First Direct offers £150 for switching your current account
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First Direct offers £150 for switching your current account

136
Found 20th Feb 2016
First Direct offers £150 for switching your current account

136 Comments

Got a couple of questions..
Does switching accounts affect credit rating?
Can I switch again to another bank after the incentive is paid?

hu55ey

Got a couple of questions..Does switching accounts affect credit … Got a couple of questions..Does switching accounts affect credit rating?Can I switch again to another bank after the incentive is paid?



​yes it does and yes you can. They will do a credit search when you apply for the new account

Fabulous bank. Switched from Lloyds TSB and never regretted it. Customer service at First Direct outstanding - when I accidentally ordered goods that turned out to be fake, they immediately reimbursed me the money before investigating it. I'd switch if I were you.

I

Does switching accounts affect credit rating?



Not sure if I believe them ,but HSBC told me that if you don't apply for an overdraft, the credit search has the smaller footprint on your record

Do you have to pay £1000 in every month or in total over the 3 months??

manicmidlander

​yes it does and yes you can. They will do a credit search when you apply … ​yes it does and yes you can. They will do a credit search when you apply for the new account



Thanks. I somehow ended up with 2 Current Accounts with NatWest, 1 which I hardly use. Tempted to switch that over

sammyj1988

Do you have to pay £1000 in every month or in total over the 3 months??



From what I understand it's £1000 in total over 3 months

One thing I'm not very keen on is paying the £10 monthly fee after 6 months

hu55ey

One thing I'm not very keen on is paying the £10 monthly fee after 6 … One thing I'm not very keen on is paying the £10 monthly fee after 6 months


Only payable if you don't pay on the minimum monthly amount.

probably have paid you switching fee by then, so just switch again.

bevers

probably have paid you switching fee by then, so just switch again.



Thanks

Yeah true. Easy money eh

I had an account and closed it about 5 years ago - does anyone know if this is for new accounts only or whether I will be able to get this deal? Don't want to apply and it affect my credit rating especially if I'm refused! And are they still doing £100 exit bonus after 6 months if you're not happy? Thanks in advance

basergorkobal

Only payable if you don't pay on the minimum monthly amount.


Thanks


nice2bnice

I had an account and closed it about 5 years ago - does anyone know if … I had an account and closed it about 5 years ago - does anyone know if this is for new accounts only or whether I will be able to get this deal? Don't want to apply and it affect my credit rating especially if I'm refused! And are they still doing £100 exit bonus after 6 months if you're not happy? Thanks in advance


I now know the answers to all the above (I read the T&Cs myself!!) looks like I can't apply. Still hot from me for those that can get it

Great bank, but few benefits other than good service. Switched back to nationwide who offer free account benefits such as in account interest, travel insurance and nationwide select credit card for perfect exchange rates on purchases no fees. My wife had a dormant account so took advantage of the refer a friend offer 200 QUID. two select credid cards 25 each cash via quidco and another 25 each from nationwide. 300 cashback total and service is good.

Make sure your name matches exactly to that of your old account, I wasnt allowed to switch, asked to transfer from another account I had and said 'OK, but you won't get switching bonus as you're no longer a new customer!!'. Then setup a regular saver and noticed after 3 months my balance was still £300. Apparently they had been taking the money but out it in wrong account. Useless tw*ts.

They will do a soft credit search on your account, which is routine for most companies if you apply for a mobile contract, do an insurance quote etc. hard search is for mortgages, loans, credit cards etc.

This seems pretty good. No direct debits to switch over either. But what about the fee? If after six months you do not pay £1,000 per month into your 1st Account you may have to pay a fee of £10.

