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First Direct consistently offer £100 for those who switch their current account to them and meet their 'primary account requirements'.

About once or twice a year, it increases to £125 - which I've been waiting for.

This increase has just happened. This is the first time it's been this high since the funding requirement was dropped from £1500 per month to £1000 per month.

The £225 if you switch and leave is related to the extra £100 you get if you are unhappy with the bank and leave - from what I've been reading online, most people stay.
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marathonic Avatar
2y, 11m agoFound 2 years, 11 months ago
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9 Likes #81
mr-mixalot
Been with Barclays for over 20 years and never had any issues even got 6k back from a PPI claim, but do I really want to switch for the sake of £125

Surely the fact you had a PPI claim in the first place shows you had issues!
#82
Mori
What do you mean by 225 if you leave?
You get an extra 100 quid if you switch away from them when the time's up and say you're not satisfied. I got the joining money but never pursued the leaving money coz when I rang to close the account the guy on the other end of the phone could tell I'd been just transferring money back and forth and hadn't actually tried to use the account normally
#83
karlie88
Ellis456
Halifax was a better deal, I got £100 for switching and then £5 a month every month.

I've got both current accounts.

Halifax is good for the extra £5 per month.

FD is good for their 6% regular saver and great customer service.

How can you keep both active, doesn't your salary have to go into them?
#84
Transfer in.. and actually use them as a bank and you wont want to leave.
There is a reason they are constantly voted at the top of customer satisfaction lists.

I joined and wont be leaving.
1 Like #85
mccririck
mr-mixalot
Been with Barclays for over 20 years and never had any issues even got 6k back from a PPI claim, but do I really want to switch for the sake of £125

Surely the fact you had a PPI claim in the first place shows you had issues!

Yes, but that took 1 letter from me and all I did was sit back and wait for a cheque which arrived within 2 weeks, as someone on here has also mentioned they also had a PPI issue with FD but still remained a customer

I will mull it over
1 Like #86
you use the HSBC branch to pay in/etc, and you do still get the cash if you change from HSBC!
#87
Pretty poor offering all in all, in my opinion an elitist bank that has had to give in and reduce its minimum pay in and up its cash back to get some more customers. No branch network, can't remember the last time I used telephone banking so not a great selling point for me it's not exactly the future of banking, no other incentives for having the account and they have the gaul to charge £10 a month if you can't pay £1000 in??
#88
D_ROX_7
m5rcc
marathonic
m5rcc
marathonic
They also offer a 6% regular savings account, the best on the market.
Poor deal as one is capped to £300 a month for 12 months giving a meagre £92.93 in interest

I know a hell of a lot of people that can only afford to save monthly amounts below £300. The fact is, this is the best buy regular savings product. Point me to a better one that doesn't involve exchanging your money to ruppees and putting it in an Indian bank or something.


I don't doubt you do know such people. I'm just saying to yield a net 2.58% after basic tax in one year is only marginally better (little over £6) than parking £3.6k in a Santander current account at 3%.

Except its Santander. Voted as The worst customer service bank in the UK. first direct offer quality offers & deals but also have the HIGHEST customer satisfaction results, over 90%, and have done for over 10 years.

I don't dispute the customer service aspect. I'm merely stating the interest earned after basic tax, which is why people choose to save.
#89
is their iPhone app decent ?
#90
m5rcc

I don't dispute the customer service aspect. I'm merely stating the interest earned after basic tax, which is why people choose to save.

Yes, if anyone want's to get the best rate of interest after basic tax on savings of up to £300 per month, join First Direct..... they are the top of all the Besy Buy lists for such savings.... :)
#91
I've been with them for over 20 years now. Before them I was with a few of the other high street banks for a few months each.

You can pry my FD account out of my cold dead hands ;-)
#92
marathonic
m5rcc

I don't dispute the customer service aspect. I'm merely stating the interest earned after basic tax, which is why people choose to save.

Yes, if anyone want's to get the best rate of interest after basic tax on savings of up to £300 per month, join First Direct..... they are the top of all the Besy Buy lists for such savings.... :)

I think you definition of 'best' is warped. As said previously, you're capped at £300 a month and can only earn £92 in a year which is the equivalent of 2.58%. Many people, a phrase you like to state, can save over £300 a month. I'd stick to my Santander where I continue to get cashback on my bills and had been paid the £150 bribe (£100 + £50 TopCashback).
#93
In my opinion the best bank out there - exceptional customer service and mobile/online banking is a really easy to use.

