First Direct current account charges?

insurgente

I mean besides the £10 if you don't pay in £1,500 a month...

I'm looking to switch from Lloyds TSB to First Direct (as I hear they're great)... got all the forms through to switch the other day (including a Credit Card application I didn't want....from reading on these forums it doesnt seem too uncommon).

I was reading through the literature that came with the form and it seemed to mention an £8 charge for an "inward bank transfer over £100" (?)...

So if I want to transfer more than £100 from another account/savings account/ISA... i need to pay for the privilege? I'd never heard of this with any account I've had previously, which is why I wondered if I read it wrong.... Are there any more little charges I should know about before I decide to switch?

Baldur

You seem to be referring to http://www2.firstdirect.com/1/2/rates/charges:

Inward payments received from banks within UK:
-in Sterling - Free
-in currency above £100 equivalent - £8.00

The charge is for currencies other than Sterling.

insurgente

oops, my bad

a British bank sending me money in a foreign currency is something i'll probably never use as i cant get my head round it......... i'm sure there will be charges for receiving money in a foreign currency from a foreign bank

Fiddlestick

insurgente wrote: »

oops, my bad

a British bank sending me money in a foreign currency is something i'll probably never use as i cant get my head round it......... i'm sure there will be charges for receiving money in a foreign currency from a foreign bank

That depends on how the transfer is initiated.

It's possible for someone in the Eurozone to initiate a transfer that's denominated in Sterling rather than Euro.

You would receive the inbound transfer from the intermediate UK institution in Sterling and wouldn't pay the charge

AnonymousForObviousReason

insurgente wrote: »

including a Credit Card application I didn't want....from reading on these forums it doesnt seem too uncommon

To put your mind at rest, I didn't post Credit Card application back and account setup no problems. Took me 2 weeks from start to access. The other thing to remember is to tick the cheque book request box, some others on forum didn't and had to ask at a later date.

I just have to send back moving account form now.

insurgente

thanks all, for putting my mind at rest...

yea I never use cheques, but I suppose I may as well tick that just in case