First Direct Customers - Staying or going?

Tatty001

Thinking about changing bank

I am an FD cust who ha sole and having recently got my husband to change, joint a/c as well as him now getting a sole a/c and a savings on my recommendation my kids both have HSBC savings a/c 6 a/cs in all which started just with me The thanks well I am the only one about to get charged. I believe it is a way of meeting targets to push other products and as I said to their Cust Serv "If your products sold themselves you wouldn't need to blackmail people by a way of a £120 p.a. charge I may open a savings a/c to avoid the charge whilst I look else where. By the way they explained to me that they were just deeping their relations with me. Deeper Bitterness!!!!!

Tom_Jones

Moved back to my account to Smile this morning (I never closed my account when I moved to FD) really and truthfully I should never have changed my account because Smile knock spots off FD for Customer Service IMHO, I spoke to the Service centre today and they have NO plans to charge for a current account

dhug

Staying with FD

I'm staying,but I must be living in a bubble:rotfl: I didnt know anything about this until tonight havent had the news on for a couple of days too busy doing other things like working and christmas shopping. I have just put the phone down from FD where I was assured I would be exempt from the charges because my slary is high enough and I have 2 savings accounts I was also given an apology that I had not received a letter and the charges were explained.
One question though to those who may know better does it cost banks to administer what they call dormant accounts i.e. those that have nothing going in or coming out?

wigglebeena

Tatty001 wrote:

I am an FD cust ... By the way they explained to me that they were just deeping their relations with me. Deeper Bitterness!!!!!

HA HA HA! Deepening their relationship with your pockets, I think you'll find they meant. I find this kind of spinspinspin thinktank public relations bullpoopy really, truly, vile and disgusting. Much more so than their actual actions.

If you're consumed with greed and want ALL our money then just say so. Be honest at least, for god's sake. I don't have a 'relationship' with my bank. They're not my god-damned boyfriend.

When someone bull****s you to your face (ears) with a line both they and you know they didn't come up with, that they're reading off a script, then that is so offensive I would leave as a matter of principle, fees applicable or not.

wigglebeena

Tom_Jones wrote:

Moved back to my account to Smile this morning (I never closed my account when I moved to FD) really and truthfully I should never have changed my account because Smile knock spots off FD for Customer Service IMHO, I spoke to the Service centre today and they have NO plans to charge for a current account

Yeah, didn't First Direct say that a few months ago? I've heard rumours otherwise about the Co-op, and Smile are part of them.

merchistonlad

My first post here so forgive me if I'm offending as I need a bit of time to learn the etiquitte of this forum, and also my english which is not my native language.

Well there is a poll over there about FD but I simply can't put my vote as there is one option lacking - would you open an account with FD?

Given the current overwelming critisim about FD's move, my thought may sound daft but here we go. Three questions I would like to ask and try to answer.

1. Is FD's move justified?
Yes. They are providing service and we customers pay for it, one way or the other. There is no free lunch. Everyone agrees banks don't make money out of dormant CA. You simply pay fees for it, if you can't make up by other means, say, use other profitable products for the bank. And I don't think the argument that the charge penalises lower incomers valid - they do have a option to use many other services which are not charged to get away from the fees.

2. Are customers put off?
Yes but no. At moment, some existing customers are upset by their perceived betrail of FD. But when the dust fall and people clam down, ultomately it's the quality of the service that counts. It seems most of people agree that FD's service is one of the best and I can only imageine their service is going stronger, which will attract some customers who can get away with the fees. Indeed that's the whole point of the fees - reducing costs in return for better services. Some people have said that FD is moving towards up market. I think it's a nice thing to have.

3. Is FD's move a good thing for the market and also customers as whole?
Probably yes. I don't think the FD's move will affect most of the customers - as I mentioned you don't have to pay the fees, and you will have better services. If other banks follow suit, more firece competition will follow, hence better choices of good services.

Thanks for reading this lengthy post. But I'll probabaly open an account at FD - not at least to get that welcoming £25!

wigglebeena

merchistonlad wrote:

My first post here so forgive me if I'm offending as I need a bit of time to learn the etiquitte of this forum, and also my english which is not my native language.

Well there is a poll over there about FD but I simply can't put my vote as there is one option lacking - would you open an account with FD?

Given the current overwelming critisim about FD's move, my thought may sound daft but here we go. Three questions I would like to ask and try to answer.

1. Is FD's move justified?
Yes. They are providing service and we customers pay for it, one way or the other. There is no free lunch. Everyone agrees banks don't make money out of dormant CA. You simply pay fees for it, if you can't make up by other means, say, use other profitable products for the bank. And I don't think the argument that the charge penalises lower incomers valid - they do have a option to use many other services which are not charged to get away from the fees.

2. Are customers put off?
Yes but no. At moment, some existing customers are upset by their perceived betrail of FD. But when the dust fall and people clam down, ultomately it's the quality of the service that counts. It seems most of people agree that FD's service is one of the best and I can only imageine their service is going stronger, which will attract some customers who can get away with the fees. Indeed that's the whole point of the fees - reducing costs in return for better services. Some people have said that FD is moving towards up market. I think it's a nice thing to have.

3. Is FD's move a good thing for the market and also customers as whole?
Probably yes. I don't think the FD's move will affect most of the customers - as I mentioned you don't have to pay the fees, and you will have better services. If other banks follow suit, more firece competition will follow, hence better choices of good services.

Thanks for reading this lengthy post. But I'll probabaly open an account at FD - not at least to get that welcoming £25!

<b>Hallo, Newbie with one whole post! Welcome! Tell me, where do you work?

Do I bank with FD?
No.

Would I open an account with FD?

HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA
HA HA HA HA HA HA HA HA HA HA
HA HA HA HA HA HA HA HA HA HA
HA HA HA HA HA HA HA HA HA HA
HA HA HA HA HA HA HA HA HA HA

</b>

Happy_Bunny_6

Changed to another bank

I've been with them for 18 years and have recommended them to loads of people, but I'm off to Alliance and Leicester!

Mc4ndy

Changed to another bank

Exactly what issues do people have with a bank that they feel the need to have them at the end of the phone 24 hours a day!

I mean money goes in (bacs, cheque, whatever) money goes out (direct debits, standing orders, etc) visa debit / switch or maestro works fine, you have a cheque book, you have internet banking.. Really what on earth are you phoning them for, a chat?

As for the Internet Banking Plus, It was my understanding that this was independant of FD internet banking. Ie you could not be an FD customer and still use their IBP service although they continue to stick stupid icons next to your other accounts... hmm reminding you that they have products similar to the one you have with another institution... yes FD but it pays F**k**NG less than the one I have. Oh thanks for the advice though!!

su3

Staying with FD

I have been a First Direct customer for about ten years, and would thoroughly recommend their customer service, it is easily the best.

I wonder whether this idea might appeal to any-one :- I accidently gave my savings account number when I changed jobs, so my money goes straight into there. I then transfer most of it to my current account, saving a small amount each month which soon starts to add up. This way not only do I avoid charges, but the few pounds and pence left there are a painless way of saving.

Hope this idea might help others who are trying to decide whether to stay or not