First Direct fee conditions

AnnieP6 · 6 August 2018 at 3:07PM

I have had my First Direct current account for six months. I know that I didn’t have to pay any fee for that period. Can anyone tell me what date each month I should pay in the £1000 required? Can I transfer it back to my original account the following day? (I do not have any salary to pay in so I will have to move it from another account.)
I usually have a balance of around £1000 but this drops about the fifth of each month when my credit card is paid off (in full!).
I would prefer not to incur fees.

Nick_C · 6 August 2018 at 3:09PM

Just open a savings account and keep a pound in it.

The RS doesn't count.

"There is no cost for the first six months. After that you can avoid paying the £10 monthly account fee by:

paying at least £1,000 into the account every month
or maintaining an average monthly balance of £1,000
or also having a mortgage, credit card, Personal Loan, savings (except Regular Saver), First Directory or Home insurance with us."

Willing2Learn · 6 August 2018 at 3:12PM

AnnieP6 wrote: »

Can anyone tell me what date each month I should pay in the £1000 required? Can I transfer it back to my original account the following day?

I just pay in once a calendar month. The £1000 only stays in the account for less than a minute, as I transfer it out straight away.

AnnieP6 · 6 August 2018 at 3:26PM

Thank you. I hadn’t realised I could do that!

enthusiasticsaver · 6 August 2018 at 10:27PM

I do as Nick suggested above. Open a flexible saver with minimal amount then you don't have to worry about putting £1k in each month and taking it out again.

First Direct fee conditions

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