First Direct 1st Account

izools

Quite, the #1,500 funding requirement can be from disparate sources.

For example, I receive a small part time salary, disability living allowance, and rent from my subtenants. Whilst my annual salary is a pittance, my NET monthly income from all sources is over #1,500 a month so if I were to open a FD account I would not have to pay the fee and I would qualify for the switching bonus.

As other posters have already confirmed, opening another account at the same time as the 1st account, like a savings account or credit card, will result in the fee being waived anyway.

There is no minimum salary requirement for having this account but First Direct are slightly stricter than other banks on credit scoring so don't expect to get one if you're on benefits or a student earning next to nothing especially if your debts are high compared with your income (or as in my case have a discharged bankruptcy on your credit file... They'd probably be printing the decline letter before I even got to the end of the application )