Top Bank Accounts Discussion Area

YorkshireBoy

Raimonds wrote: »

So, what is the reality, if someone can confirm

There is no fee applied for the first 6 months.

Thereafter, the fee will be applied unless you meet at least one of the following:

1. Pay in £1K per month, OR
2. Maintain a £1K balance, OR
3. Hold a qualifying fee waiver product (these are listed in the T&Cs, but the most popular would be a savings account [not reg saver] with £1 in)

polymaff

yorkshireboy wrote: »

hold a qualifying fee waiver product (these are listed in the t&cs, but the most popular would be a savings account [not reg saver] with £1 in)

w h s

Steve_xx

polymaff wrote: »

w h s

What's that about then?

polymaff

Steve_xx wrote: »

What's that about then?

WHS? - What He Said. Yorkshire Boy hits the nail on the head with the quoted advice!

greensalad

Hi everyone.

I have a £1k overdraft I am working to reduce. It's with Barclays and is 75p per day.

I'm looking to switch to a better bank account (I'm not loyal) and have read this MSE article which suggests First Direct as the best for me.

However I noticed this:

You need to pay in £1,000+ each calendar month, or maintain an average monthly balance of £1,000 to keep the account free (£10 otherwise).
Arranged overdraft cost: 0% under £250, 15.9% EAR above that

Can anybody explain? Is just paying in £1k a month which I will be, enough. Or do I need to maintain a monthly balance of £1k? Surely that defeats the point of it being a good bank account for overdrawn people?

Also, how can I work out the AER on 75p per day? Is the rate better?

littlej0hn

Is just paying in £1k a month which I will be, enough

Yes

It's one or the other. If you will be paying in 1K then you are good to go.

Just opened one myself today, and FirstDirect lives up to the high customer service score....Phone rang once and was picked up straight away. Was never put on hold!

greensalad

littlej0hn wrote: »

Yes

It's one or the other. If you will be paying in 1K then you are good to go.

Just opened one myself today, and FirstDirect lives up to the high customer service score....Phone rang once and was picked up straight away. Was never put on hold!

Yep, I had a problem inputting my address (I didn't notice the "manual address" button. So I gave them a call. "Ring ring" "Hi this is First Direct". I'm shocked!

Managed to apply online, along with the £1k overdraft I needed. £250 free than 15.6%AER for the remaining £750 so it's a bit better than my Barclays one.

PaceThePixie

Evening all.

I am not sure if I am on the right thread here but I am looking for account switching advice.

I have personally never had a joint account with anyone, ever, and having been married for nearly 5 years I have decided that the OH & I should do this joint account thing. He agrees as he is just pants with money!

So OH has £40k+ debts in a DMP and I have been debt free for about 2 years. So my back ground is not squeaky clean. I am currently with Lloyds (16 years) OH is with Barclays (4 years). Now I REALLY dislike Barclays.....well actually I really dislike the staff in both branches in our town!! If they are the front of the business they can stuff right off!!

What I am asking is; which is the best High Street basic account for us to move too? Are basic accounts involved in this all transfer stuff happens between the banks? As in the DD & SO's move over a set period of time. I know Halifax were offering something to us as we have a savings account with them, well I do. Not sure I want to use Halifax? I appreciate that all high street banks are as bad as each other.

Hope this makes sense.
Thanks
Pace.

YorkshireBoy

PaceThePixie wrote: »

So OH has £40k+ debts in a DMP and I have been debt free for about 2 years. So my back ground is not squeaky clean.

Are you currently financially associated? If not, don't do it!

PaceThePixie

Why not? He cannot be trusted to manage his money on his own. And personally I have no desire to get a mortgage, another credit card or any form of credit again. Not at my age.