Skip to . Note: future dated payments set up within 7 working days of your switch date cannot be transferred across to your new account. Introduced in 2013 by the government, the Switch Service makes sure your switch is complete within seven working days. ... One way we do that is by letting you know up front about any charges that might apply to any of our accounts - after all, nobody likes a nasty surprise. †Lines are open Mon to Fri 8am to 9pm, Sat 8am to 8pm and Sun 9am to 8pm. A great way to see all your options is by comparing current accounts on MoneySuperMarket, where you’ll be able to browse through offers from different providers and look at what they offer – including their overdraft facilities, the interest rate they might pay on your balance, or the rewards they offer. While the benefits of the First Direct 1st current account are attractive, it won’t be suitable for everyone because it requires paying in £1,000 every month. Many of us use our current accounts for day-to-day banking, so it’s important to choose an account that works well for you. Currently, First Direct current account customers pay 15.9 per cent in interest on arranged overdrafts of more than £250, or a £5 daily charge if they slip into their unarranged overdraft. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. Please enter a password of 6 characters or more, moneysupermarket.shop.passwordField.maxLengthMessage, Looks like this isn't matching the password we have for you - give it another try, Please untick if you’re using a public computer, View all your accounts in one place (one login to see savings/current accounts), Send and receive secure messages with bank, Set up payments within the UK or overseas, ({{sliderProduct.productAttributes.customerRatingCount}}), Current accounts. Oh no, we can't find your email address on our records. But he believes the first major bank to charge for current accounts risks losing a lot of customers. We don't as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it's rarely made public until it's too late (see the. Online requests are still being processed, however, and our contact centre is fully operational. Moneysupermarket.com Financial Group Limited, registered in England No. To get the best experience when using our website we recommend that you enable JavaScript in your browser. If you come back and look up your quotes, you’ll find that all your details are still here and you won’t have to answer the questions again. Editor, Marcus Herbert. The Current Account Switch Guarantee means that your new bank takes care of closing your old account, moving your balance and switching your payments. About our service, Learn more about The MoneySuperMarket app or download it from, We use cookies to give you the best experience. Switching couldn’t be easier. Savings sweep: First Direct also offer a ‘sweep’ facility that transfers any spare money from your 1st Account to a savings account with the same provider on the date you decide. First direct are proud to offer their customers some of the most competitive deals on the market wherever they can. Holding an average monthly balance of £1,000. If you are a first direct customer and are at all worried about your finances, ... you may be able to make calls to us free of charge. 3) What charges are applicable to this account type? Any payments still going to your old account will also be redirected to your new account, and the Switch Service does this for 36 months after you switch. There may also be a fee involved for going over the arranged amount, however you can sign up for text alerts that let you know when you’ve gone over. Online and phone banking giant First Direct, the division of HSBC that introduced "no branch" banking to the UK, has stirred up the banking sector again with its decision to charge some customers £10 a month for running their current accounts. It’s quick and easy to set up your payment, and you can even schedule it now, so it’s all sorted and sent automatically on the day it’s due. There’s plenty of financial swotting up to be done before you head to uni, not least when choosing a student account. You can open the Current Account at any branch of our Bank spread across the country. As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,000 customers of each of the 19 largest personal current account providers if they would recommend their provider to friends and family. The monthly cap on unarranged overdraft charges for your 1st Account is £20. By using our website you agree to our use of cookies in accordance with our, How to choose the right current account for you, get more details on how we work and how we get paid here, Learn more about The MoneySuperMarket app, You must not have been declared Bankrupt or have registered for an Individual Voluntary Agreement within the last six years or be in the process of doing so (Does not apply to M&S Bank), You’ve been accepted onto a full-time UCAS course at a UK institution for at least 2 years, You don’t already have a student account with another Banking institution, You must be aged between 11 and 18 years old, You must have a residential address