Switching bank accounts NOT so straight forward

FreddieM

Why am I saying that? I went to switch from Nationwide back to FD. I left FD in September 2021. Firstly I can only do the switch over the phone which takes at least 30 mins, then after asking for the 7 day switch I was advised that I won't receive the £175 switching fee because I had previously been a customer. I really think Martin Lewis should mention this when he advertises changing accounts because it isn't black and white, and my advice would be "Go to a bank you haven't used before"

EarthBoy

FreddieM said:

then after asking for the 7 day switch I was advised that I won't receive the £175 switching fee because I had previously been a customer. I really think Martin Lewis should mention this when he advertises changing accounts because it isn't black and white, and my advice would be "Go to a bank you haven't used before"

Never rely on what someone tells you, even Martin Lewis.  Always check the terms and conditions yourself, first.  It's very clear on First Direct's website that previous customers don't get the switch bonus. 

Katiehound

First Direct is notoriously very awkward and has a very very long memory.

Plenty of other banks to try

Always check the t&cs . Often you can switch to a bank you have used before but generally there is a cut off date. For example the Halifax deal had this so I couldn't switch this year......
it is perfectly straight forward but you have to check out the small print.... always

Barkin

So in fact it was straightforward, but you didn't get the payment. 

FreddieM

That is correct.
Incidentally, if you join any establishment or organisation you are in fact a new customer. I do this regularly for both home & car insurance

eskbanker

FreddieM said:

Why am I saying that? I went to switch from Nationwide back to FD. I left FD in September 2021. Firstly I can only do the switch over the phone which takes at least 30 mins, then after asking for the 7 day switch I was advised that I won't receive the £175 switching fee because I had previously been a customer. I really think Martin Lewis should mention this when he advertises changing accounts because it isn't black and white, and my advice would be "Go to a bank you haven't used before"

Perhaps it would be helpful if the main bank switching piece on here said something like:

Who can get the bonus?
- You can't have ever had ANY account with First Direct (such as a current account, credit card or mortgage).

Oh wait, it does....

antuk

FreddieM said:

That is correct.
Incidentally, if you join any establishment or organisation you are in fact a new customer. I do this regularly for both home & car insurance

Yes you are a new customer, however your not a new customer who have not had a FD account before. As it clearly says on the page before you apply for the account

"New customers to first direct only, who have not previously held a first direct product. Sorry, we also can’t offer this to people who have opened an HSBC current account on or after 1 January 2020."

Middle_of_the_Road

FreddieM said:

Why am I saying that? I went to switch from Nationwide back to FD. I left FD in September 2021. Firstly I can only do the switch over the phone which takes at least 30 mins, then after asking for the 7 day switch I was advised that I won't receive the £175 switching fee because I had previously been a customer. I really think Martin Lewis should mention this when he advertises changing accounts because it isn't black and white, and my advice would be "Go to a bank you haven't used before"

Seems you've been caught out by missing the fact that FD will not let previous customers have a switching bonus.
FD are unusual in that way, most other banks who offer these bonuses only have a time limit exclusion.
Seem to remember, Chase also ban previous customers. No great loss, there will always be bonuses that you do qualify for.
Just noticed your signature line, a very nice sentiment, unlike some of the sarcasm dealt out around here.

Zanderman

FreddieM said:

Why am I saying that? I went to switch from Nationwide back to FD. I left FD in September 2021. Firstly I can only do the switch over the phone which takes at least 30 mins, then after asking for the 7 day switch I was advised that I won't receive the £175 switching fee because I had previously been a customer. I really think Martin Lewis should mention this when he advertises changing accounts because it isn't black and white, and my advice would be "Go to a bank you haven't used before"

Nothing you've said supports the idea that switching banks isn't straightforward - it is, all you lost was 30 minutes of your time.  You just weren't eligible for the switching bonus - a fact which is clear, for the FD switch, in the MSE advice and on FirstDirect's site - which is, actually, the most black and white website of any bank. 

grumbler

It's just common sense, isn't it?

All banks have some time restrictions for switching bonuses that any reasonable person would expect and check the T&C; for FD it's lifetime.

 Otherwise we all would be able to retire  and make our living by switching several accounts every month.

Also, I don't see anything at FD about an obligatory phone call for switching. Problems can arise with everything - that's why CS exist.

https://www.firstdirect.com/banking/switching-bank-accounts/ - it's a very shot page to read, but it has all the information, including a perfectly clear bit "who have not previously held a first direct product"

mole_man

I just switched to first direct recently and did everything through the app! My switch was completed on the 4th of August and I was paid the incentive on the 16th. It was all pretty straightforward to me.

Also, it says the following on MSE when you go on the page with information about current switching offers:
• You can't have ever had ANY account with First Direct (such as a current account, credit card or mortgage).