first direct COSTLY small print

westoverg6

I have just noticed the small print on first direct's current account and e-savings. My partner uses them and I have just realised has probably lost £'00s (hundreds of pounds) in lost interest.
For e-savings, the small print goes like this: "no interest is paid on the full account balance in any month you make a withdrawal".
For bank account rather than the 2% interest, "if you do not credit your account each month with at least £1000 or maintain a minimum balance of £1000, the credit interest rate payable on your credit balances will be 0.10% AER" :mad:
Apologies if this is old news and everyone else is already aware.

basill

Its easy to miss or even forget the conditions after a while. I withdrew most of the cash from my FD bonus saver to fill an ISA. A couple of months later FD phoned me to warn me that the account paid no at all interest on balances under £3000. Nice of them really!

B

ericthekidstoner

didnt know that... so thanks
think I'll be withdrawing my cash+bonus from them now
ta

pin

The devil is in the detail.

penrhyn

Sorry you missed this in the T&C's though it is on the main page for the account and not buried in the small print.
http://www.firstdirect.com/saveinvest/esavings.shtml

ffacoffipawb

penrhyn wrote:

Sorry you missed this in the T&C's though it is on the main page for the account and not buried in the small print.
http://www.firstdirect.com/saveinvest/esavings.shtml

and the interest rate has now fallen to 4.75% as of today.

Time to move elsewhere on 1st May.