First Direct - Why you choose them?

SparciaM

I see a lot of posts about the £10 charge and people saying that they would switch away. Now that the charge isn't coming in, people say they'll stay with them.

I was gonna switch for the £50 and the fact that everyone on this board says that they have best customer service etc. BUT they have really bad rates. There ISA and e-savings are terrible and you only get 2% on the current account.

I'm with smile and getting 3.04% on c/a and 4.75% on ISA. Yet was going to switch - maybe to Nationwide who don't charge and give over 4% on current account.

So my question - why stay with FD just because there customer service is good - as you can get better rates elsewhere. I've never had any problems with smile and really enjoy banking with them and I here Nationwide are good to - so why choose FD?!?!

grex9101

you've answered your own question really, the customer service IS that good.

humfer

I was with First Direct until a couple of months back. Even though the interest rate is only 2% and their credit cards, saving accounts, etc are no way near market leading, their customer service was phenomenal. Whatever time of the day you called you would always be answered (non of that annoying please press 1 for.......).

Having said that transferred to Lloyds a couple of months ago due to the higher interest rate (4%) and the ability to open a 8% regular saver. In todays world of internet banking, I figured that customer service was not 'that' important...

poorbabe

I have thought about changing banks over the years but FD's CS has always been the reason I stay. If I want to earn more money on my very meagre savings, I just open an account elsewhere. To be honest money doesn't stay in my c/a long enough to earn any interest *lol*

tomstickland

I've got a few dormant FD accounts. They're OK, but with internerd banking you don't really need to speak to humans, so I've found other banks to be fine.

kenshaz

I have an account with FD because of their internet plus online system ,recommended

nearlyrich

I use internet banking plus, rarely speak to them anymore but they are always there if I need them, how many banks would ring you to say there was a DD coming through for £7k ( tesco finance slip up) which was not in my normal pattern, 5 years ago?

I get paid, send my bill money to one account, my savings to an external high interst account so rates don't really matter it's just a mule account for me.

I would have to be really unhappy with them to change banks after almost 15 years, previous banks, (Natwest, TSB and Halifax) lasted about 2 years maximum before they annoyed me enough to change...

mrcow

Why do I keep my FD a/c?

Two words: Matched betting :T:T:T

dhug

Why do I stay with FD?

because I never have enough money in my current account to worry about "missing out" on a few pence interest, I have an ISA and e saver account with them and I am happy with the rates. Probably most importantly of all if I do need to ring them then I know I will be spoken to like a human being and treated with politness without having to press dozens of buttons first and without having to strain to understand what is being said to me. and if ever there is any activity on the account which is out of the ordianry I get a phone call to check it really is me spending.
So yes there are banks with better rates but as far as I am concerned gaining a few pence at the expense of having to potentially but up with appaling cs is just not worth it, maybe I am just old fashioned about customer services but I value that far more than those few extra pence (and for most people it probably is just pence for those fortunate to have enough balance in their current ac for it to make a significant difference well good for them)I could get from another bank

DontDoDebtKids

They've hung on to me with the strength of their telephone banking and internet banking services.

I have only just moved away from them to A&L, who offer much higher interest rates but will move back to FD if A&L aren't up to scratch in any way.

So far, A&L have been OK - telephone banking with them is pretty awful but, as one of the other posters mentioned, internet banking is the way forward so as long as that works properly I don't care.

I do like the 5% interest on my new current account! _party_

mrcow

DontDoDebtKids wrote:

So far, A&L have been OK - telephone banking with them is pretty awful but, as one of the other posters mentioned, internet banking is the way forward so as long as that works properly I don't care.

I'd absolutely second that. I personally found th whole A&L experience a very negative one (my a/c was with them for about 3 months before I'd had enough).

With FD, yes they are great if you need to call them, but when most things are handled online it rarely ever gets that far.

With reagrds to the interest rate, it makes little or no difference to me, as my wages go in and then come out pretty much straight away (as I always ensure that my bills are paid early in the month so I can budget for spending more accurately). I think many people work this way and so aren't that bothered about a few pound here or there per year in interest when their current bank is providing adquately for all their needs.