What a rip off! First Direct

opinions4u

sablade wrote: »

do you mind being so rude?

Quite happy with my tone. It reflects your hysterical response to something you chose to do knowing full well what would be charged.

BadgerFace_2

I think a thread BEFORE you made the transfer entitled 'What is the best way to get cash from my MBNA card?' may have been better than moaning after the event. Almost ALL CC's charge for transferring money into a current account. You could have closed the account and requested the balance be transferred, which would have been free.

[Deleted User]

If it was more than the service was worth to you, you wouldn't have done it. Would you?

I donlt like paying hundreds of pounds a month for childcare, but if I don't , I can't work. So it's worth paying for the greater benefit.

ILW

What were the charges actually for? What were the amounts involved?

noh

Was this a new MBNA card or an offer on an existing card?
Why did you not do a money transfer from MBNA, to your current account, at 4% rather than 2 balance transfers at circa 3% each?

I personally don't consider the fee to be unfair. It's published upfront and it was your decision to use the service offered.

See fees here 2.99% for cash transfers to current account.
http://www2.firstdirect.com/1/2/creditcards/credit-card/summary-box;jsessionid=0000qzVjtTHPvcZVFqUZA6NCeSW:11qkrclbj

izools

sablade wrote: »

so you feel the fee of £360 to transfer a credit balance across to my bank account when I had no alternative is fair?

You did have an alternative - which was to not do this transaction.

You chose to process the transactions having agreed to all of the fees detailed in the respective credit agreements. If you consider the fees to be unfair, you had a choice not to process such transactions.

If I walk up to you and say "Here's a pint of milk. Yours for £5".

You have a choice to buy it, or not buy it. If you have chosen to buy it for the asking price, you then have no recorse to later complain about the price.

If you don't like the price, you don't have to buy the milk.

By the way -

All MBNA cards offer a feature called "Super Balance Transfer".

This allows funds to be transferred at the same introductory promotional rate, but to your current account instead of another card. Like other posters have alluded to, you chose not to take this route. This isn't FD's fault.

I think you've already realised you won't get anyone on side or any sypathy here so I'm gonna go help another poster

Any

Basically the OP screwed up.
Chose to use 2 different BT each at 3% rather then 1 Money transfer at 4%.

Also wouldn't need to pay the 3% BT if it wasn't actual BT - if he just asked to have the credit balance back - however then it would go where it came from.

Cards are not designed to have credit balance on them. It is actually against most cards T&C.

Your moan is unjustified and I find it disgusting that you picked one bank to blame for your own lack of information.

CH27

izools wrote: »

I presume the transfer was for around £12,500?

If this is the case, then there is nothing out of the ordinary for the fee involved. Standard fare, the same fee you would have to pay to any credit card issuer in the land for this amount.

I think discrediting (or attempting to discredit) First Direct in your original post is unjustified, as they are acting within the terms you agreed to and on par with all other credit card companies in the land.

You knew you couldn't transfer direct from Virgin to MBNA, you knew FD would charge a fee (as is the norm) yet are "disgusted"?

But you incurred the fee through the choices you made... I'm confused...

Totally agree with you.

izools

And come to think of it, you broke the terms of your First Direct credit card.

You agreed to conditions one of which stipulates you are not permitted to knowingly process a transaction which will purposefully leave the credit card in a positive balance. FD are will within their rights to close the account after this misdemeanour.

Any

sablade wrote: »

to transfer 12k from an existing mbna virgin card, they would only permit trans to a cc. The charge was £360 to move 12k credit from fd cc to fd bank acc. I could not trans straight to a bank acc.

I keep saying I knew the fee before but any high bank fees do not feel like value for money to me, I wish I didnt start this post.

Where did you get this info from?
It's rubbish.