First Trust Bank

elliemoo

Was in a First Trust bank today at lunchtime and noticed posters advertising some sort of "new" current account. This new account does not charge fees for stting up SOs/DDs etc if you pay a flat rate of £8.00 per month.

D.A.

So basically it's still a complete ripoff compared to the mainland banks.

tee_3

It still amazes me that people bank with local banks. People across the water would laugh at the prospect of paying for DDs or SOs, as they have REAL competition in the banking sector.

Have a look at the alliance & leicester website for a current account which pays 5% interest, no charges, free travel insurance, etc - need I say more? Compare this to Northern, BOI etc and see how well they treat us?

PS I have no link to A&L, its just that I opened an account the other day

Tee

SnowyOwl_2

elliemoo wrote:

Was in a First Trust bank today at lunchtime and noticed posters advertising some sort of "new" current account. This new account does not charge fees for stting up SOs/DDs etc if you pay a flat rate of £8.00 per month.

This is a joke, right?!

I bank with the Halifax, and can set up standing orders online all by myself (they think I am a grown up even though I am only 38!). What on earth would you want to pay them £8.00 per month for when you can do it yourself for free in less than five minutes? Does anybody set up a direct debit or standing order every single month anyway - unless I got the wrong end of the stick it sounds like you have to pay them eight quid even if you don't ask them to set up a d/d or s/o on your account. That's eight quid a month for doing !!!!!! all. The sad thing is there will be people who will actually sign up for it...

ollywood68

I'm with the Ulster bank and have been for years. i enquired about setting up an overdraft and they said no prob but at a cost of £20. I said I wasnt willing to pay it and they agreed to waive the fee this year but each year if I renew it I would have to pay the £20. They also charge me £4 of every SO and DD I set up. This annoys me as I seem to set up quite alot. I would like to change but dont know enough about what other banks charge. Does anyone have any advice? I heard the Nationwide is good.

elliemoo

I thought this was just typical of the local banks' attitude, despite "super complaint" they still think that we should be grateful for letting them profit from our money!

Just thought the information would generate some local discussion.

SnowyOwl_2

Ollywood68, have a look at Martin's article on Banking & Loans, accessible from this very page on the left. It should help you.

BTW The English banks/building societies approach is a bit more impersonal. Eg they will rarely if ever insist on you meeting the manager. Eg my last mortgage was with the Woolwich, and I had that for five years. I have never in my entire life stepped inside a branch of the Woolwich never mind meet a manager. And banking with the Halifax for over a decade, including having a mortgage with them, I have never met any of their bank managers either. Don't know if this is good or bad compared to how bank managers treat their customers in the 4 banks over here, but suffice to say I've always got what I wanted without grovelling to a manager.

Oh and the Halifax call centre is of course in Belfast so they understand what you are talking about if you have an NI accent.

IvanOpinion

These banks still rely on customer apathy otherwise they would have no customers at all. Get yourself a bank account that does not have these silly charges (Nationwide, Abbey, Halifax etc. etc.) there are loads out there. And don't be scared to change ... it is dead easy, make an appointment, bring all the relevant informaiton with you and it can be done and dusted within an hour.

Ivan

declanmcc

I've had almost 5 years free banking with First Trust thanks to their graduate package, and a couple of generous extensions to that offer - but they are a torture trying to chase them up. They still charge me for DD set-ups and cancellations and I have to constantly ring and remind them to refund them.

I'm thinking of switching to A&L in June when my free banking expires with First Trust.

I currently have a £700 free overdraft with First Trust. Would I have to clear that with First Trust before I can join A&L, or could I join A&L, avail of their free overdraft facility and transfer £700 over to First Trust to wipe out my debt to them and close my FT account??

arkonite_babe

I bank online with Cahoot and have no bother setting up DD's or SO's. I would recommend you look at Martin's article as mentioned above. You can find it HERE

HTH

Polly

I was with First Trust for 15 years and still feel like a mug for putting up with their ridiculous charges for so long. Moved to Nationwide three years ago and bank online with them. Can't praise them enough. I'm overdrawn on a fairly regular basis and pay about £1 a month for the privilege. Wish I'd moved many years earlier.