First Direct, not that Direct.

Notimpressed

Hi everyone,

I would like to find out what other people think about First Direct.

I've just checked my account tonight and noticed that they have charged me £25-Charge OD Arrangment. I know that I havent been over drawn, as I've been budgeting like a mad person of late and can account for every penny!
I rang the bank and spoke to some advisor who told me that the charge is for me having the 1st Account with them and the standard overdraw of £250, and that if I or any 1st Account member has been overdrawn in the last 6 months, they will put the charge on the account on its yearly review. Also this person said that this has been in affect since October 2007, when they changed the accounts to 1st accounts.

Now I have been overdrawn and each time that I have they have taken their pound of flesh thus making me even more overdrawn, so how is it possible/allowed that they are able to now charge me for wanting to have the account and overdraw which they increased in the first place without my asking.
I want to know has anyone else had this happen to them and what can I do?

Also what account can I change to, I dont like them anymore they are just money grabbers!!

ShelfStacker_3

If you've requested an overdraft limit (including informally, i.e. going overlimit) in the 6 months preceding a yearly overdraft review, you're charged £25 for keeping the OD, in common with HSBC's policy. Everyone's affected; the simplest way to not get charged is to not go overlimit and/or to not have your overdraft limit increased all the time.

anniecave

you say you haven't been overdrawn, but then you say you have been overdrawn! I'm assuming you mean you haven't been recently, but have been within the last year or so?

My advice would be to keep up the budgeting so you can ensure you NEVER ever go into your overdraft ever again.

You can take a look at all the other options for bank accounts. If you want to pay in cash/cheques regularly you'd be best to avoid the non-high street banks as their methods of paying in can be unreliable.

To my knowledge all the high street banks and the ex-building societies have current accounts that are "free" for most normal things, including the facility to have an overdraft (If you don't use it). So feel free to switch to whichever one suits you best!

Oh and switching bank accounts affects your credit rating in the short term so be aware!

guli

ShelfStacker wrote: »

If you've requested an overdraft limit (including informally, i.e. going overlimit) in the 6 months preceding a yearly overdraft review, you're charged £25 for keeping the OD, in common with HSBC's policy. Everyone's affected; the simplest way to not get charged is to not go overlimit and/or to not have your overdraft limit increased all the time.

Apologies to OP for going slightly off-topic.

Shelfstacker, my authorised overdraft limit has been stagnant for the past few years, though I would like it increased. I've never been charged any fees nor have ever gone over the limit.

Based on what you said here, would requesting an overdraft limit increase NO less than 6 months preceding my next yearly overdraft review, would I escape the £25 OD?

Thanks!