First Direct 1st Account

PurplePow

I've wanted to have a First Direct bank account for a while, they have excellent reviews plus the £100 for switching is tempting. The main problems is though I don't earn enough to pay in the £1,500 a month, however lately I have read that if you also open a savings account with them, then I wouldn't need to worry about paying in £1,500 and thus avoiding the £10 fee.

Also I currently have a graduate account with HSBC, never banked with first direct, so I believe I do qualify for the £100 offer despite First Direct being part of HSBC?

tellmeitsfriday

You're right about the savings account

I had an old HSBC account when I opened my FD account, and I got the £100.

PurplePow

Thanks so am I right in thinking I can open a basic easy access savings account, put a small amount (say, £10) in there and I won't need to worry about the fee? Sorry for asking again, just want to double double check before I go ahead and start switching.

p1nkk1tten

From our website (easier than typing it all):

Banking Fee Waivers

You will not have to pay the Banking Fee:

• for the first six months following account opening
• for any month in which you:
  • pay into your account* (other than by internal transfer from another first direct account) a minimum of £1,500 or you maintain an average monthly balance on your account* in excess of £1,500 (month means calendar month and we will work out the average monthly balance by adding together the end of day balances for each day during the month and dividing the sum by the number of days in the month) or
  • hold a first direct mortgage, credit card, personal loan, savings account (*excludes Regular Saver Account and Fixed Rate Saver), first directory, or first direct car or home insurance policy; or
• in relation to any second or subsequent 1st Account in the same name. (If you hold a sole and joint account, your joint account will not be considered to be in the same name unless all joint account holders are the same); or
• if your account is inactive for more than 90 days and the balance of your account is less than £10

* Where multiple current accounts are held, accounts will be considered individually in respect of balances and credits received and will not be aggregated when assessing whether a fee is payable.

http://www2.firstdirect.com/1/2/rates/charges;jsessionid=0000e6JvtZjl9BXrk1Y6cZAnVQk:11qmo514p?clear=true <--

Hope this helps =D

p1nkk1tten

The 'Member Get Member' scheme still gives £100 to the new customer, but gives £50 to the existing one who recommended us.

Browntoa

and referrals are only allowed on the referrals section (where they already posted)

click the SPAM button on the referral post

bubbles29

Hi!
Currently i am considering moving to first direct as their CS is seemingly very good, (lets just say i am less than impressed with my current bank! )
However i am a little unsure about the exact terms of the £1500 a month thingy... Currently i dont have £1500 of SALARY to be paid into an account, but i do pay all the bills and my partner pays his share into my account.. from his bank account (not a FD account), thus taking me well over the £1500 deposit a month mark. . .Will this count toward the £1500 a month giving me the £100 incentive and avoid having to pay the £10 a month fee?
some advice would be much appreciated as i have been told conflicting answers!!

thanks!:T

sveika

bubbles29 wrote: »

Hi!
Currently i am considering moving to first direct as their CS is seemingly very good, (lets just say i am less than impressed with my current bank! )
However i am a little unsure about the exact terms of the £1500 a month thingy... Currently i dont have £1500 of SALARY to be paid into an account, but i do pay all the bills and my partner pays his share into my account.. from his bank account (not a FD account), thus taking me well over the £1500 deposit a month mark. . .Will this count toward the £1500 a month giving me the £100 incentive and avoid having to pay the £10 a month fee?
some advice would be much appreciated as i have been told conflicting answers!!

thanks!:T

Yes it will be counted towards the £1500 thing but you are not eligible to open this account if your income is below £23,300.

blueberrypie

sveika wrote: »

Yes it will be counted towards the £1500 thing but you are not eligible to open this account if your income is below £23,300.

The requirement is that you fund the account with £1500/month. Although the MSE information translates this into a "how much do you need to earn" scenario, you do *not* have to have an income of £23,300+ to open the account.

EarthBoy

sveika wrote: »

.. you are not eligible to open this account if your income is below £23,300.

Rubbish.

My income is a lot less than £23,500 and I've got a First Direct current account and a Gold credit card with them.

pqrdef

GemmaC25 wrote: »

plus the £100 for switching is tempting. The main problems is though I don't earn enough to pay in the £1,500 a month

I think you have to pay in £1500 within a month at least once to get the switching bonus. Improvise.