First 1st Direct £7% account misleading

boingy

wiseonesomeofthetime said:

Bigwheels1111 said:

Please read all the other posts on here.

Then read and understand what you are signing up for.

I class myself as uneducated at best and even I worked it out.

7% on £300, then month 2, 7% on £600 and so on.

Every 2 or 3 days these post's start.

Someone having an "off day"? 🤔🤣

I've been in the same boat on forums in the past, giving advice totally irrelevant to the question raised by OP.

🤷‍♂️

I had to delete a post recently because the question was about First Direct and I started talking about Direct Line <cough, cough>

boingy

But back on topic. There is another gotcha with the FD reg saver. The account must be funded from a FD current account and only by standing order. You can't transfer funds directly from an outside account or even from the FD current account. 

That's why they setup the standing order automatically when you open the account. I got into a right mess by deleting the standing order and trying to send funds from my Kroo account. I needed the nice, but slightly stern, lady at FD to sort it out for me. I was suitably apologetic.

wiseonesomeofthetime

And you also have to contact First Direct CS if you want to change the amount of your Standing Order.

You cannot simply change it yourself, despite the fact it gives the impression you can, until the error screen 🤷‍♂️

boingy

wiseonesomeofthetime said:

And you also have to contact First Direct CS if you want to change the amount of your Standing Order.

You cannot simply change it yourself, despite the fact it gives the impression you can, until the error screen 🤷‍♂️

Yeah, I tried a number of similar things before surrendering and talking to the nice lady. That might be why she was slightly stern. "Hello. I've got into a bit of a mess..."  

Albermarle

gesdt50 said:

ForumUser7 said:

gesdt50 said:

Good afternoon all, upon applying for the First 1st Direct £7% account, having read the small print as I was going along it said the the 1st payment of £300 will be taken in a months time when I clicked to the next final acceptance page it said that you account will be opened in 3 working days and the 1st payment will then be taken so from 1 page to the next they had made a misleading statement with no back page as the account was then open. What please can be done if anything?

"How do I make payments into my regular saver?

Your first payment will be taken from your 1st Account on the day we open your Regular Saver Account. This will be followed by another 11 monthly payments which can only be made by standing order from your 1st Account (we will set this up for you). "

https://www.firstdirect.com/savings-and-investments/savings/regular-saver-account/

It is clear on the product page this is how it operates, but if you are unhappy I believe you may have a 14 day cooling off period (the HSBC product has this, so FD probably does too as same parent company). Call first direct, and ask to cancel the product penalty free as you are in the cooling off period and see what they say.

wiseonesomeofthetime said:

Bigwheels1111 said:

Please read all the other posts on here.

Then read and understand what you are signing up for.

I class myself as uneducated at best and even I worked it out.

7% on £300, then month 2, 7% on £600 and so on.

Every 2 or 3 days these post's start.

Someone having an "off day"? 🤔🤣

I've been in the same boat on forums in the past, giving advice totally irrelevant to the question raised by OP.

🤷‍♂️

I know what I saw it said 1 month on the previous page will be the first taken amount then it was changed on the next page however it was to late to take the screen shot as they had opened the account and there was no back option; guess they are a bad bank also as I have been on the app chat where they tried to get me to go away and then cancelled the chat

First Direct have been consistently named best bank for customer service for many years . So your bad experience is probably a one off. It can happen 

isasmurf

Going back to the original issue, without being able to see the exact wording and the context in which it is placed, I'd hazard a guess it is referring to, or intended to refer to, the first payment of the standing order will be taken in 1 month rather than the first payment into the account which is a direct transfer from your 1st Account (made by them) on account opening. 

ZeroSum

Complain & they'll give you £25

ZeroSum

Albermarle said:

gesdt50 said:

ForumUser7 said:

gesdt50 said:

Good afternoon all, upon applying for the First 1st Direct £7% account, having read the small print as I was going along it said the the 1st payment of £300 will be taken in a months time when I clicked to the next final acceptance page it said that you account will be opened in 3 working days and the 1st payment will then be taken so from 1 page to the next they had made a misleading statement with no back page as the account was then open. What please can be done if anything?

"How do I make payments into my regular saver?

Your first payment will be taken from your 1st Account on the day we open your Regular Saver Account. This will be followed by another 11 monthly payments which can only be made by standing order from your 1st Account (we will set this up for you). "

https://www.firstdirect.com/savings-and-investments/savings/regular-saver-account/

It is clear on the product page this is how it operates, but if you are unhappy I believe you may have a 14 day cooling off period (the HSBC product has this, so FD probably does too as same parent company). Call first direct, and ask to cancel the product penalty free as you are in the cooling off period and see what they say.

wiseonesomeofthetime said:

Bigwheels1111 said:

Please read all the other posts on here.

Then read and understand what you are signing up for.

I class myself as uneducated at best and even I worked it out.

