first direct account

sjh101

I rang up first direct today to see if I could still open an account even if I didn't pay £1000 per month. Like people said on here, I would be able to still open an account, I'd just have to pay £10 per month.

What I didn't ask was whether the account included the 0% overdraft, and if it does how long does the overdraft last for? The main reason I'm opening it is for the overdraft so I want to make sure its available when I sign up.

Also, I didn't mention about opening a savings account to waive the £10 fee. I am going to do this if it definitely works. I take it I would need to open the savings account before I apply for the current account?

mrmajika

sjh101 wrote: »

What I didn't ask was whether the account included the 0% overdraft, and if it does how long does the overdraft last for?

The first £250 of any overdraft is interest free as standard with the current account. There's no expiry on this, other than FD changing the terms at some point in the future. If you're eligible for a £250 overdraft you'll get this interest free.

sjh101 wrote: »

take it I would need to open the savings account before I apply for the current account?

No.

All new customers have the fee waived for the first 6 months regardless, so you'd just have to have it in place from month 7 onwards.

ColdIron

sjh101 wrote: »

Also, I didn't mention about opening a savings account to waive the £10 fee. I am going to do this if it definitely works. I take it I would need to open the savings account before I apply for the current account?

It works, it's in the T&Cs. The easiest way is to open the e-Saver at the same time as the 1st Account, there is a tickbox on the application form

agrinnall

Just be aware the the 6% regular saver account isn't one that qualifies for the fee waiver.

joe134

agrinnall wrote: »

Just be aware the the 6% regular saver account isn't one that qualifies for the fee waiver.

Hi, mind if I ask, what do you need to waive the £10 fee, seems dear for an online A/c especially when paying £1k a month in.
Also, do you get Debit cards etc, as a normal A/c,? I,ve been thinking of using them for ages instead of Nationwide

rb10

joe134 wrote: »

Hi, mind if I ask, what do you need to waive the £10 fee, seems dear for an online A/c especially when paying £1k a month in.
Also, do you get Debit cards etc, as a normal A/c,? I,ve been thinking of using them for ages instead of Nationwide

This is covered on their website:

Banking with first direct usually costs £10 a month, but we'll waive the fee if you pay in at least £1,000 to your 1st Account each month or maintain an average monthly 1st Account balance of £1,000 or hold a selected first direct additional product. For new customers we waive the fee for your first six months.

Note that the Regular Saver (their only decent product) isn't a 'selected additional product'.

You do get a debit card on the account.

For most people, Nationwide will be better to bank with than First Direct. Internet banking, the mobile app and interest rates are both better.