Only slight niggle I'd say is that they're about to introduce the keypad security things - makes Internet banking more secure but I've enjoyed just being able to access everywhere without a gadget.

Overall though, great bank - and £125 to switch is definitely hot!
#94
I am with FD and have mixed opinions.

General customer service = great.
Mortgage application = absolute b*****ds.
1 Like #95
m5rcc

I think you definition of 'best' is warped. As said previously, you're capped at £300 a month and can only earn £92 in a year which is the equivalent of 2.58%. Many people, a phrase you like to state, can save over £300 a month. I'd stick to my Santander where I continue to get cashback on my bills and had been paid the £150 bribe (£100 + £50 TopCashback).

Nope, my definition is absolutely perfect. If someone with more than £300 per month to save wants the best rate of interest, the method that's usually best to achieve this is to open a First Direct Regular Saver for £300 per month and investigate the other best buys for the remaining funds.

It's pretty obvious, at this point, that the deal is a good deal (with a temperature >700 degrees) and you're just arguing for the sake of arguing so I'll not be responding to further posts from you.
#96
m5rcc
marathonic
m5rcc
marathonic
They also offer a 6% regular savings account, the best on the market.
Poor deal as one is capped to £300 a month for 12 months giving a meagre £92.93 in interest

I know a hell of a lot of people that can only afford to save monthly amounts below £300. The fact is, this is the best buy regular savings product. Point me to a better one that doesn't involve exchanging your money to ruppees and putting it in an Indian bank or something.

I don't doubt you do know such people. I'm just saying to yield a net 2.58% after basic tax in one year is only marginally better (little over £6) than parking £3.6k in a Santander current account at 3%.

What about the £2 a month charge for having the 1-2-3 account?

Switched over to FD in June, brilliant so far, you can use any HSBC for any branch banking you might need to do, so hot from me!
#97
harj
m5rcc
marathonic
m5rcc
marathonic
They also offer a 6% regular savings account, the best on the market.
Poor deal as one is capped to £300 a month for 12 months giving a meagre £92.93 in interest

I know a hell of a lot of people that can only afford to save monthly amounts below £300. The fact is, this is the best buy regular savings product. Point me to a better one that doesn't involve exchanging your money to ruppees and putting it in an Indian bank or something.

I don't doubt you do know such people. I'm just saying to yield a net 2.58% after basic tax in one year is only marginally better (little over £6) than parking £3.6k in a Santander current account at 3%.

What about the £2 a month charge for having the 1-2-3 account?

Switched over to FD in June, brilliant so far, you can use any HSBC for any branch banking you might need to do, so hot from me!

What about it. £150 cashback to open the account. Almost £83 since account inception eight months ago in bill cashback for the cost of £24 a month. If you are a high earner/spender, one is economically better off with the Santander account.

I choose not to bank with FD or HSBC due to hypocrisy on their behalf.
#98
How long does an online application take on average before a decision is made by them ?
#99
Tallyho
How long does an online application take on average before a decision is made by them ?

I just did it and got accepted right away... can't logon or anything yet so i'm guessing i need to wait for something else to happen?
#100
I did a joint application last night & have heard zilch.
#101
Read the post, 1st page of nonsense (most banks are rather unethical over their lifetimes, Barclays etc, so just pick the best of a bad bunch, Co-op?) but anyway, I can't see why you get £225 if you leave, can we update the post to explain?

THanks
#102
Hatter247
Only slight niggle I'd say is that they're about to introduce the keypad security things - makes Internet banking more secure but I've enjoyed just being able to access everywhere without a gadget.

I felt the same when I saw the announcement , but from what I understand you can still access accounts and make payments where there are existing payee details. The security device is only for things like new payees or standing orders.

At least they are giving options on devices rather than dictating or even worse, insisting software is installed.
1 Like #103
oldino
Pretty poor offering all in all, in my opinion an elitist bank that has had to give in and reduce its minimum pay in and up its cash back to get some more customers. No branch network, can't remember the last time I used telephone banking so not a great selling point for me it's not exactly the future of banking, no other incentives for having the account and they have the gaul to charge £10 a month if you can't pay £1000 in??

