First Direct - not so good for existing customers

sl51

By all means take advantage of First Direct's sweetener for new current account customers but be aware that its savings rates for existing customers are hopeless. 0.25% for an e-saver, and the ISA rate is lower for existing customers than new. If you are lucky enough to have some money to save, look elsewhere.

opinions4u

sl51 wrote: »

By all means take advantage of First Direct's sweetener for new current account customers but be aware that its savings rates for existing customers are hopeless. 0.25% for an e-saver, and the ISA rate is lower for existing customers than new. If you are lucky enough to have some money to save, look elsewhere.

The 8% account isn't too shabby though.

alanq

Existing First Direct customers can get a bonus of 1% for one year on eSavings for money coming from outside First Direct. No great but not as bad as the OP indicates.

Rich1976

alanq wrote: »

Existing First Direct customers can get a bonus of 1% for one year on eSavings for money coming from outside First Direct. No great but not as bad as the OP indicates.

I only hold the regular saver with FD and that will be moved out to an ISA elsewhere when it matures. I also hold the gold card

FD is generally very good for the service on its current accounts and credit card but it always hides behind it's customer service reputation as an excuse to offer poor savings accounts. The 1% bonus can easily be beaten elsewhere. The ISA while it pays a good 2.75% to new customers with new money after the fixed term it goes down to 0.20% and you can't move your money if they offer a better deal.