Are First Direct meant to be difficult to open acc with?

Manchee

I was searching for something unrelated and came across some posts saying that First Direct are quite a difficult bank to get an account with. Is this right, or is it out of date info? I was just wondering because I recently opened one online (haven't banked with them before) and I was accepted immediately, with a £500 overdraft (got everything through really quick as well, card, cheque book etc). Should I be grateful and a bit in awe of how they must see my credit rating, or is this pretty much standard now?

InsideInsurance

It is more of the case that they only offer a mid market product and so its not in the same league as opening a Coutts account but slightly harder than a basic NatWest account.

FS companies simply have their preferences, in the space of 24 hours MBNA refused me a credit card, HSBC gave me a current account with up to a £10k overdraft and a £15k credit card and AmEx gave me a platinum chargecard (so "unlimited"). MBNA is the one applied to first and it was a flat decline so not a case of them being negatively impacted by the other applications.

KaiserBill

Manchee wrote: »

I was searching for something unrelated and came across some posts saying that First Direct are quite a difficult bank to get an account with. Is this right, or is it out of date info? I was just wondering because I recently opened one online (haven't banked with them before) and I was accepted immediately, with a £500 overdraft (got everything through really quick as well, card, cheque book etc). Should I be grateful and a bit in awe of how they must see my credit rating, or is this pretty much standard now?

How would you regard your credit rating. Good, average, or bad ?

katejo

Manchee wrote: »

I was searching for something unrelated and came across some posts saying that First Direct are quite a difficult bank to get an account with. Is this right, or is it out of date info? I was just wondering because I recently opened one online (haven't banked with them before) and I was accepted immediately, with a £500 overdraft (got everything through really quick as well, card, cheque book etc). Should I be grateful and a bit in awe of how they must see my credit rating, or is this pretty much standard now?

A £500 overdraft ? The fee free one is usually £250 . I have been with them for many years so can't say much on ease of acceptance

Gromitt

katejo wrote: »

A £500 overdraft ? The fee free one is usually £250 . I have been with them for many years so can't say much on ease of acceptance

Everyone gets an automatic £500 formal overdraft when you open the account, but only the first £250 is interest free.

In 1995 when I opened my account I thought it was pretty easy, but things may have changed a little since then