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First Direct: £125 if you switch and stay, £225 if you switch and leave
First Direct: £125 if you switch and stay, £225 if you switch and leave

First Direct: £125 if you switch and stay, £225 if you switch and leave

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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.

224 Comments

Original Poster

They also offer a 6% regular savings account, the best on the market.

Is the bribe provided from the proceeds of laundered money?

Original Poster

m5rcc

Is the bribe provided from the proceeds of laundered money?



So you voted down the deal because you think First Direct are laundering money so that they can pay us to switch our account to them?
Edited by: "marathonic" 14th Aug 2013

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

marathonic

So you voted down the deal because you think First Direct are laundering … So you voted down the deal because you think First Direct are laundering money so that they can pay us to switch our account to them? I have no response to that rediculous idea.



I don't think. I know HSBC launder money.

Original Poster

m5rcc

Poor deal as one is capped to £300 a month for 12 months giving a meagre … 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.

marathonic

I know a hell of a lot of people that can only afford to save monthly … 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.



Exactly, there is no better one. I always do this each year with my FD account as I might as well, get any little bit of interest that you can nowadays.

Not very often I say this about a bank but I've never had any issues with them, love the way they answer the phone from a UK call centre within a few rings and always really polite and sort out issues right away. Would highly recommend them and tbh, at this great deal you'd be crazy not to give them a go.

marathonic

I know a hell of a lot of people that can only afford to save monthly … 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%.

greencode

Exactly, there is no better one. I always do this each year with my FD … Exactly, there is no better one. I always do this each year with my FD account as I might as well, get any little bit of interest that you can nowadays.Not very often I say this about a bank but I've never had any issues with them, love the way they answer the phone from a UK call centre within a few rings and always really polite and sort out issues right away. Would highly recommend them and tbh, at this great deal you'd be crazy not to give them a go.



Gave them a go two years ago: took the £100 entry and the £200 exit.

Switched last time it was £125
Was a breeze, got the bonus within a month and have had no issues.
HOTTTT

Have you really been waiting for them to offer an extra £25 to their join up reward before switching? Hitting refresh ever day?

Original Poster

wirralsman

Have you really been waiting for them to offer an extra £25 to their join … Have you really been waiting for them to offer an extra £25 to their join up reward before switching? Hitting refresh ever day?



I get the weekly moneysavingexpert email and know it would have been included in that - got it this morning. I've been in no hurry to join up and thought I may as well leave it until they offer it again.
Edited by: "marathonic" 14th Aug 2013

Another point to mention here is that if you have signed up previously, you cannot get the bonus again.

i signed up a few weeks back, not been paid yet can i try and blag 125 ?

Original Poster

swafe

i signed up a few weeks back, not been paid yet can i try and blag 125 ?



It might be worth asking - but don't cancel and reapply. You'd probably get no bonus that way and, in reapplying, you'd have another credit check against your credit report.

Excellent! I'm glad I waited just a little bit longer.

Anyone know, do I have to switch to a certain account or any? Thanks

m5rcc

I don't doubt you do know such people. I'm just saying to yield a net … 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%.



Your comparing chalk and cheese. Like said earlier some people do not have over £300 a month to save (never mind £3.6k in one lump sum)

The bank is fantastic, the customer service is second to none. Ring up and someone from the UK will answer after one ring. My bonus is on it's way into my account.

marathonic

So you voted down the deal because you think First Direct are laundering … So you voted down the deal because you think First Direct are laundering money so that they can pay us to switch our account to them?

there r always some bunch ofmoaners on this website

sent a cheeky message, you never know

greencode

Exactly, there is no better one. I always do this each year with my FD … Exactly, there is no better one. I always do this each year with my FD account as I might as well, get any little bit of interest that you can nowadays.Not very often I say this about a bank but I've never had any issues with them, love the way they answer the phone from a UK call centre within a few rings and always really polite and sort out issues right away. Would highly recommend them and tbh, at this great deal you'd be crazy not to give them a go.



Ditto Greencode! I have been with them since 1994 and they have been brilliant. The icing on the cake was when I was contacted about PPI. I rang them and asked them if I had PPI on anything....turns out I did......and they gave me £6,700 .....an amazing result.....I definitely passed Go with that payout (_;)

I have been with first direct for 20 years and they are brilliant. You ring THE number and usually within 30 seconds you are talking to a British person. None of this press 1 for this or that rubbish. I save £300 a month In the regular saver too.

