Why First Direct is one of the best!

JonathanA

I suspect I'll be one of the many customers who won't be charged the fee by First Direct as we have an offset mortgage, savings and current account with them. Like most people on this site, I'm trying to find ways of saving money, not paying it out to banks and the like un-necessarily. If i was to be charged the fee, would I stay with them? Quite probably. OK, so they don't have the best rates of interest, but they do - as many others have said - have excellent customer service, and that counts for something.

Before First Direct we banked with Intelligent Finance - they didn't live up to their name for us. Prior to that with Lloyds TSB - who were very good until my branch manager retired & then we became just another account number, rather than a person.

It is good to know that you can speak to someone who is empowered to take action when you ring them up. We moved house this year - organised the mortgage over the phone with them in about 10 minutes - 5 year fix at 4.99% - savings & current account balance offset interest on it. Is it the most competitive - no, probably not, but I'm willing to sacrifice some of the best rates for better levels of service.

The only other bank I think I'd consider, based on their apparent service, is the Co-op & I don't know what their rates are.

It's personal choice at the end of the day, but I'm sure there are others who would consider paying to avoid having to phone up and go through the Press 1 for insurance, 2 for credit cards, 3 to get really annoyed routine. Maybe!

stevebananer

I'm an 'overpaid' civil servant :rotfl: who pays his salary into FD every month and doesn't come near to meeting the £1500 minimum deposit.
So I'm obviously dross to FD and karatedragon

CopperPlate_2

I think an ill-chosen turn of phrase there on karatedragon's part, stevebananer.

Some people ought to put their brain into gear before engaging their mouth - and get this fd fiasco into a bit of perspective.

msaquib

stevebananer wrote:

I'm an 'overpaid' civil servant :rotfl: who pays his salary into FD every month and doesn't come near to meeting the £1500 minimum deposit.
So I'm obviously dross to FD and karatedragon

Civil Servant are not overpaid

Phoenix79_2

Sarcasm lost on you msaquib?

TheFlyingGerbil

baby_frogmella wrote:

First Direct are in the firing line cos they were the first ones to do it and the shock is greater initially, its something we're gonna have to get used to whether we like it or not.

THis is certainly not something we should get used to. If people with FD accounts stay with them then this will cause other banks to think they can charge too. People should move as a matter of principle and then the other banks would realise this is not something they could get away with.

I heard that when they introduced parking car clamps to Paris people went around putting superglue in all the clamp locks of any they could find so they couldn't be unlocked - the clamping soon stopped. Us typical Brits just took it and now we haev disgusting/semi-illegal clamping going on all over the country.

Remember you are doing the bank a favour by giving them your money not the other way around! That's why they pay you interest. If I lent a mate £100 it's he who should be grateful not me!

I also seem to remember the whole point of internet/phone only banks was their lower costs: it doesn't cost them money to have your money just sitting there. They don't have branches to run. I certainly wouldn't pay £120 a year for someone to be nice to me over the phone. How often do you phone them? I don't even phone my bank once a year - so I would be paying over £120 for one phonecall!!!!!!

Joe

Jabes

karatedragon wrote:

Isnt there a bank called Coutts and Company?

I believe they charge for providing accounts but you don't see people moaning about them all over this website.

Anyone here bank with them?

I bank with Coutts. Their current account is free to operate as long as you keep an average balance of £5000+

linlin_3

I've banked with FD for many years and found them excellent. Having said that, I haven't banked with many others so have no idea what their level of service is. I've been a "blue-chip" customer, money in the bank etc etc, but I would have appreciated a more personal approach and to be told that my old outdated savings account had been replaced by a better deal.

I think the issue here is customer service. If we all demanded better customer service from every service outlet, competition would rise and there wouldn't be an issue in paying for the service we desire.

We've become a nation of groaners....but actually do very little to make our complaints heard in the right way. If we all made an effort to put pen to paper and made intelligible complaints (meaning less use of the internet, but making a real old-fashioned complaint) perhaps we'd make our point.

Perhaps we could have some guidance on seriously good complaints??? Even templates for folk to printout?

As far as FD is concerned, I'll be reviewing our banking very soon and am tempted to go for a fee paying jobie that provides benefits which would otherwise prove expensive as I get older...e.g. free travel insurance.

PS. WHY can't a website provide an anonymous name and shame????

SparciaM

Everyone keeps going on about FDs customer service, yet I'm in the process of switching to them (opened the account 1 month ago) and nothing has been switched yet, and when I sent them a message online (8 days ago and counting, still no reply) - is this what I get for my £10pm - no DDs or SOs switched and no replies.

How often do these guys reply. With smile (my main bank) they reply within 48 hours.!. I'm thinking I may be switching back to them.

anniecave

Jabes wrote:

I bank with Coutts. Their current account is free to operate as long as you keep an average balance of £5000+

must be nice ...... !