First Direct Banking Fee

mpa91

I have been banking with First Direct for the past 8 months and have both a 1st account and a regular saver. This month, for the first time, I have received my statement and there is a £10 banking fee applied to my 1st account...I was of the impression that with the savings account this fee was waived, and has been until this month. Have the T&C's changed or is there something i've missed?

zaax

Have you contacted them?

Archi_Bald

The Regular Saver account has never counted as one of the accounts that waive the monthly fee. You need to have a normal savings account as well.

grumbler

mpa91 wrote: »

.....I was of the impression that with the savings account this fee was waived...Have the T&C's changed or is there something i've missed?

No, the T&C have not changed and always excluded Regualar Saver from the Banking Fee Waivers: Interest Rates & ChargesPDF , p.11. On the same page it says: "You will not have to pay the Banking Fee for the first six months..."

badger09

Open an Everyday eSaver.
Pay in £5.
Move another £5 in and out every year.
Job done.

You can probably get away with depositing just £1 and not moving in and out, but my belt & braces method should avoid any potential 'dormancy' problems

spingoblin

zaax wrote: »

Have you contacted them?

I think the OP did the sensible thing and asked on here first, within half and hour he/she found out the probable reason from seasoned, reliable posters and saved themselves a call - simpler and less time consuming than a knee jerk call.

Of course if he/she did not get a reply or adequate answer i'd then recommend calling them.:p

TheEffect

As mentioned, the regular saver does not count towards to fee exemption. Open a standard savings account and place £1 in it instead.

I'd still recommend calling them and acting oblivious, as they'll likely return the £10 the deposited as a goodwill gesture. They pride themselves on their customer service (as lets face it, their internet banking sucks, and mobile app isn't much better).