Leaving First Direct - what next?

DemiDee

Could anyone here tell me if a mortgage with
HSBC counts as one of First Directs criteria
for not charging the £10pm fee? Since they
are affiliated, surely this should count as an
extra product? If not, I'm going to have to
close my account because there is no way
I'm paying an extra £120 per month simply
because I'm on a low wage and want to keep
my money in a bank! This is surely stealth
tax on those who can least afford it.

Any advice on where I should bank
would be most appreciated - I
really want a bank that doesn't
charge for an in-credit current
account, gives a decent rate
of interest and sends out a good
supply of PRE-PAID envelopes
for us to post cheques (I get
paid by cheque so need a good
facility to post them without having
to get to a bank each week).

Thanks all! Dee

peter999

Why not get a credit card or open a savings account.
You don't have to use credit card much or have much money in account.
.

DemiDee

I already have an American Express credit card (for
the good cashback rate) and a HSBC credit card (for
when American Express is not accepted). Would
my HSBC card qualify in avoiding the FD fee? If
I had a FD credit card, would that instantly
qualify me, or do I have to spend a certain
amount each month? I'm so confused.

peter999

Have you looked at the announcement on their website.
Their website does not put any conditions on holding of an additional product to avoid charges.
On the phone they may be trying to discourage/stop people opening sleeper accounts that may not be used.

I think HSBC is a separate bank to First Direct, even though HSBC is parent company.

I would phone them to check.

oldwiring

I agree with peter999 especially << I think HSBC is a separate bank to First Direct, even though HSBC is parent company.

I would phone them to check>>

jmgeofiz

hi

i have already asked the question and any HSBC product does NOT count.
hope this helps

jmg
x

Jake'sGran

Their spokeman on the Money Programme on Radio 4 on Saturday said, with regard to having other products, a person only needs to open a savings account and put £1 in it to avoid the charge. You might be able to read it on the BBC site somewhere.

Phoenix79_2

Just move your account to HSBC? You already have your mortgage and creit card with them so might make it easier? Plus HSBC have no plans to charge for a bank account. FD is run as a seperate business to HSBC so none of their 'products' will count.