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Opening First Direct Account.
benoit
Posts: 327 Forumite
Ok, i have seen that you can avoid paying a monthly fee for a First Direct account by paying in a certain amount each month or by opening a savings account at the same time. How does this work? If you open a savings account do you still need to pay a minimum amount into the current account?
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Comments
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You need to credit £1500PCM but you can transfer it away and back again to avoid this :-)Bank Accounts - Barlcays Premier[/B] - £1000 o/d, HSBC - £200 o/d- First Direct - £500
Credit Cards - Barclaycard £2000 - Silver Card £1300 - Flybe £7500 - HSBC £1000 - First Direct £2500 First Direct Gold £3000
6 credit accounts closed in 2010!
Official SOS Club number 001 - Dry until 01.07.100 -
All you need to do is open a savings account and deposit £1.
No further deposts needed to avoid the fee. Alternatively if you have their credit card you do not need to pay the £10 monthly fee.0 -
Innocent_Guy wrote: »You need to credit £1500PCM but you can transfer it away and back again to avoid this :-)
Not quite, as long as you have another product with them (i.e saving account) then the fee will be waived if you don't put in the minimum £1500.0 -
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Has this been confirmed at all? I think i would like to open an account but i cannot guarantee that i will pay in £1500 every month.
It is correct. It states it in their terms and conditions. I've got an esaver, ISA and 1st account and have never been charged, despite never paying in £1500.0 -
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I understand that holding another account with FD also exempts you from paying the monthly fee on the 1st current account. You should be able to find this in the terms and conditions on the FD website for the 1st Account.0
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