First Active

Tommaso46

"…it might be 72 hours before it acctually opens."::. be careful to check the interest rate then ! This was the trick they pulled on me a few years ago

MeadowsVale

I applied for a FirstActive account last Saturday 22nd and I'm still waiting for it to be activated. However, I did get an email on Thursday 27th stating they had a backlog and to hang tight basically.

Not holding much breath.

Opened the Cahoot 4.52% and had it deposited in a matter of minutes.

I do however have a NatWest current account and a Ulster Bank credit card.

Tommaso46

They have a backlog because theh have successfully lured in lots of people with what looks like an attractive offer - but is the offer time-limited? And can you get out easily if you change your mind?

aroominyork

I opened an account ten days ago. It activated after less than two minutes. I tested a credit and debit from/to my linked Nationwide account and they both went through immediately. I'm very happy to be "lured in" with what "looks like is an attractive offer" and which, like most attractive offers, is likely to be time-limited.

4justice2

Applied on the 23rd, clearly before the rush, as mine was open and functioning within minutes. Very pleased with it.

friolento

https://forums.moneysavingexpert.com/discussion/comment/82118654#Comment_82118654

As per the published T&Cs, the underlying rate is variable and the fixed bonus is limited to 1 year from account opening. It’s an easy, and instant, access account with no minimum balance requirement. The T&Cs are as clear as it gets and nobody needs to fear that they are committing themselves to anything they cannot get out of.

keiran

I think I know the answer, but does the payment of the fixed bonus amount , limited to one year, depend on keeping the money in the account for a full year, or would it still be applied and paid out if I withdrew the money before the full year was up?

friolento

https://forums.moneysavingexpert.com/discussion/comment/82118786#Comment_82118786

Why do you think you only get the bonus rate if you keep your money in the account for a full year?

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82118786#Comment_82118786

The interest payable on the balance in the account is calculated daily (including the fixed bonus) and paid each month on the 1st - so no, you don't need to keep the money in the account for a full year.

Any interest due to date will be paid if you close the account before a year has elapsed.

This stuff is all detailed in the Summary and the Terms.

xylophone

I opened one a few days ago- just a few minutes and I was able to see and credit the account.