First Direct switching question

waterman10

Hi, just a quick question.  My switch to First Direct is due to happen in about 10 days time.  I just wondered if I can pay in the £1000 and make the 5 debit card transactions before the switch takes place? Or do I have to wait for the switch to happen first. 

Thanks, any help would be appreciated 

badger09

waterman10 said:

Hi, just a quick question.  My switch to First Direct is due to happen in about 10 days time.  I just wondered if I can pay in the £1000 and make the 5 debit card transactions before the switch takes place? Or do I have to wait for the switch to happen first. 

Thanks, any help would be appreciated 

Switch incentive T&Cs on First Direct front page marked with * say you need to do both of those within 45 days of account opening. So yes, you can do them before or after the switch completes. 

Brisfit

Yes you can.
I switched to FD recently and did all the qualifying transactions before the switch date. Got the switching bonus with no issue.

david29dpo

Me, went very well.

waterman10

Ok , that's great thanks.  

So do you have to leave the £1000 in the account for a certain amount of time or can you just pay it in one day and withdraw it the next?

badger09

waterman10 said:

Ok , that's great thanks.  

So do you have to leave the £1000 in the account for a certain amount of time or can you just pay it in one day and withdraw it the next?

No and yes. 

It’s a current account. Pay the £1k in and you can pay it out again within minutes if you wish. 

Are you intending to keep this new account, or are you just doing it for the switch incentive? If you keep it, you’ll qualify for a First Direct Regular Saver which still pays one of the best rates for RS accounts. 

PRAISETHESUN

waterman10 said:

Ok , that's great thanks.  

So do you have to leave the £1000 in the account for a certain amount of time or can you just pay it in one day and withdraw it the next?

No need to wait - can pay in/out in the same day if you want.

waterman10

That's great thanks. Yeah I'm gonna apply for the regular saver too 

waterman10

How do you apply for the regular saver?  Can you only do it after the switch?

PRAISETHESUN

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

Shouldn't be any need to wait until your switch completes to apply, just that you have access to internet banking or the app.