Should I switch to First Direct?

pault123 · 12 January 2008 at 12:21AM

Hi guys,

Got a rather tempting £100 joining letter from first direct. A few questions

1. can the minimum £1500 a month come from different sources? (ie part from salary and part from a credit half way through the month)
2. Are you charged for this text service they offer (it sounds like a great idea if its free)
3. Is the £250 int free overdraft the most new customers can get? (ideally I want a £1000 authed overdraft like my Alliance and Leicester)
4. How good is the internet banking software? (my HSBC account is really unintuitive and basic)

Thanks

SparciaM · 12 January 2008 at 12:35AM

You don't need to pay in £1500, just open a savings account with 1p in it and you wont have to pay the £10pm charge. But I do think they £1500 has to come from wages but not sure.

I think the text service is free until end of Jan/feb and then you pay.

OD is £500 standard and first £250 is interest free. I tend to transfer wages directly out of C/A as pays no interest into the everyday e-savings at 5.25% and then everytime my OD hits -£250 just transfer £250 back across. That way I have a C/A paying 5.25%

Internet site is ok. Quite advanced and you do jump through some hoops at times to get it working. Needs a lot changing IMO, but then other people find it really good.

Big thing for me, is the advertising on it - whereas all my other banking including HSBC never had. You can't delete a bill payment, so have to wait 13 months of inactivity before it drops off. You can't see the secure messages you've sent or a record of any correspondence via the site to FD and you can't access your account if you phone them up. Only 1 person can access an account at any one time.!. Bar that, they're not bad.

They have their ups and their downs, but overall good bank

brookerbabyisababy · 12 January 2008 at 4:03AM

They are owned by HSBC. So basically it is just HSBC in disguise promoted in a better way - a way it should be run. Although it is a good bank. Keep us informed if you decide to join?

CopperPlate_2 · 12 January 2008 at 12:20PM

pault123 wrote: »

Hi guys,

Got a rather tempting £100 joining letter from first direct. A few questions

1. can the minimum £1500 a month come from different sources? (ie part from salary and part from a credit half way through the month)
2. Are you charged for this text service they offer (it sounds like a great idea if its free)
3. Is the £250 int free overdraft the most new customers can get? (ideally I want a £1000 authed overdraft like my Alliance and Leicester)
4. How good is the internet banking software? (my HSBC account is really unintuitive and basic)

Thanks

1 - As long as you credit £1500 a month into the account then it counts towards the 'limit' as long as it's not from another fd account.
2 - The text service is now free. There was a charge until November when they introduced their 1st Account and then the fee was removed altogether (it's always been 'free' with firstdirectory account holders)
3 - The 'free' £250 OD is the most you will get interest free, although you can ask for a larger OD the first £250 is likely to be the only part interest free.
4 - fd's site is good, although as SparciaM has said, it could do with a few tweaks. You can switch off the internet site advertising, and other methods of contact marketing, through the 'marketing preferences' option once you log in. You can do everything via telephone banking that you can do via online, and probably more, so I don't know what SparciaM means - they could maybe expand on it? You can download statements, and although you can't delete 'old' bill payments, you can get round it. If you really need to keep a secure message you've received, you can print it 'to file' and save it (usually) on your computer rather than the site.

Having been a customer of other banks, first direct generally leave them standing.

DrFluffy · 12 January 2008 at 12:24PM

First Direct are crap! Shockingly bad CS. They never pay up either. I ended up leaving them as a result!

SparciaM · 12 January 2008 at 12:41PM

Copper Plate - with the phone thing, I meant was:

If you ring FD up and ask them to do something, you yourself cannot do anything or access your account at the same time. I tried to set up a bill payment to Amex, but the list had 2 identical bp's, so I called FD to set up and explained I couldn't do it online as there were 2 identical bp's and the guy basically said I was lying as they only have 1. When I tried to access bp's to explain better I couldn't as he was in my account.

I like to be able to access my account whenever I need, whether it be when talking to them or not - is not the be all - but can be annoying.

I asked FD about getting rid of marketing on the site and they said it can't be done, so I'll try your method. - Tried your method and I get these options:

secure e-message, email and SMS. Saying tick one you do not want. But there is nothing to turn off marketing on the actual banking site. Can you explain in a bit more detail how to do this?!?

KiKi · 12 January 2008 at 3:45PM

I agree with most posters here.

I moved after 11 years with Barclays. I wish I had moved earlier; they are a fantastic bank with top customer service and very proactive. If I email them with a message they get back to me (either by phone, text or email, depending on what you want) within an hour - and of course you can call them.

The text service is free, and I asked them to remove the overdraft completely when I set it up as I didn't want one. They set it up exactly as I asked them to. Very efficient and responsive.

I wouldn't move again, now.

Lady_E · 12 January 2008 at 4:01PM

To my mind First Direct are the best in banking. They are efficient and friendly and their website is easy peasy even for technophobes like me. I had a battle with LLOYDS (cr*p bank) and they disputed receiving a credit card payment from me. FD rep initiated a 3 way call to LLoyds (FD rang me so it did not cost me anything) and basically gave the LLoyds chap a bit of rollicking . Yes as far as we are concerned , FD get our vote.

moonrakerz · 12 January 2008 at 7:04PM

Yes !

I've been with FD for a couple of years mainly as result of posts on this site. I've had no problems - except one - see my post on "5 star service".

Plus the present offer is £100 if you like us £200 if you don't !

redmel1621 · 12 January 2008 at 7:24PM

I agree First Direct are a great bank, I have an account with them and one with Alliance and Leicester, I am considering changing my A&L one, they are rubbish.

Mel

moonrakerz · 12 January 2008 at 9:52PM

redmel1621 wrote: »

I am considering changing my A&L one, they are rubbish.

Mel

Guess who I left ??

Should I switch to First Direct?

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free