Should I switch to First Direct?

gallygirl

I love my Smile account but interest is only 3% so am considering moving (as a matter of principle as much as anything, transfer any spare to offset account).

£100 is a nice bribe..... , however I have 3 concerns:

1. Would I be able to open 2 accounts? (I'd only expect 1 £100 ), I need 2 to operate the way I at the mo.

2. Can you instantly transfer funds between the 2 accounts (I love this functionality on Smile).

3. How do you pay cash / cheques in (mainly cash, not so worried if I have to post cheques as few & far between). I'd like to be able to use PO as I do with Smile as my job takes me all over, not usually near large shopping centres but you can always find a parade with a PO (till they close them all )

If anyone has any experience of A & L I'd like to know the same please, thanks.

gt94sss2

I image First Direct would be happy to give you more than one current account if you want one..

As for your other questions:

- transfers between different First Direct and/or HSBC accounts are instant
- you can pay cash/cheques in at any HSBC branch. I think in Scotland you may also be able to use the Post Office (but am not sure)

Regards
Sunil

Horace

I bank with First Direct and they are fab. If I want to pay in cheques or cash, I go to my local HSBC and do it there - HSBC and First Direct customers get their stuff cleared the same day.

I have 3 accounts, a current one, a savings one and an ISA and I can move my money about amongst them all quite easily as I do it online. Their internet banking site is easier to use than HSBC (I used to have a business account with them and it was a pain). If I want to talk to someone then I can, 24hrs a day, 365 days of the year - yes, I speak to a real person who is UK based.

They are friendly and you can have a laugh with them - I can remember I rang up to order a new cheque book because I had left mine in a pocket of my trousers - the same trousers that went through the wash with Vanish In-Wash Stain remover. The chequebook came out totally white. I explained the problem to the first advisor and she put me on hold, she came back and said that she was transferring me to her colleague - who then told me that they had all had a good laugh about the fact that I had washed my cheque book:eek: Still, we had a good laugh about it and I recieved the cheque book 2 days' later.

What have you to lose? With the new First Direct offer you can get £100 for opehing an account and another £100 if you decide you don't like it.

What are you waiting for? Ring them today.

Voyager2002

OK, I have banked with all three: First Direct; A and L; and Smile.

Firstly, A and L offer useless customer service and make mistakes. Their interest rates are good, but if you need to rely upon them for anything remotely complicated you will lose more in hassle than you earn in interest.

First Direct are pretty good: they score particularly highly for their telephone banking service. As noted above, there are some irritating features of their web site.

Smile are my favourite, although as noted above their interest rates on savings are rather poor, and getting hold of them by telephone can be a headache.

danthemoneysavingman

I agree with your comments on A&L, switching to them was an expensive headache for me...

pinkthinks

ali007 wrote: »

I love my Smile account but interest is only 3% so am considering moving (as a matter of principle as much as anything, transfer any spare to offset account).

£100 is a nice bribe..... , however I have 3 concerns:

1. Would I be able to open 2 accounts? (I'd only expect 1 £100 ), I need 2 to operate the way I at the mo. I've got 2 current a/cs, 2 savings a/cs and and ISA. The only thing I don't like & I've fed back to them is that you can't rename your accounts, e.g. shopping, etc.

2. Can you instantly transfer funds between the 2 accounts (I love this functionality on Smile). Money transferred internally between them is instant, even on weekends & bank hols.

3. How do you pay cash / cheques in (mainly cash, not so worried if I have to post cheques as few & far between). I'd like to be able to use PO as I do with Smile as my job takes me all over, not usually near large shopping centres but you can always find a parade with a PO (till they close them all ) As far as I'm aware it's only in HSBC branches (you can post chqs in freepost envelopes). Some HSBCs have the automated pay-in machines which means avoiding the lunchtime queue.

If anyone has any experience of A & L I'd like to know the same please, thanks.

I like FD :T

CopperPlate_2

SparciaM wrote: »

Copper Plate - with the phone thing, I meant was:

If you ring FD up and ask them to do something, you yourself cannot do anything or access your account at the same time. I tried to set up a bill payment to Amex, but the list had 2 identical bp's, so I called FD to set up and explained I couldn't do it online as there were 2 identical bp's and the guy basically said I was lying as they only have 1. When I tried to access bp's to explain better I couldn't as he was in my account.

I like to be able to access my account whenever I need, whether it be when talking to them or not - is not the be all - but can be annoying.

I asked FD about getting rid of marketing on the site and they said it can't be done, so I'll try your method. - Tried your method and I get these options:

secure e-message, email and SMS. Saying tick one you do not want. But there is nothing to turn off marketing on the actual banking site. Can you explain in a bit more detail how to do this?!?

Thanks for clearing that up - I didn't know that this happened!

From memory, I think I ticked all the boxes as I didn't want the piles of junk mail, and certainly not text messages bleeping on my phone all day. I don't know if one of those options covers the internet advertising as I don't get it but my OH does. HTH.

seven-day-weekend

I closed my FD account as they wanted to charge me as when I stopped working I was not paying anything into it, but while I was their customer I was very happy with their Customer Service and found it easy to pay money in at HSBC.

Rafter

Been with First Direct all my adult life. 2 mistakes in that time all resolved over the phone with no bother at all.

Sure I could switch and make a few pence more interest a month for worse customer service but why bother!

Just hope not too many moneysavers game the new offer and increase the costs/ reduce the level of service for us loyal customers!

R.

pault123

Some supurb feedback guys. Seems 99% of you reckon FD are the way to go.

I'm very tempted now!

Final questions for someone good with interest %.

To be £1000 overdrawn it costs me £5 a month with A+L.

Based on FD'd £250 int free overdraft - and the next £250 chargable what would.

1. A month at £500 overdrawn cost me?
2. A month at £1000 overdrawn cost me?
3. A month at £1000 overdrawn cost me assuming I get the authed overdraft increased from £500 to £1000 (I think this would mean £250 int free, £750 with %)


Hope the above makes sense! :beer: