Totally fed up with Halifax, so did some research on line for the best bank account, switched to First Direct, get £150 for doing it and they get the best customer services rating.
I filled in their application and that was it, it just went through as application complete, account open? Lad at work said that's the way it works, everything just transfers accross to it now over the next week, I don't have to do anything, don't tell work or any companies I pay?
Is this right? I thought it was going to be a right ballache.
Yep, very straightforward these days. I change bank accounts about 3 times a year to take advantage of all the bribes. Free money!
So all the direct debits, wages all just auto transfer over? I just take my £150?
Yeah I did the same move to FD and it really was that easy.
Anything going out is just swapped over, money coming in is diverted from your old account to your new one for a year if the old account is closed. After that payments will be returned. So make sure you tell your employer and anyone else who regularly pays money into your account.
I change bank accounts about 3 times a year to take advantage of all the bribes. Free money!
we did the same and switched to FD, but i thought it was in the t&c's you got to stay for a year?
Just run three or four accounts, we used to do this.
BTW, there will probably be a couple of hiccups of the next few months, i.e. quarterly payments might be missed, usually doesn't cause a problem. 5 minutes on the phone and its usually sorted.
I did this after NatWest royally annoyed me over a few quid in bank charges . First Direct were excellent the only regular payment that did not cross over seemlessly was a recurring purchase of a giffgaff goody bag because of the way it works it is set up at giffgaffs end not the bank.
The first phone contact with FD takes a while and requires all your and any partners old bank details and personal info but thereafter their phone service is really good.
I've been with FD for many years now - very happy with their service.
I find the plethora of passwords, apps and pins you now need for online banking with FD annoying.
Are all the banks taking this approach to 10 pound bacs transfers?
Thought it was good practice to have a good long term current account and relationship with one bank?
Is changing your current account 3 times a year good for your credit rating?
Scandal42 that is what I thought hence 32 years with NatWest but my loyalty had no value to them they called me in tried to sell me a product I did not want that their staff could not explain they had paid a bonus to the staff member who identified me as a target for the product when I declined to sign I was told that I was lucky I had not been charged for the appointment I never asked for. Then my recent gripe while in massive credit overall one of my accounts was od for about 48 hours I checked it by chance and immediately transfered funds . the next day I was told I was being charged the next day I got my agreed text warning to transfer funds to avoid a charge . when I rang to challenge I was first told as I was within my agreed od I should not be charged then told I would be . customer service then failed to call within 48 hours as agreed then wrote a letter that made no sense when I rang despite the letter saying any one in the team could help the right person was not available the team member agreed the letter was wrong and prommised a response the next day it did not come . So loyalty to a bank gets you no perks.
Transfering a healthy account does not effect your credit rating.