Current account switching

Snowster72

Hi all first time posting so please be gentle I have recently started the process of switching my current account and taking up with FD with the active offer of £175 can anyone advise me how long have you got to stay before switching again? Under FD t&c it states 3 years from your switch date surely this is not correct? Many thanks 

Zanderman

Where, in the T&C, is three years mentioned? I can't see it - and, to date at least, there has been no such restriction:

https://www.firstdirect.com/content/dam/wpb/fsdt/en/documents/pdf/switch-offer-terms-and-conditions.pdf

gsmh

When you switch accounts using CASS any funds paid into the old account will automatically be diverted to the new account. That service lasts for three years. I think that’s what you have mistaken for the period of time you have to keep the account before you can switch again. You can usually switch away at any time one the initial switch has completed.

jimjames

gsmh said:

 You can usually switch away at any time one the initial switch has completed.

That is true but always worth checking the T&Cs for any restriction on the receipt of incentives which might require longer. Technically you might be able to move immediately but could disqualify from receiving some or all of the payment.

PRAISETHESUN

As above - always check the T&Cs of the specific offers you are taking advantage of but to save you some time, none of the active current account switch incentives have T&Cs requiring your new account to stay open for a minimum length of time. You need to keep the account open until the incentive money is paid, but after then you are free to switch away to another bank if that's what you want to do.

Katiehound

However remember that if you like FD's product but you move elsewhere that they have extremely long memories and will not be offering you a future incentive!