First Direct - Thoughts please

MoscowFlyer

Having been with Citibank for the past few months I've decided to change and go to First Direct. My Citibank account is good but I'd prefer to have a bank with an English call centre and I've heard FD are very good with regards to customer service.

Having had my application accepted I just wanted people's views on FD before I sign the forms to confirm everything.

Also, how long does it usually take for them to transfer all the DD's and standing orders over and is it a smooth process?

Thanks in advance.

Milarky

Customer service has always been very good (I would say 'excellent' but there was a slight 'wobble' over ISA guidance given) and you won't be disappointed.

Just to suggest that you open one or more other accounts to go with the current account since otherwise there is a 'funding' requirement of £1500 to avoid being charged. They now offer an 8% one year regular saver as well as an instant access account ('everyday savings') paying 5.5%. Accounts link directly to HSBC savings accounts too. Given First Direct won't pay any in-credit interest, it does make sense to set up some savings with them (no?)

Can't comment on switching but I assume they do a reasonable job there. Other's will know

MoscowFlyer

Milarky wrote: »

Customer service has always been very good (I would say 'excellent' but there was a slight 'wobble' over ISA guidance given) and you won't be disappointed.

Just to suggest that you open one or more other accounts to go with the current account since otherwise there is a 'funding' requirement of £1500 to avoid being charged. They now offer an 8% one year regular saver as well as an instant access account ('everyday savings') paying 5.5%. Accounts link directly to HSBC savings accounts too. Given First Direct won't pay any in-credit interest, it does make sense to set up some savings with them (no?)

Can't comment on switching but I assume they do a reasonable job there. Other's will know

Cheers, the funding requirement isn't a problem as my salary covers that but I have also requested to open the savings account as well so it will pretty much be an identical setup to my existing Citibank account.

nearlyrich

I have been with them for over 15 years never had a problem, the web banking is the best in the industry, I can see all my financial position on one page.

They have just improved their savings accounts and I can keep the bulk of my money in a savings account and just pay it across to my current account when I need to. £250 interest and fee free overdraft limit too!!

Lazy_Runner

Yes would agree with the good service.

Downsides:
Slightly messed up sending a credit card when my last one expired.
When I wanted a bankers draft, they put me through to the HSBC call centre in India
The 5.5% savings account is internet only. If you want both telephone and internet, the rates are lower. (I do want both incase things go pear shaped and the internet is down, when you really need to transfer the money).

Otherwise I am very pleased with their service. Their internet site is very good.

pinkthinks

I've been with FD about 10 years now, briefly switched to NW (had to cos I worked there), but have since gone back to FD.

Excellent online banking. Another reason why I like them is the amount of time it takes from spending on your switch card in a shop to the money coming out of your account. When I was with NW it could have been anything up to a week later, but with FD my personal experience is it's the next day.

They recently made a mistake on my c/card account when I asked them to amend the d/d payment date, which resulted in a double payment being taken and a late payment fee being charged, although the payment wasn't late. BTW I was alerted to this by text message banking, which is a good little thing to have, and even better now it's free. When I called I was promised a calback at a certain time, this was honoured. Everything was sorted in 5 mins, and I'd asked for a letter explaining what had happened and that it was their fault not mine (!), this arrived the next day.

They're not perfect, they can mess up, but in my experience when they do they sort it out and say sorry for it!!

MattY123_2

You’ve switched your account to first direct ‘1st account’

You now have the auspicious pleasure of not only having the only account in the uk which charges £10 if you don’t fund it with £1500 per month … BUT also pays you not one penny in interest on that money!

Welcome to first direct!!! :beer:

A_Nice_Englishman

MattY123 wrote: »

You’ve switched your account to first direct ‘1st account’

You now have the auspicious pleasure of not only having the only account in the uk which charges £10 if you don’t fund it with £1500 per month … BUT also pays you not one penny in interest on that money!

Welcome to first direct!!! :beer:

Simply open a savings account. There will then be no monthly charge and you can switch your money instantly between the two, effectively getting savings rates on your day-today cash.

FD are not a cheap and cheerful bank and I find it worth paying a little extra for excellent customer service. I'm fussy about these things and not prepared to wait in call centre queues to speak to people who don't understand my problem and even if they do are powerless to do anything about it.

I agree this may not be what everyone wants, though. Who do you bank with Matty123?

MattY123_2

First Direct!!! :mad:

MoscowFlyer

MattY123 wrote: »

You’ve switched your account to first direct ‘1st account’

You now have the auspicious pleasure of not only having the only account in the uk which charges £10 if you don’t fund it with £1500 per month … BUT also pays you not one penny in interest on that money!

Welcome to first direct!!! :beer:

Over £1500 will be going in every month so it's not a problem, plus I never have enough in there to earn more than a few pence interest anyway so that's not an issue, the customer service and online banking is.

Cheers everyone, I'll go for it :T

poorbabe

I'm another satisfied FD customer. Been with them over 10 years and had very few glitches with them. The new accounts are fine with me as I never have more than pennies in my current accounts anyway and sometimes I've had to use the overdraft facility.