Take it or leave it, voted best bank for a number of years now. Any issues I have had they sorted, I have a mortgage and a current account with them. With all due respect if you can't afford or don't want to pay £1000 in every month there is nothing here for you ;)
#104
yourlegaldealer
I am with FD and have mixed opinions.

General customer service = great.
Mortgage application = absolute b*****ds.

My experience from when I gained a mortgage with them is they are cautious lenders. What was your issue?
1 Like #105
m5rcc
harj
m5rcc
marathonic
m5rcc
marathonic
They also offer a 6% regular savings account, the best on the market.
Poor deal as one is capped to £300 a month for 12 months giving a meagre £92.93 in interest

I know a hell of a lot of people that can only afford to save monthly amounts below £300. The fact is, this is the best buy regular savings product. Point me to a better one that doesn't involve exchanging your money to ruppees and putting it in an Indian bank or something.

I don't doubt you do know such people. I'm just saying to yield a net 2.58% after basic tax in one year is only marginally better (little over £6) than parking £3.6k in a Santander current account at 3%.

What about the £2 a month charge for having the 1-2-3 account?

Switched over to FD in June, brilliant so far, you can use any HSBC for any branch banking you might need to do, so hot from me!

What about it. £150 cashback to open the account. Almost £83 since account inception eight months ago in bill cashback for the cost of £24 a month. If you are a high earner/spender, one is economically better off with the Santander account.

I choose not to bank with FD or HSBC due to hypocrisy on their behalf.
m5rcc
harj
m5rcc
marathonic
m5rcc
marathonic
They also offer a 6% regular savings account, the best on the market.
Poor deal as one is capped to £300 a month for 12 months giving a meagre £92.93 in interest

I know a hell of a lot of people that can only afford to save monthly amounts below £300. The fact is, this is the best buy regular savings product. Point me to a better one that doesn't involve exchanging your money to ruppees and putting it in an Indian bank or something.

I don't doubt you do know such people. I'm just saying to yield a net 2.58% after basic tax in one year is only marginally better (little over £6) than parking £3.6k in a Santander current account at 3%.

What about the £2 a month charge for having the 1-2-3 account?

Switched over to FD in June, brilliant so far, you can use any HSBC for any branch banking you might need to do, so hot from me!

What about it. £150 cashback to open the account. Almost £83 since account inception eight months ago in bill cashback for the cost of £24 a month. If you are a high earner/spender, one is economically better off with the Santander account.

I choose not to bank with FD or HSBC due to hypocrisy on their behalf.

Taking the morale high ground with a bank, Santander have awful banking practises in Spain!!!
#106
Similar. My wife and I are good earners and have a clean credit history. It all seemed to be running smoothly until I told them she was on maternity leave.
At that point they excluded her from the application and basically told me that while i would still pass the application as a sole applicant on my income, the would not take the risk regarding my wife having any more children, not returning to work at all etc.

I know they need to protect their money but they made a LOT of assumptions, which together with excluding her completely from the application is pretty naughty IMO.
#107
Hatter247
Only slight niggle I'd say is that they're about to introduce the keypad security things - makes Internet banking more secure but I've enjoyed just being able to access everywhere without a gadget.

Urgh, really? Thanks for the heads up. I hate those things. That could be enough to get me to switch again.
#108
yourlegaldealer
Similar. My wife and I are good earners and have a clean credit history. It all seemed to be running smoothly until I told them she was on maternity leave.
At that point they excluded her from the application and basically told me that while i would still pass the application as a sole applicant on my income, the would not take the risk regarding my wife having any more children, not returning to work at all etc.

I know they need to protect their money but they made a LOT of assumptions, which together with excluding her completely from the application is pretty naughty IMO.

That's strange. I applied for a loan and mentioned maternity leave - they didn't bat an eyelid.
But when all's said and done, no bank is obliged to give you an account, and reduced income is a pretty good reason for them to exercise caution.

Edited By: circuit on Aug 15, 2013 11:27
#109
signed up online and got accepted. Called and activated telephone banking and easyswitch. He also gave me the details to sign up to the online banking. All done in an hour. DD will transfer over in 20days approx.
#110
TKDBlackbelt
m5rcc
harj
m5rcc
marathonic
m5rcc
marathonic
They also offer a 6% regular savings account, the best on the market.
Poor deal as one is capped to £300 a month for 12 months giving a meagre £92.93 in interest

I know a hell of a lot of people that can only afford to save monthly amounts below £300. The fact is, this is the best buy regular savings product. Point me to a better one that doesn't involve exchanging your money to ruppees and putting it in an Indian bank or something.