Switched last month and have recieved my £100 bonus very quickly but also failed to pay 2 direct debits resulting in charges of £12 a go from cc companies and god knows what it has done to my credit rating which previous to switching would have been perfect buyer beware

labhras

Switched last month and have recieved my £100 bonus very quickly but also … Switched last month and have recieved my £100 bonus very quickly but also failed to pay 2 direct debits resulting in charges of £12 a go from cc companies and god knows what it has done to my credit rating which previous to switching would have been perfect buyer beware



How is it their fault you did not pay your bills?

gambit1

Your comparing chalk and cheese. Like said earlier some people do not … Your comparing chalk and cheese. Like said earlier some people do not have over £300 a month to save (never mind £3.6k in one lump sum) The bank is fantastic, the customer service is second to none. Ring up and someone from the UK will answer after one ring. My bonus is on it's way into my account.



And as I said also, it's a maximum of £93 interest

ukpostgrad

there r always some bunch ofmoaners on this website



Who's moaning?! I'm stating a fact.

I offer £12K to those who switch to my bank; you don't have to leave your current one.

labhras

Switched last month and have recieved my £100 bonus very quickly but also … Switched last month and have recieved my £100 bonus very quickly but also failed to pay 2 direct debits resulting in charges of £12 a go from cc companies and god knows what it has done to my credit rating which previous to switching would have been perfect buyer beware



How long did they take to pay you the £100 switched about 2 months ago nothing yet, used their DD t/f service etc

Charge £10 a month if you don't pay in £1500 a month

From website: Is there a charge to bank with first direct?

Banking with first direct usually costs £10 a month, but you will not be charged this fee for the first six months from account opening, when you pay in at least £1,000 to your 1st Account each month, or maintain an average monthly 1st Account balance of £1,000, or you hold a selected first direct additional product. Take a look at our Interest rates and charges for more details of other additional products.

Is there a charge to bank with first direct?
Banking with first direct usually costs £10 a month, but you will not be charged this fee for the first six months from account opening, when you pay in at least £1,000 to your 1st Account each month, or maintain an average monthly 1st Account balance of £1,000, or you hold a selected first direct additional product. Take a look at our Interest rates and charges for more details of other additional products.


You actually have to pay the bank £10/month just to use them? **** that.

Halifax was a better deal, I got £100 for switching and then £5 a month every month.

komi

Charge £10 a month if you don't pay in £1500 a month




simonmag70

From website: Is there a charge to bank with first direct? Banking … From website: Is there a charge to bank with first direct? Banking with first direct usually costs £10 a month, but you will not be charged this fee for the first six months from account opening, when you pay in at least £1,000 to your 1st Account each month, or maintain an average monthly 1st Account balance of £1,000, or you hold a selected first direct additional product. Take a look at our Interest rates and charges for more details of other additional products.




puzl

Is there a charge to bank with first direct? Banking with first direct … Is there a charge to bank with first direct? Banking with first direct usually costs £10 a month, but you will not be charged this fee for the first six months from account opening, when you pay in at least £1,000 to your 1st Account each month, or maintain an average monthly 1st Account balance of £1,000, or you hold a selected first direct additional product. Take a look at our Interest rates and charges for more details of other additional products.You actually have to pay the bank £10/month just to use them? **** that.



Or open an Everyday e-saver and stick £1 in it; that way you avoid the £10 fee.

Ellis456

Halifax was a better deal, I got £100 for switching and then £5 a month e … 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.

Im also with Halifax but I've heard FDs customer service to be outstanding and I find that I have more arguments then help with Halifax.

From looking at that, you could just set up a standing order of £1000 from yourself to youself and you won't be charged the £10pm.

komi

Charge £10 a month if you don't pay in £1500 a month

simonmag70

From website: Is there a charge to bank with first direct? Banking … From website: Is there a charge to bank with first direct? Banking with first direct usually costs £10 a month, but you will not be charged this fee for the first six months from account opening, when you pay in at least £1,000 to your 1st Account each month, or maintain an average monthly 1st Account balance of £1,000, or you hold a selected first direct additional product. Take a look at our Interest rates and charges for more details of other additional products.

puzl

Is there a charge to bank with first direct? Banking with first direct … Is there a charge to bank with first direct? Banking with first direct usually costs £10 a month, but you will not be charged this fee for the first six months from account opening, when you pay in at least £1,000 to your 1st Account each month, or maintain an average monthly 1st Account balance of £1,000, or you hold a selected first direct additional product. Take a look at our Interest rates and charges for more details of other additional products.You actually have to pay the bank £10/month just to use them? **** that.



Clever

Did this last year, theres no danger of them having to pay me £225, such a great, hassle free bank... would take something serious to happen to make me change

gambit1

How is it their fault you did not pay your bills?


Cause they meant to switch all your DDs over and obviously f'ed it up.

They specifically say they will pay any fees resulting from them f'ing up the transfer

Santander did the same to me - didn't pay my DDs resulting in late payment charges and having my Sky turned off. Lots of black marks on my credit rating. That's what puts me off changing banks again despite me hating Santander. They have a nasty habit of cancelling my debit card mid shopping spree. Also crap interest on savings.

if you change from HSBC to FD, do you also get the £125?
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