First Direct - what’s all the hype?

UKX69

https://forums.moneysavingexpert.com/discussion/comment/81859115#Comment_81859115

I think a lot the reason for not moving providers is people suffering from the pullover syndrome. Like your favourite pullover, you get comfortable in it and reluctant to move on. Like Masonic, I’ve been with NatWest 50 years and know that outgoing payments amongst other services, will very likely not be questioned. ( I have switched many times with other accounts, but that’s a different story)! 🤫

sarahTT

We've been with them ages and 20-odd years ago they were a breath of fresh air. They went through several bad patches with long waits on the phone but we rarely needed that. However when we had to talk to them we found the agents often not v helpful, sometimes even brusque or bordering on rude. And suggestions are not really taken on board… the only time they did something was when hubby complained repeatedly that the app (not that well-designed he thinks) works only on one device and eventually they changed this.

We're still with them mostly because it's the "devil we know" and because we're no great fans of app-only outfits.

huw01

https://forums.moneysavingexpert.com/discussion/comment/81859628#Comment_81859628

I agree with this sentiment, people don't move because generally current accounts work for them.

With branches now closing and more app banking, how good or poor does the app really have to be for someone to move their everyday banking. My main account is with Santander and I've had or still have accs with fintech banks. But the fintech apps really don't do that much more than Santanders app. Notifications maybe, but then we are bombarded with notifications from other apps in the phone.

If I check my account once a day then I'm fine with that. I remember when I only used to get a bank statement every quarter. Also some of the often celebrated fintechs have really poor offerings on savings or credit cards. I'm often stumped why someone will pay a current account fee to have a different colour card.

UKX69

https://forums.moneysavingexpert.com/discussion/comment/81860106#Comment_81860106

Agree with your statement. NatWest is and continues to be the best bank I’ve been with. The problems I’ve had in my time with them are very few and have been solved in a matter of hours. Like you, I check my account every day on the app and only use the account to feed regular savers these days. Don’t need any bell’s & whistles. 😊

steven141

I like the fact that you can see direct debits in pending with first direct (and HSBC UK). I don't know any other banks that shows this.

I agree with the others though. I think NatWest/Royal Bank/Ulster Bank and Lloyds/Halifax/Bank of Scotland have the best apps. The Natwest Group only downside is not showing direct debits until it has had a payment taken and the new Lloyds app is a mess compared to the old one.

Rob5342

https://forums.moneysavingexpert.com/discussion/comment/81860106#Comment_81860106

They do loads more, seeing upcoming payments, getting notifications, having pots for direct debts, splitting the bill, paying people that are nearby. I find those all extremely useful which is why I use Monzo.

Rich1976

I have used FD for years and generally they are very good.

My salary goes in

All direct debits get paid

I can easily move money to other accounts

They answer the phone straight away on the rare occasion I need to call

They respond to secure messages very quickly on the rare occasion I have had to do that.

What’s not to like? I don’t need anything further from a bank account.

Contrast all of the above to credit cards held with Halifax or NatWest where they can take several hours to respond to messages and then don’t always provide the answer which then prompts me to send a further message. Or they take ages to answer the phone.

FD may not offer the gimmicks of some of the newer banks but I don’t need those and they have always suited me.

ZeroSum

Ive said similar before, their systems are poor & dont 'just work'

Cant even do something basic like pay off credit card via internal transfer of your own accounts. You have to manually create a payee to FD with your credit card number as reference. Which you have to search through FAQs or contact customer to even find this out.

Every other bank allows you to just transfer from current account to credit card, or even debit card payment which FD doesn't allow either.

Times scales for opening reg saver, why does it take 5 days? Every other banks its open straight away, worse case 24 hrs. Then its 5 days to get money upon maturity, unless you have a moan at them on chat, then they'll pay it across

Mind, if you have a whinge to them about stuff like this, they often chuck £25 in your favour which is nice.

masonic

https://forums.moneysavingexpert.com/discussion/comment/81863793#Comment_81863793

Sounds like they are a bit rubbish as a credit card provider. But I've not come across them offering any good incentives for their cards.

The reg saver delay can be shortened by reapplying at the optimal time (ahead of maturity). But it is still slow and seems to involve manual processes on their side. But also it's 7%. Co-op is similar in my experience. I don't think I'd pass on the FD RS even if the application process was worse.

ZeroSum

https://forums.moneysavingexpert.com/discussion/comment/81863871#Comment_81863871

I got a 17 month 0% a few years back, which took ages to go through as well as there being a bug in the system so had to phone up to complete, then send back signed documents. When the card arrived, the letter said 12 months. Which turned out to be an admin error as they had reduced the offer shortly after I applied. They confirmed I did indeed have 17 months & bunged me £25 as an apology

Yeah, the co op reg saver is also a bit slow, however it does have the benefit of being more flexible in that you can manually deposit how much you want & can make mid term withdrawals. FD reg saver, whilst a good rate is probably the most restrictive reg saver there is, even on depositing money which has to be a set amount via SO, that you can only amend by phoning them up. Its just ridiculous in this day & age.