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First direct - what's the real deal?

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Comments

  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    sai5 wrote: »
    Please provide the necessary information.

    I am sorry if this sounds harsh but the necessary information is on the FD website. We can tell you all sorts of things here, and they may or may not be the terms that apply. You have got to be satisfied with the FD terms that apply to whatever it is you are doing.
  • Steve_xx
    Steve_xx Posts: 7,008 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    edited 5 December 2014 at 1:54AM
    sai5 wrote: »
    What about this £1000 pounds do I have to transfer every month or only once after switching.

    Thank You

    The terms, readily available on their website, do specify that you need to deposit 1k per month. You will face a £10 a month charge after 6 months if you fail to deposit the 1k each month. However, there is a way of avoiding the £10 monthly charge, and that way is by having another First Direct product.
  • planteria
    planteria Posts: 5,322 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    having a savings account alongside is no hardship, and if i was opening an FD account i would satisfy their criteria on both counts...just cycle the money through:)
  • Steve_xx
    Steve_xx Posts: 7,008 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    edited 5 December 2014 at 2:28AM
    Archi_Bald wrote: »
    I am sorry if this sounds harsh but the necessary information is on the FD website. We can tell you all sorts of things here, and they may or may not be the terms that apply. You have got to be satisfied with the FD terms that apply to whatever it is you are doing.

    Archi, I've just sent you a PM. But ignore it as I've looked further into First Direct's terms and the term I was referring to is set out more clearly there. However, their headline spiel could benefit from the removal of the ambiguity I mentioned.
  • TheTracker
    TheTracker Posts: 1,223 Forumite
    1,000 Posts Combo Breaker
    Ed-1 wrote: »
    The £10 fee for the account is waived if you hold an e-Saver (with £1 in it) or pay in at least £1000 per month.

    £0 in the e-Saver is fine. I haven't put a penny in it for 4 years, except 1 day a year when the regular saver pays up.
  • badger09
    badger09 Posts: 11,819 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    TheTracker wrote: »
    £0 in the e-Saver is fine. I haven't put a penny in it for 4 years, except 1 day a year when the regular saver pays up.

    I know this is MSE, but the £5 I leave in my Everyday e-Saver is costing me 19p interest a year. I can live with that :p
This discussion has been closed.
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