So, aslong as you pay in £1000 every six months there wont be a charge?

skaterboy

INot sure if I believe them ,but HSBC told me that if you don't apply for … INot sure if I believe them ,but HSBC told me that if you don't apply for an overdraft, the credit search has the smaller footprint on your record



​complete rubbish that mate

If you open up a savings account with them and put in £1 or more, you don't need to pay the monthly fee

TommyUK

This seems pretty good. No direct debits to switch over either. But what … This seems pretty good. No direct debits to switch over either. But what about the fee? If after six months you do not pay £1,000 per month into your 1st Account you may have to pay a fee of £10.So, aslong as you pay in £1000 every six months there wont be a charge?



No, the £10 fee is waived the first 6 months. After that you will have to pay but only if you don't pay in £1000 a month, have an average balance over £1000 or have another FD product (CC, mortgage).

Great bank, easy switching service and customer service is perfect, phone is always answered after a couple of rings.

Do these get posted every week now?

No charge when paying in £1000 a month or take a credit card and you don't pay the charge regardless of what you put in.

I switched just over a year ago as I was P'd off at the silly overdraft charges Barclays were bringing in.

I was tempted to switch again getting £100 from First Direct for leaving within a year and also £120 from another bank, but I am so impressed with First Direct I wanted to stay.

I must admit I was tempted to tell them to stuff it when HSBC were talking of leaving the UK, but looks like they are going to stay now.

bbeettaa

Do these get posted every week now?


Every 9 days actually.

Thank you op, heat added

A1RN

No, the £10 fee is waived the first 6 months. After that you will have to … No, the £10 fee is waived the first 6 months. After that you will have to pay but only if you don't pay in £1000 a month, have an average balance over £1000 or have another FD product (CC, mortgage).



OK cheers, that makes sense

ontheqt

Great bank, but few benefits other than good service. Switched back to … Great bank, but few benefits other than good service. Switched back to nationwide who offer free account benefits such as in account interest, travel insurance and nationwide select credit card for perfect exchange rates on purchases no fees. My wife had a dormant account so took advantage of the refer a friend offer 200 QUID. two select credid cards 25 each cash via quidco and another 25 each from nationwide. 300 cashback total and service is good.


Hi I don't understand how u got 25 from quidco and 25 from nationwide. Thanks

Been with them for a few years (used as a second bank account) never had a monthly fee and rarely pay in more than 300 a month and that is transferred to the 6% saving account.

first direct not as good as they used to be.

I've used them for 12 years and I've noticed a decline.

I'll be leaving soon

Just applied. Seems good enough. Will probably do the credit card application too for an easy £25.

They need to make the terms and conditions clearer on when you have to pay for the account. Also, why do I have to call them before 9am on the day of the switch, annoying. Just do the switch.

What's to stop someone opening a current account with another bank, putting £5 in and then switching to earn £150??

Isn't the mobile app a bit rubbish? The app is basically my only interaction with my bank so it's important.

maximoshark

Isn't the mobile app a bit rubbish? The app is basically my only … Isn't the mobile app a bit rubbish? The app is basically my only interaction with my bank so it's important.



Previous versions of the FD app were indeed rubbish - but current version is quite good & has decent security

I've been with FD since they started & see no reason to switch. I rarely need to speak with them , but when I do they are always very efficient & you feel you are talking to someone who understands you & is not simply following a script.

sebs

first direct not as good as they used to be.I've used them for 12 years … first direct not as good as they used to be.I've used them for 12 years and I've noticed a decline.I'll be leaving soon


Pointless comment unless you explain why.

Coffee100

What's to stop someone opening a current account with another bank, … What's to stop someone opening a current account with another bank, putting £5 in and then switching to earn £150??



Nothing.

We've been at it for over a year.

Does the account you're transferring from have to have any active direct debits? I can't see any mention of it, but I don't want to try then find my unused account doesn't qualify and I'm no longer eligible for the offer.

karlie88

Nothing.We've been at it for over a year.



With the added bonus of a destroyed credit rating! Great advice!!

Taz1529

With the added bonus of a destroyed credit rating! Great advice!!



Plenty of HUKDers have had no/minimal impact on their credit score and they're over £1000 better off for less than a day's work.
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