I don't doubt you do know such people. I'm just saying to yield a net 2.58% after basic tax in one year is only marginally better (little over £6) than parking £3.6k in a Santander current account at 3%.

What about the £2 a month charge for having the 1-2-3 account?

Switched over to FD in June, brilliant so far, you can use any HSBC for any branch banking you might need to do, so hot from me!

What about it. £150 cashback to open the account. Almost £83 since account inception eight months ago in bill cashback for the cost of £24 a month. If you are a high earner/spender, one is economically better off with the Santander account.

I choose not to bank with FD or HSBC due to hypocrisy on their behalf.
m5rcc
harj
m5rcc
marathonic
m5rcc
marathonic
They also offer a 6% regular savings account, the best on the market.
Poor deal as one is capped to £300 a month for 12 months giving a meagre £92.93 in interest

I know a hell of a lot of people that can only afford to save monthly amounts below £300. The fact is, this is the best buy regular savings product. Point me to a better one that doesn't involve exchanging your money to ruppees and putting it in an Indian bank or something.

I don't doubt you do know such people. I'm just saying to yield a net 2.58% after basic tax in one year is only marginally better (little over £6) than parking £3.6k in a Santander current account at 3%.

What about the £2 a month charge for having the 1-2-3 account?

Switched over to FD in June, brilliant so far, you can use any HSBC for any branch banking you might need to do, so hot from me!

What about it. £150 cashback to open the account. Almost £83 since account inception eight months ago in bill cashback for the cost of £24 a month. If you are a high earner/spender, one is economically better off with the Santander account.

I choose not to bank with FD or HSBC due to hypocrisy on their behalf.

Taking the morale high ground with a bank, Santander have awful banking practises in Spain!!!

Most banks in Spain have poor banking practices: it's the nature of business there.
#111
stuartw
Read the post, 1st page of nonsense (most banks are rather unethical over their lifetimes, Barclays etc, so just pick the best of a bad bunch, Co-op?) but anyway, I can't see why you get £225 if you leave, can we update the post to explain?

THanks

They expect you to stay due to their 'fantastic customer service' that no-one would do it. I did and got £300 citing that I wished to have no relationship with HSBC at all.
#112
can you stay with your bank and sign up to FD
#113
smiley19
can you stay with your bank and sign up to FD

Yes
#114
can you stay with your bank and sign up to FD
#115
circuit
yourlegaldealer
Similar. My wife and I are good earners and have a clean credit history. It all seemed to be running smoothly until I told them she was on maternity leave.
At that point they excluded her from the application and basically told me that while i would still pass the application as a sole applicant on my income, the would not take the risk regarding my wife having any more children, not returning to work at all etc.

I know they need to protect their money but they made a LOT of assumptions, which together with excluding her completely from the application is pretty naughty IMO.

That's strange. I applied for a loan and mentioned maternity leave - they didn't bat an eyelid.
But when all's said and done, no bank is obliged to give you an account, and reduced income is a pretty good reason for them to exercise caution.

Loan or mortgage?
My wife's a Pharmacist and I am a Doctor. Our net income would have comfortably paid the mortgage plus usual outgoings plus savings but for some reason they took a very sudden disliking to the fact she was on maternity leave.

I don't take things lying down and I soon discovered the darker side to this award winning customer service bank. Admittedly 'customer service' doesn't necessarily mean 'customer gets what they want' but let's just say they turned pretty ugly with their assumptions.

Google it. They, amongst several other banks are seen as 'maternity unfriendly'.
#116
m5rcc
They expect you to stay due to their 'fantastic customer service' that no-one would do it. I did and got £300 citing that I wished to have no relationship with HSBC at all.

So to fully understand, you signed up to First Direct, received £125
Then you decided to leave them, said you wished not to have a relationship with HSBC and they gave you either £275 or £300 to leave??
#117
yourlegaldealer
circuit
yourlegaldealer
Similar. My wife and I are good earners and have a clean credit history. It all seemed to be running smoothly until I told them she was on maternity leave.
At that point they excluded her from the application and basically told me that while i would still pass the application as a sole applicant on my income, the would not take the risk regarding my wife having any more children, not returning to work at all etc.

