First Direct query

munk

On my reading of the t&cs, to qualify for the £100 leaving money you only have to have paid in £1500 per month regardless of whether you've maintained a minimum average balance of £1500 over the first 6 months - maintaining a minimum balance through the first 6-12 months is not a requirement for the £100 leaving money.

However, if you're not bothered about the £100 leaving money and you don't want the hassle of transferring in £1500 per month then you can just keep an average balance of £1500 or more - or open one of their related products like a savings account etc.

Merlot

I too have transferred over to First Direct to get the £100 after 3 months and I was then going to leave them to get another £100, but they are fantastic, there CS is second to none, I have been with a another internet bank for almost 8 years, intelligent Finance and I have got to say First Direct in my opinion is probably one of the best banks I have ever dealt with, I may lose out on the £100 for not leaving them, but its worth it, I like to deal with a real person each time I phone, none of this, press 1 or press 2.

BTW, the min is £1500, and Rob, you haven't abided by the T & C's, so you will not get your payout from the Halifax or FD. The small print is there for a reason, you need to read it more carefully.


Merlot.x.

eaustin

Merlot wrote: »

I too have transferred over to First Direct to get the £100 after 3 months and I was then going to leave them to get another £100, but they are fantastic, there CS is second to none, I have been with a another internet bank for almost 8 years, intelligent Finance and I have got to say First Direct in my opinion is probably one of the best banks I have ever dealt with, I may lose out on the £100 for not leaving them, but its worth it, I like to deal with a real person each time I phone, none of this, press 1 or press 2.

BTW, the min is £1500, and Rob, you haven't abided by the T & C's, so you will not get your payout from the Halifax or FD. The small print is there for a reason, you need to read it more carefully.


Merlot.x.

Merlot - what T&C's has Rob not abided by?

I am in the process of opening up a First Direct account with the intention of depositing £1,500 and then returning it from whence it came. I can't see anything in their T&C's preventing this? Have I missed something?

In addition on their website under satisfaction guaranteed it says 'if you're not happy with FD after six months we'll help you to move to another bank and give you £100 (subject to conditions)' - I can't find what these 'conditions' are.

Any pointers appreciated.

Ed

YorkshireBoy

eaustin wrote: »

Merlot - what T&C's has Rob not abided by?

None actually, unless the payment in was not a BACS Direct Credit salary payment, but they may argue he was abusing the account/incentive. Having said that, he made the call a little early (5 days after he paid in and immediately withdrew, so perhaps he's drawn a little too much attention to himself). Rob's other grumble related to a Halifax offer from last year.

I am in the process of opening up a First Direct account

If you haven't yet made the application, an extra incentive payment may be had from a referral. Take a look at the FD referral thread here...

http://forums.moneysavingexpert.com/showthread.html?t=742377

with the intention of depositing £1,500 and then returning it from whence it came. I can't see anything in their T&C's preventing this? Have I missed something?

I assume you mean via a salary mandate? I'm not planning on making it my main account, but I intend to pass a few transactions (of different types) through the account so as not to give them anything to prevent me getting my £100 for leaving in September.

In addition on their website under satisfaction guaranteed it says 'if you're not happy with FD after six months we'll help you to move to another bank and give you £100 (subject to conditions)' - I can't find what these 'conditions' are.

The only thing I could find was the need to mandate the salary for 6 months and cancel between 6 and 12 months in...

**We know you'll prefer banking with us - and if for some reason you don't, we'll help you move to another bank and give you an additional £100. Here's how our Service Guarantee works. If you are a new customer we'll pay £100 per customer or joint relationship if you close your 1st Account within 12 months of opening it, as long as a salary or income of £1500 or more has been paid into that account for at least 6 months, and you haven't previously banked with first direct. We'll pay the £100 into your 1st Account prior to its closure. All accounts with first direct have to be closed and your 1st Account transferred to another bank/building society.

http://www.firstdirect.com/1st-account/overview.shtml?WT.ac=BA0007

eaustin

If you haven't yet made the application, an extra incentive payment may be had from a referral. Take a look at the FD referral thread here...

http://forums.moneysavingexpert.com/showthread.html?t=742377

Unfortunately I've already applied.

I assume you mean via a salary mandate? I'm not planning on making it my main account, but I intend to pass a few transactions (of different types) through the account so as not to give them anything to prevent me getting my £100 for leaving in September.The only thing I could find was the need to mandate the salary for 6 months and cancel between 6 and 12 months in...[/QUOTE]

As far as I was reading it it says 'transfer your salary/income of at least £1500 within 3 months' which I understood as long as > £1,500 is transferred into the account every month you qualify for the £100. Am I wrong? If it definitely needs to be my salary then so be it. I was also intending to put a few transactions through the account. Isn't a regular transfer in excess of £1,500 sufficient?

YorkshireBoy

eaustin wrote: »

As far as I was reading it it says 'transfer your salary/income of at least £1500 within 3 months' which I understood as long as > £1,500 is transferred into the account every month you qualify for the £100. Am I wrong? If it definitely needs to be my salary then so be it. I was also intending to put a few transactions through the account. Isn't a regular transfer in excess of £1,500 sufficient?

You might get the first £100 if you're lucky (see post #10, I should have an answer by Wednesday this week), but I'm sure they'll closely examine your account conduct/funding before paying out the £100 'leaving present'.

Personally, I've switched my salary from February onwards and will leave it there until I have the second £100 safely in the bag!

eaustin

Thanks YB.

I would argue that their T&C's don't stipulate that, but for the sake of ensuring both lots of £100 it may be sensible to do it. It's really not that much hassle.

I shall watch for your updates as you sound as though you're ahead of me particularly with regard to closing the account and successfully getting the second £100.

Baggio

Just been wondering - has anyone "switched" over from HSBC/been a regular customer of HSBC and received this First Direct incentive? Given that FD is more or less a separate trading entity of HSBC, I have been thinking if I would stand a chance of taking this offer.

YorkshireBoy

Baggio wrote: »

Just been wondering - has anyone "switched" over from HSBC/been a regular customer of HSBC and received this First Direct incentive? Given that FD is more or less a separate trading entity of HSBC, I have been thinking if I would stand a chance of taking this offer.

The offer T&C's specifically mention ex-First Direct customers, but DO NOT mention current/ex-HSBC customers, so I'd say yes you could switch to FD and bag the incentive.

Be aware though, that you only have to switch your salary. There's no requirement to switch DD's/SO's etc...unless of course you want to?

MartynwithaY

I am in the process of switching to FD from HSBC (who I've been with for over 10 years) and I havn't had any problems.

My wages where paid in today (FD account), so now I'm just waiting for the £100 to show up!