First direct monthly saver

pookey

I applied to open a first direct monthly saver on 28/11/24 and it was opened on 29/11/24. Now that it's the first can I top up the account or do I need to wait until the end of the month please? 

Misslayed

What is the exact title of the account? If it’s a Regular Saver, there’s a limit to how much you can add each month - usually £300 maximum I believe. 

wmb194

pookey said:

I applied to open a first direct monthly saver on 28/11/24 and it was opened on 29/11/24. Now that it's the first can I top up the account or do I need to wait until the end of the month please? 

No, it's strictly on the mensiversary.

35har1old

wmb194 said:

pookey said:

I applied to open a first direct monthly saver on 28/11/24 and it was opened on 29/11/24. Now that it's the first can I top up the account or do I need to wait until the end of the month please? 

No, it's strictly on the mensiversary.

It requires payment on the date it was opened every month but as it was opened on the 29th I assume February payment will be expected on the 28th 

surreysaver

They set up the standing order for you. So it will be whatever date they have set it up for 

surreysaver

35har1old said:

wmb194 said:

pookey said:

I applied to open a first direct monthly saver on 28/11/24 and it was opened on 29/11/24. Now that it's the first can I top up the account or do I need to wait until the end of the month please? 

No, it's strictly on the mensiversary.

It requires payment on the date it was opened every month but as it was opened on the 29th I assume February payment will be expected on the 28th 

Or 1st March 

EarthBoy

Unlike most other banks, First Direct don't allow you to change the date of the payments into their Regular Saver.  They set the standing order up for you when you open the account, and the payments will be on the same date each month thereafter.  
It's all explained in the FAQs on First Direct's website:

Regular Saver Account | 7% Interest Savings - first direct

How do I make payments into my Regular Saver?

We’ll take your first payment from your 1st Account on the day we open your Regular Saver. After that, your payments will be made by standing order from your 1st Account – don’t worry, we’ll set this up for you.

Your standing order payment date will need to remain the same once set up. You can only make one standing order payment each month. This means if your standing order is less than £300, you can’t make any additional payments. You’ll have to change your monthly standing order amount to pay in more or less in future months.

Can I change my payment amount and date?

To change your standing order payment, chat with us via our App, Message Us via Online Banking, or give us a call. You can change your standing order amount between £25 and £300 (in multiples of £5), but you’ll only be able to make one monthly payment. You can’t change your payment date – it needs to remain the same once set up.

Rich1976

they will set the standing order for the 29th December and then on the 29th of each month until the end of the term. You cannot make ad hoc top up payments , it all has to be by SO

35har1old

surreysaver said:

35har1old said:

wmb194 said:

pookey said:

I applied to open a first direct monthly saver on 28/11/24 and it was opened on 29/11/24. Now that it's the first can I top up the account or do I need to wait until the end of the month please? 

No, it's strictly on the mensiversary.

It requires payment on the date it was opened every month but as it was opened on the 29th I assume February payment will be expected on the 28th 

Or 1st March 

Would that not be against the terms?
One payment per month

flaneurs_lobster

35har1old said:

surreysaver said:

35har1old said:

wmb194 said:

pookey said:

I applied to open a first direct monthly saver on 28/11/24 and it was opened on 29/11/24. Now that it's the first can I top up the account or do I need to wait until the end of the month please? 

No, it's strictly on the mensiversary.

It requires payment on the date it was opened every month but as it was opened on the 29th I assume February payment will be expected on the 28th 

Or 1st March 

Would that not be against the terms?
One payment per month

It (the payment falling due on a non-existing date) gets treated as if the payment were to fall on a non-business day, so the payment is shifted to the next business day. Same happens if you set up a SO to pay on the 31st of each month.

wmb194

35har1old said:

surreysaver said:

35har1old said:

wmb194 said:

pookey said:

I applied to open a first direct monthly saver on 28/11/24 and it was opened on 29/11/24. Now that it's the first can I top up the account or do I need to wait until the end of the month please? 

No, it's strictly on the mensiversary.

It requires payment on the date it was opened every month but as it was opened on the 29th I assume February payment will be expected on the 28th 

Or 1st March 

Would that not be against the terms?
One payment per month

It's not a problem, over the years this has happened for me many times.