First Direct - monthly charge?

SamanthaDawn

Hello,


I'm considering switching to First Direct's current account. Their website says:

"Is there a charge to bank with first direct?
Banking with first direct usually costs £10 a month, but you will not be charged this fee for the first six months from account opening, when 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 you hold a selected first direct additional product."


Just to clarify... does this mean they'll start charging me £10 a month after six months? Or will it still be free as long as I pay in £1,000 a month? The above is a bit unclear!

gt94sss2

SamanthaDawn wrote: »

Or will it still be free as long as I pay in £1,000 a month?

This - no monthly charge if you continue to pay £1,000 in a month or have one of the additional products they mention.

Regards
Sunil

YorkshireBoy

I agree the text could have been better worded.

There's no fee for the first 6 months.

After that, you either have to pay in £1K per month, or maintain an average £1K balance, or hold a fee-waiver qualifying account.

flutterbyuk25

Spooky, I was wondering the same myself as the terms aren't that clear! Thanks for asking OP and thanks for the other answers confirming.

maas

Im just doing the same. I read it as there's a standard fee of £10 a month which is waived providing you either;

a) Have a balance of at least £1000 in the account throughout the month, or
b) Pay in £1000 each month, or
c) Have a specific FD product
d) Are within the 6 months of opening

SamanthaDawn

Thank you!

Banjo27

I was wondering something similar. When FirstDirect says you have to pay a "salary" of £1000 in per month, does this have to be an actual salary from my job, or can it be £1000 from another current account I have?

Thanks

xylophone

It doesn't have to be salary.

Banjo27

xylophone wrote: »

It doesn't have to be salary.

Excellent, just what I wanted to hear!

System

Needs to be ten uncirculated £100 notes

Banjo27 wrote: »

I was wondering something similar. When FirstDirect says you have to pay a "salary" of £1000 in per month, does this have to be an actual salary from my job, or can it be £1000 from another current account I have?

Thanks

[Deleted User]

You can transfer £10 in from a different bank, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in, then out, then in again.

Then next month, do the same again.