First Direct £10 monthly banking fee (merged)

A_Nice_Englishman

My letter and the quote from SparciaM state that you can *either* pay in £1500 a month *or* maintain an average balance (not a minimum balance) *or* have another FD product. So it seems you have had a different letter or are interpreting it differently.

nearlyrich

They used to have a minimum salary requirement when they first started up, I haven't heard anything about this new charge, must give tham a call!


Edited after calling:

I should be getting a letter explaining the new charges this week, my current account where my salary is paid in will be OK but our JA which only gets £300 transfered in to pay the bills will be subject to a charge each. Even though I have other savings products we don't have any joint savings products. I will be writing to FD once I get the letter and if they insist on charging they will be losing all my business after 15 years. I understand that they don't want dormant accounts but the JA has more DD's and SO's than either of our other accounts and to charge each of us is just greedy.

benood

This is a pain as we have a FD joint account set up for monthly spending only paying in £1000 pcm and use their daily text message banking to stay in control - any other good text message providing accounts out there?

Cypher

Dagobert wrote:

What's the big fuss here if the banking fees can be avoided simply by opening a savings account with £5?

Personally I think the whole thing stinks, At present it £1500 a month or another product to avoid the £10 fee. How long before they move the goal posts to £2000 a month AND another product, or set a limit on the amount in the savings account, credit card spending etc.

I'm thinking of voting with my feet and sending back a clear message that they can't have their cake and eat it. Record profits year on year but they still try to squeeze even more out of us. :mad:

CopperPlate_2

Only cahoot has this facility as well I think.

techno_geek

Why don't you just open a savings account with First Direct to gain exemption from the monthly fee? Joint savings are available, and all you need to do is keep a few quid in there just to keep it ticking over...

regularsaver1

I think other banks are going to start charging a fee sooner or later too. Didn't HSBC say so too?

karatedragon

This bank is only wanting to charge £10 a month. Thats not a lot in the great scheme of things. In other countries banks charge so we have just had it too good for too long. £120 for what apparently (im not with FD so cant confirm) is good service cant be a lot to pay. Seems people these days just want something for nothing. I mean you wouldnt take out a telephone service and think you shouldnt have to pay for it and personally I would rathe rpay £10 a month for a decent service with UK call centres that answer promptly that have it all for free and farmed off to the third world.

Reading these postas anyone would thnk the world was coming to an end. Theres far worse tihngs going on in the world than FD charging a tenner a month like People dieing, polar ice caps melting and deforestation. Things just have to be brought into perspective.

Cypher

I'm getting a feeling of Deja Vu

ajbrynoffa

My wife and I only pay £800 a month into ours and would happily close it and move elsewhere but we have a £1000 o/d with them and theres no way we can afford to pay it off in the foreseeable future so it looks like we`re stuck!