FD Loan and current account question

mitooki

Hi everyone,

This may be a dumb question but here goes..

I have a first direct current account, loan and credit card. I am considering changing current account soon. Will I have to maintain my existing current account to continue to pay off the loan or will I be able to change the direct debit to my new account like I would with any normal direct debit?

Or to put it another way, could it be that a condition of the loan is to have a current account with them?

Thanks!

mleonard79

Hi Mitooki,

I don't know for sure what the exact First Direct Terms and Conditions are but in general you can change the direct debit to any account you like, there is not usually any stipulation that you have to pay it from a current account from the bank with which you have the loan.

Regards

Michelle