I know they need to protect their money but they made a LOT of assumptions, which together with excluding her completely from the application is pretty naughty IMO.

That's strange. I applied for a loan and mentioned maternity leave - they didn't bat an eyelid.
But when all's said and done, no bank is obliged to give you an account, and reduced income is a pretty good reason for them to exercise caution.

Loan or mortgage?
My wife's a Pharmacist and I am a Doctor. Our net income would have comfortably paid the mortgage plus usual outgoings plus savings but for some reason they took a very sudden disliking to the fact she was on maternity leave.

I don't take things lying down and I soon discovered the darker side to this award winning customer service bank. Admittedly 'customer service' doesn't necessarily mean 'customer gets what they want' but let's just say they turned pretty ugly with their assumptions.

Google it. They, amongst several other banks are seen as 'maternity unfriendly'.

Oh, and with regards to reduced income, her maternity pay more than paid for the mortgage. And that's without my full-time horrific hospital hours take-home pay.

What surprised me most is that they didn't seem to engage their brains. I can only imagine that these sorts of applications are entirely automated...
#118
stuartw
m5rcc
They expect you to stay due to their 'fantastic customer service' that no-one would do it. I did and got £300 citing that I wished to have no relationship with HSBC at all.

So to fully understand, you signed up to First Direct, received £125
Then you decided to leave them, said you wished not to have a relationship with HSBC and they gave you either £275 or £300 to leave??

At the time, £100 to sign up, £200 to leave, so £300 in total
1 Like #119
yourlegaldealer
yourlegaldealer
circuit
yourlegaldealer
Similar. My wife and I are good earners and have a clean credit history. It all seemed to be running smoothly until I told them she was on maternity leave.
At that point they excluded her from the application and basically told me that while i would still pass the application as a sole applicant on my income, the would not take the risk regarding my wife having any more children, not returning to work at all etc.

I know they need to protect their money but they made a LOT of assumptions, which together with excluding her completely from the application is pretty naughty IMO.

That's strange. I applied for a loan and mentioned maternity leave - they didn't bat an eyelid.
But when all's said and done, no bank is obliged to give you an account, and reduced income is a pretty good reason for them to exercise caution.

Loan or mortgage?
My wife's a Pharmacist and I am a Doctor. Our net income would have comfortably paid the mortgage plus usual outgoings plus savings but for some reason they took a very sudden disliking to the fact she was on maternity leave.

I don't take things lying down and I soon discovered the darker side to this award winning customer service bank. Admittedly 'customer service' doesn't necessarily mean 'customer gets what they want' but let's just say they turned pretty ugly with their assumptions.

Google it. They, amongst several other banks are seen as 'maternity unfriendly'.

Oh, and with regards to reduced income, her maternity pay more than paid for the mortgage. And that's without my full-time horrific hospital hours take-home pay.

What surprised me most is that they didn't seem to engage their brains. I can only imagine that these sorts of applications are entirely automated...

Absolutely they are, and it's a scandal. Not only that, the appeals process appears to be so as well. Just forget about appealing if you've been rejected. When I was temporarily unemployed, I applied for a bog standard Coop account in order to get their cashback deal. When I was rejected, I appealed, given them proof of clear credit history and more than £10k in savings IN A COOP SAVINGS ACCOUNT, and was still rejected. My mother, a pensioner, recently applied for a Halifax Clarity card and was rejected, even though she has £20k IN A HALIFAX SAVINGS ACCOUNT. When we were visiting her local branch shortly after, they offered the same card to her and I told them she had tried getting one online and was rejected - a few days later, she received a letter from the Halifax stating their systems experienced a 'temporary problem processing new applications', and invited her to try again in person. What BS! Basically, if you're old, unemployed or sick you can forget about financial services online -you will be filtered out even if you're fairly wealthy, with a clean credit history.

One day we'll wise up to all this economic apartheid and stop paying our taxes to a complicit and ethically indistinct political class, who act only in the interests of the monied classes.
#120
This lot don't, and haven't in the past want my business .... no idea why, my credit record is squeaky clean, different lines of credit from here and there that have never missed a beat, not using a lot of credit and they still won't give me a current account.

...Ho hum.

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