7% on £300, then month 2, 7% on £600 and so on.

Every 2 or 3 days these post's start.

Someone having an "off day"? 🤔🤣

I've been in the same boat on forums in the past, giving advice totally irrelevant to the question raised by OP.

🤷‍♂️

I know what I saw it said 1 month on the previous page will be the first taken amount then it was changed on the next page however it was to late to take the screen shot as they had opened the account and there was no back option; guess they are a bad bank also as I have been on the app chat where they tried to get me to go away and then cancelled the chat

First Direct have been consistently named best bank for customer service for many years . So your bad experience is probably a one off. It can happen 

I think that's CS in terms when you get to speak to someone. FD's general systems & service are poor, I've had more issues with them than any other bank. Where FD are good, is that they're more willing to pay you off after complaining

retiringtoosoon

ZeroSum said:

Complain & they'll give you £25

This is the correct answer 

Rich1976

ZeroSum said:

Albermarle said:

gesdt50 said:

ForumUser7 said:

gesdt50 said:

Good afternoon all, upon applying for the First 1st Direct £7% account, having read the small print as I was going along it said the the 1st payment of £300 will be taken in a months time when I clicked to the next final acceptance page it said that you account will be opened in 3 working days and the 1st payment will then be taken so from 1 page to the next they had made a misleading statement with no back page as the account was then open. What please can be done if anything?

"How do I make payments into my regular saver?

Your first payment will be taken from your 1st Account on the day we open your Regular Saver Account. This will be followed by another 11 monthly payments which can only be made by standing order from your 1st Account (we will set this up for you). "

https://www.firstdirect.com/savings-and-investments/savings/regular-saver-account/

It is clear on the product page this is how it operates, but if you are unhappy I believe you may have a 14 day cooling off period (the HSBC product has this, so FD probably does too as same parent company). Call first direct, and ask to cancel the product penalty free as you are in the cooling off period and see what they say.

wiseonesomeofthetime said:

Bigwheels1111 said:

Please read all the other posts on here.

Then read and understand what you are signing up for.

I class myself as uneducated at best and even I worked it out.

7% on £300, then month 2, 7% on £600 and so on.

Every 2 or 3 days these post's start.

Someone having an "off day"? 🤔🤣

I've been in the same boat on forums in the past, giving advice totally irrelevant to the question raised by OP.

🤷‍♂️

I know what I saw it said 1 month on the previous page will be the first taken amount then it was changed on the next page however it was to late to take the screen shot as they had opened the account and there was no back option; guess they are a bad bank also as I have been on the app chat where they tried to get me to go away and then cancelled the chat

First Direct have been consistently named best bank for customer service for many years . So your bad experience is probably a one off. It can happen 

I think that's CS in terms when you get to speak to someone. FD's general systems & service are poor, I've had more issues with them than any other bank. Where FD are good, is that they're more willing to pay you off after complaining

ZeroSum said:

Albermarle said:

gesdt50 said:

ForumUser7 said:

gesdt50 said:

Good afternoon all, upon applying for the First 1st Direct £7% account, having read the small print as I was going along it said the the 1st payment of £300 will be taken in a months time when I clicked to the next final acceptance page it said that you account will be opened in 3 working days and the 1st payment will then be taken so from 1 page to the next they had made a misleading statement with no back page as the account was then open. What please can be done if anything?

"How do I make payments into my regular saver?

Your first payment will be taken from your 1st Account on the day we open your Regular Saver Account. This will be followed by another 11 monthly payments which can only be made by standing order from your 1st Account (we will set this up for you). "

https://www.firstdirect.com/savings-and-investments/savings/regular-saver-account/

It is clear on the product page this is how it operates, but if you are unhappy I believe you may have a 14 day cooling off period (the HSBC product has this, so FD probably does too as same parent company). Call first direct, and ask to cancel the product penalty free as you are in the cooling off period and see what they say.

wiseonesomeofthetime said:

Bigwheels1111 said:

Please read all the other posts on here.

Then read and understand what you are signing up for.

I class myself as uneducated at best and even I worked it out.

7% on £300, then month 2, 7% on £600 and so on.

Every 2 or 3 days these post's start.

Someone having an "off day"? 🤔🤣

I've been in the same boat on forums in the past, giving advice totally irrelevant to the question raised by OP.

🤷‍♂️

I know what I saw it said 1 month on the previous page will be the first taken amount then it was changed on the next page however it was to late to take the screen shot as they had opened the account and there was no back option; guess they are a bad bank also as I have been on the app chat where they tried to get me to go away and then cancelled the chat

First Direct have been consistently named best bank for customer service for many years . So your bad experience is probably a one off. It can happen 

I think that's CS in terms when you get to speak to someone. FD's general systems & service are poor, I've had more issues with them than any other bank. Where FD are good, is that they're more willing to pay you off after complaining

So why do you use them then if they are that bad?