in the UK, A joint account without the permission of both parties, Reduced foreign currency withdrawal charges. † † Lines are open Mon to Fri 8am to 9pm and Sat 8am to 5.30pm. Who we are Partnerships Money wellness hub Money wellness ... You are in section Home Rates and charges Current Page. 5 replies 1.2K views insurgente Forumite. First Direct announced in November that it was bringing in a fee of £10 a month. Our service seems to be down currently, please try again later. This charge is calculated at 3% of the original mortgage amount during first year of the Fixed Rate Period and 2% of the original mortgage amount if the mortgage is closed in any subsequent year during the Fixed Rate Period. Common eligibility examples include having a minimum number of Direct Debits, and a set amount entering the account each month. Wednesday 15 November 2006 10:17 First Direct will become the first leading bank to charge its customers for a standard current account. Their current account comes with fantastic benefits, an overdraft facility and satisfaction guarantee. Back first direct uncovered. Published August 2020. So you don't need to worry. HSBC, First Direct and M&S Bank will hike interest rates to 39.9% EAR for arranged and unarranged overdrafts from March 2020. Your new bank will have transferred all of your regular incoming payments (such as your salary or benefits) and outgoing payments (such as Direct Debits, standing orders, future dated payments and bill payments) to your new account, along with any remaining credit balance. Switcher gifts: New customers might also be eligible for a free gift if you switch accounts using the Current Account Switch Service and pay in a minimum of £1,000 in the first three months. 211 posts. 2) How can I open this account? moneysupermarket.shop.editField.minLengthMessage. Balance Transfer fee of 2.29% (min £5) will be charged for each transferred balance made within three months of opening your account. Following government advice, we have closed our offices in response to Covid-19. The HSBC-owned bank has said its current account … Over 4 million current accounts have been switched so far. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. We recommend you untick this box if you’re using a public computer as someone else might be able to access your quote. *Representative example (assumed overdraft £1,200): 0% EAR variable on the first £250, 15.9% EAR variable thereafter. At the moment, First Direct current account customers pay 15.9% EAR on arranged overdrafts of over £250, or a £5 daily charge if they slip into their unarranged overdraft. Before applying, please always check each banks specific opening criteria on their website. The Current Account Switch Guarantee means that your new bank takes care of closing your old account, moving your balance and switching your payments. The Annual Percentage Rate of Charge (APRC) is the overall cost of the loan on an annual basis when fees and costs are taken into account as well as interest. Take a look at the chart below to see what each bank can offer you, AER interest on in-credit balances between and up to. The bank will charge customers £10 a month … Interbank rates collected from x-rates.com on 20/11/2018. You are in section Home Rates and charges Charges Current Page. First Direct was set up as a bank in 1997 and is known for providing telephone and online banking services to consumers. Requires a minimum account balance N100,000.00. first direct’s Regular Saver Account allows you to pay in up to £300 a month for a year, and it pays a 5% AER (Annual Equivalent Rate), which makes it one of the top-paying accounts in the market. The Current Account Switch Service covers 99% of UK current accounts. All you need do is to walk into any of our branches and the Customer Care staff will treat you to our traditional courteous service. 3157344. On your agreed switch date your new account will be ready to use and your old account will be closed. Sending money abroad - or receiving a foreign payment into your UK-based First Direct bank account - is usually pretty straightforward. Excess on debit turnover limit attracts a default account maintenance charge at N1/mille. Contact moneysupermarket.com at Moneysupermarket House, St David's Park, Ewloe, Flintshire, CH5 3UZ. Oops, are you sure? Please see the first direct Account Terms and Conditions for full details. First Direct current account features. Current account customers will be charged if they do not pay in at least £1,500 a … familiarise yourself with the latest version. © Moneysupermarket.com Ltd 2020. If you need to make your Self-Assessment tax payment, don’t worry, you can do it with your first direct Mobile App or Online Banking. Wondering how we work with our partners, and how we make money? Eligibility examples include having a minimum number of Direct Debits, and our centre! A standard current account next month rate Period has ended, no Early Repayment charge you... And satisfaction guarantee and Conditions for full details re using a public computer as someone else might be able access. 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