Anyone changed Current accounts to a different bank?

Hedge

Hedge

Hedge

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Ive been banking with Lloyds TSB all of my life but I dont think they offer the best service over competition.

Im looking at moving my current account to a different bank.

Currently I have a £500 overdraft and 3 direct debits on my account that would need moving. (Ill probably just clear the overdraft first to be honest).

I see First Direct offer £100 incentive to bank with them, and their regular saver with 8% looks quite appealing to me too.


So.. Anyone got any input on moving banks?

Thanks :)
 
It's very easy. You apply for an account with the new bank and they'll send you a form to sign. This will move your SODDs over. They'll usually give you a form to give to your employer will which move your salary to the new bank.
 
Excellent. Thats the bit thats worrying me. I dont want to end up screwing up Direct debits in any way and missing payments.

Would that fact that Im currently overdrawn with Lloyds be an issue? Lloyds wont just close my account and sting me or anything will they?
 
I move all the time whenever there is a cashback offer.

So far, this has been my bank history:

While at Uni = Halifax, then Natwest for a bigger overdraft.
Llyods
Co-Op
Alliance & Leicester (cashback + 6% interest for current account - a few years ago)
Santander
Halifax (cashback plus £5 per month)
Co-Op (cashback)

Currently still with Co Op and very happy with them.

I abuse Halifax as much as I can by keeping a zero balance but getting the £5 per month payment and cashback on my credit card.

:D

Screw the banks as much as you can.
 
changing to first direct is the easiest thing in the world, and the couple of time i've had to phone them, i've had a person answer the phone in two rings.
 
PMKeates said:
first direct are fantastic. Move.. move now!
Click to expand...

Id like to move to FD but I saw on one of the comparision sites that you have to have a mimumum of £1500 incoming/month into your current account? I only have £1200/mo

I have heard they are really good and and that their internet banking interface is great.

Do they have stuff like texts-alerts and all that?
 
You need 1500 to qualify for the £100 cashback I think. but you are fine on 1200pm other than that.

They do all the text alert stuff too.
 
KatanaDV20 said:
Id like to move to FD but I saw on one of the comparision sites that you have to have a mimumum of £1500 incoming/month into your current account? I only have £1200/mo

I have heard they are really good and and that their internet banking interface is great.

Do they have stuff like texts-alerts and all that?
Click to expand...
Correct on the minimum of £1500 per month, and yup, they do have text alerts, although I don't use them.

By far and away the best thing about first direct is that on the odd occassion you need to speak to them they aren't idiots.
Hedge said:
You need 1500 to qualify for the £100 cashback I think. but you are fine on 1200pm other than that.

They do all the text alert stuff too.
Click to expand...
If you do not pay £1500 per month in to your account, or maintain £1500 or more in there, or "hold a first direct mortgage, credit card, personal loan, savings account (excludes Regular Saver Account), First Directory, or first direct car or home insurance policy", you are charged a £10 fee.

http://www2.firstdirect.com/1/2/rat...ssionid=0000egGn0SXf96wTpq0HPZaTRtz:11jkiufhq
 
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PMKeates said:
Correct on the minimum of £1500 per month, and yup, they do have text alerts, although I don't use them.

By far and away the best thing about first direct is that on the odd occassion you need to speak to them they aren't idiots.If you do not pay £1500 per month in to your account you are charged a £10 fee.
Click to expand...


Hedge said:
You need 1500 to qualify for the £100 cashback I think. but you are fine on 1200pm other than that.

They do all the text alert stuff too.
Click to expand...

Thanks for that info guys, Ill go to the site now and have a poke around :D

Update: As much as Id like to my incoming of £1200 means I wont be able to sign up. Will keep poking about for others...
 
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KatanaDV20 said:
...
Update: As much as Id like to my incoming of £1200 means I wont be able to sign up. Will keep poking about for others...
Click to expand...

What you could do is this:

1. Open FD current account
2. Transfer 1 month of salary into the account and add an additional £300 to make up the £1500.*
3. Receive the £100 bonus
4. Set up a savings account (even with just £1). This will prevent you having to put a further £1500 in each month.


* When I spoke to an FD rep, he said this was entirely possible. They just want to see £1500 enter the account. It can be from any source.

I have since switched from FD as my main account provider to Halifax for their Reward Current Account. I received £100 as a bonus and continue to receive £5 every month. I have kept my FD current account open so I can continue to use (and apply for new) FD 8% regular saver accounts. The FD current account receives £300 each month from my Halifax account and pays it into my FD 8% regular saver a few days later. I also have a standard FD savings account (an old regular saver that matured and got converted) which ensures that I don't get charged for the FD current account (and thus can perpetually have a FD 8% regular saver).
 
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Get an existing FD customer to refer you and they'll get £50 (which I suppose you could split).
 
-Ad- said:
Sloooow!

Sit at pc.
Faster payments 1k into Halifax 1.
Transfer 1k into Halifax 2.
Transfer 1k into Halifax 3.
Faster payments 1k back to main current bank.

10mins, earn 15 quid each month :D
Click to expand...

Nice! You even put me to shame!

Mind you, Halifax pay me about £15 - £20 a month for my use of their cashback card because I use it to pay for all my business expenses. ;)

:D
 
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