Will FD charge for new account after 6 months

Jazee

Hello all. I'm hoping someone can answer my query. On this site it says that if you switch your account to first direct and pay in at least £1k per month, there will be no account charges. On trying to switch however, in the small print, it says that a £10 charge will be effective from month 6. Does anyone know which is correct please?

B_G_B

Jazee wrote: »

Hello all. I'm hoping someone can answer my query. On this site it says that if you switch your account to first direct and pay in at least £1k per month, there will be no account charges. On trying to switch however, in the small print, it says that a £10 charge will be effective from month 6. Does anyone know which is correct please?

Check out the section titled “Banking Fee”, approx 2/3 of the way through this document.

http://www3.firstdirect.com/assets/pdf/rates-and-charges.pdf

Jazee

Ah, that's clearer. Thanks very much B-G-B, time to change then!

Harveys_2

By opening up their e-saver account and putting a minimum of £1 in it you can avoid any charges on your current account.

In over 10 months I haven't been charged £10 nor have I been putting £1000 in my account by doing the above.

Jazee

Thank you Harveys, thats good to know.

pmduk

Never rely on what a third party website says, always check the company's own T&Cs, they're what count.

Biggles

Jazee wrote: »

On trying to switch however, in the small print, it says that a £10 charge will be effective from month 6.

No, what it says is that there will be no fee:-
a for the first six months; and
b for any month in which you pay in £1,000 (or maintain a £1k balance).

But, as mentioned above, if you also hold an ordinary savings account (even with zero balance) there will be no fee. I have been with FD for over four years, never maintained a £1k balance and never paid a fee.