First Direct Switch

pioijnyt

Considering switching an account to FD. But it doesnt currently have any DD's or SO's as its not my main account. Does it matter?
Once I pay in the £1000, will it matter?
TIA

boingy

I doesn't matter for that particular switch. They just need the £1000 paying in within three months of opening it.

pioijnyt

boingy said:

I doesn't matter for that particular switch. They just need the £1000 paying in within three months of opening it.

Thanks. Is that from experience? Cheers.

boingy

Yep, but I did just double check their latest T&Cs too. They were very quick to pay me the bonus but took a full month to pay it to a friend.

pioijnyt

Yes. Seems a long wait whereas RBS/NW do it within 7 days.

pioijnyt

Apparently.

Martin_o03

Anytime I've tried to open a current account with First Direct or HSBC I'm rejected, very frustrating. Do they check to a higher standard or is it just my credit rating, my credit rating isn't great but it's improved over the last 3 years and I'm fine opening current accounts with other banks. Anyone else have difficulty with them?

Maybe one day!?

ForumUser7

Martin_o03 said:

Anytime I've tried to open a current account with First Direct or HSBC I'm rejected, very frustrating. Do they check to a higher standard or is it just my credit rating, my credit rating isn't great but it's improved over the last 3 years and I'm fine opening current accounts with other banks. Anyone else have difficulty with them?

Maybe one day!?

I was able to open an account despite having no credit report (just after I’d turned 18). Have you checked your credit report rather than just your credit score? The lenders/providers don’t see the score, only the report itself. And CIFAS too?

Bridlington1

Martin_o03 said:

Anytime I've tried to open a current account with First Direct or HSBC I'm rejected, very frustrating. Do they check to a higher standard or is it just my credit rating, my credit rating isn't great but it's improved over the last 3 years and I'm fine opening current accounts with other banks. Anyone else have difficulty with them?

Maybe one day!?

It's difficult to say what caused them to reject you really. They all have their own criteria for who they want to accept as a customer. It could be anything really (within reason).

I applied earlier this year for FD as I was after the 7% regular saver and was rejected so decided to wait until I'm eligible for one of their switching offers before trying again (currently ineligible due to opening a HSBC account since 2020).

I was rejected for a Metro and a Monzo account last summer but got accepted for Metro when I tried again in January. I haven't bothered trying to apply for Monzo since. Therefore you may be able to get a FD/HSBC account if you try again in a few months but your guess is as good as mine as to whether you'll be accepted or not.

adindas

Martin_o03 said:

Anytime I've tried to open a current account with First Direct or HSBC I'm rejected, very frustrating. Do they check to a higher standard or is it just my credit rating, my credit rating isn't great but it's improved over the last 3 years and I'm fine opening current accounts with other banks. Anyone else have difficulty with them?

Maybe one day!?

I already have first direct and HSBC account for over a decade, I managed to open my second first direct account and they are  showing in the same login profile.