct debits. I transfer money out of this account into a joint account for all bills etc. my wages go into the solo account. Will this still get the 175. Thanks. 

stevio

mikefearn83 said:

I’m currently looking at the FD 175 offer. Can I just swap my solo account where I only have 1 or 2 direct debits. I transfer money out of this account into a joint account for all bills etc. my wages go into the solo account. Will this still get the 175. Thanks. 

Hi The only criteria seems to be that you have to pay in £1000 within 3 months.

Give them a ring.

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