First Direct Current Account

EarthBoy

lr1277 said:

Beware some banks, if you switch away may not ever give you a current account with them again. FD are like that.

WRONG. Where did you get that from? First Direct don't stop you coming back after you've switched away. I've done it myself, as have countless others. 

PRAISETHESUN

EarthBoy said:

lr1277 said:

Beware some banks, if you switch away may not ever give you a current account with them again. FD are like that.

WRONG. Where did you get that from? First Direct don't stop you coming back after you've switched away. I've done it myself, as have countless others. 

FD will let you open new accounts in future, but they typically exclude you from future switching offers for having ever held an account with them, regardless if you have actually had a switching incentive before or not.

EarthBoy

PRAISETHESUN said:

EarthBoy said:

lr1277 said:

Beware some banks, if you switch away may not ever give you a current account with them again. FD are like that.

WRONG. Where did you get that from? First Direct don't stop you coming back after you've switched away. I've done it myself, as have countless others. 

FD will let you open new accounts in future, but they typically exclude you from future switching offers for having ever held an account with them, regardless if you have actually had a switching incentive before or not.

That's correct, at least according to the rules. Some people claim to have received multiple switching offers from them, despite the rules, but I've never tried it myself.

lr1277

EarthBoy said:

lr1277 said:

Beware some banks, if you switch away may not ever give you a current account with them again. FD are like that.

WRONG. Where did you get that from? First Direct don't stop you coming back after you've switched away. I've done it myself, as have countless others. 

1) In the first post on this thread:

https://forums.moneysavingexpert.com/discussion/6526399/first-direct-switching-offer-from-7-may-2024?utm_source=community-search&utm_medium=organic-search&utm_term=First+direct 

The post made by @EarthBoy, the t's and c's are listed which include:

Switch criteria

• be a new customer to first direct, who has not previously held a first direct product, or has opened an HSBC current account on or after 1 January 2018.

2) I have been on this forum long enough to have a hazy memory of posters asking if they can rejoin FD. The answers at the time seemed to be no and FD have a long memory. Fd may have a long memory but I may not.

3) I said may not.

4) And to be fair, you did say in the post above mine that FD allow returning customers. But being a long time FD customer, I have never risked switching away on the basis that I will never get to rejoin.

YMMV

eskbanker

lr1277 said:

EarthBoy said:

lr1277 said:

Beware some banks, if you switch away may not ever give you a current account with them again. FD are like that.

WRONG. Where did you get that from? First Direct don't stop you coming back after you've switched away. I've done it myself, as have countless others. 

1) In the first post on this thread:

https://forums.moneysavingexpert.com/discussion/6526399/first-direct-switching-offer-from-7-may-2024?utm_source=community-search&utm_medium=organic-search&utm_term=First+direct 

The post made by @EarthBoy, the t's and c's are listed which include:

Switch criteria

• be a new customer to first direct, who has not previously held a first direct product, or has opened an HSBC current account on or after 1 January 2018.

2) I have been on this forum long enough to have a hazy memory of posters asking if they can rejoin FD. The answers at the time seemed to be no and FD have a long memory. Fd may have a long memory but I may not.

3) I said may not.

4) And to be fair, you did say in the post above mine that FD allow returning customers. But being a long time FD customer, I have never risked switching away on the basis that I will never get to rejoin.

YMMV

But in terms of factual accuracy, it's not true to say that FD prevent returning customers - they just choose not to pay incentives for anyone doing so.

EarthBoy

lr1277 said:

1) In the first post on this thread:

The post made by @EarthBoy, the t's and c's are listed which include:

Switch criteria

• be a new customer to first direct, who has not previously held a first direct product, or has opened an HSBC current account on or after 1 January 2018.

Those are just the terms for getting the switching bonus, not for opening an account. You are confusing the two things.

Rich1976

lr1277 said:

EarthBoy said:

lr1277 said:

Beware some banks, if you switch away may not ever give you a current account with them again. FD are like that.

WRONG. Where did you get that from? First Direct don't stop you coming back after you've switched away. I've done it myself, as have countless others. 

1) In the first post on this thread:

https://forums.moneysavingexpert.com/discussion/6526399/first-direct-switching-offer-from-7-may-2024?utm_source=community-search&utm_medium=organic-search&utm_term=First+direct 

The post made by @EarthBoy, the t's and c's are listed which include:

Switch criteria

• be a new customer to first direct, who has not previously held a first direct product, or has opened an HSBC current account on or after 1 January 2018.

2) I have been on this forum long enough to have a hazy memory of posters asking if they can rejoin FD. The answers at the time seemed to be no and FD have a long memory. Fd may have a long memory but I may not.

3) I said may not.

4) And to be fair, you did say in the post above mine that FD allow returning customers. But being a long time FD customer, I have never risked switching away on the basis that I will never get to rejoin.

YMMV

I’ve left FD previously and had no issues at all when I went back.

Kraka3

400ixl said:

Who is your current bank?

Some you open a second account and switch that one and it is that one that gets closed. If you can onoy have one account with your current bank then yes you would lose that.

Co-operative bank

I've gone ahead & applied for the FD account.

Kraka3

I'm waiting for approval & still considering the option of switching.  I have several current accounts already, which I use for their attached benefits e.g. overseas spending, customer only savings accounts with good rates etc.

My main account I've had for years.  I initially went with the co-op as years ago I hadn't had a bank account t for years & very poor credit.  I got a basic bank account, the first credit card I could & built my credit rating back up.  I chose co-o;p as my options were limited, at the time I held a Bristol & West building society account (whom they acquired) & they are vaguely ethical as banks go.

I don't really want to close my existing account down, but get that it's an easy £175. 

Stargunner

Kraka3 said:

I'm waiting for approval & still considering the option of switching.  I have several current accounts already, which I use for their attached benefits e.g. overseas spending, customer only savings accounts with good rates etc.

My main account I've had for years.  I initially went with the co-op as years ago I hadn't had a bank account t for years & very poor credit.  I got a basic bank account, the first credit card I could & built my credit rating back up.  I chose co-o;p as my options were limited, at the time I held a Bristol & West building society account (whom they acquired) & they are vaguely ethical as banks go.

I don't really want to close my existing account down, but get that it's an easy £175. 

You don't need to switch and close your existing Co-Op account. You can open another account and switch that.