Current Accounts Details Page

Exclusive

Receive £125 cashback when you switch your current account to first direct. You won't find this offer anywhere else. T&Cs apply. Limited offer, ends 27th March 2017

To apply for this current account

Go to the first direct website

Go to site

Phone

Product review

This account does not pay interest if you are in credit, but it comes with a £250 interest-free overdraft and has the advantage that First Direct is renowned for its excellent customer service.

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What’s the deal?

If you switch your current account to First Direct, you’ll get £125. The account enables you to manage your money online through the bank’s Internet Banking service and there is also a satisfaction guarantee, so if you’re not happy, First Direct will give you £100. You won’t earn any interest when you’re in the black, but if you go overdrawn, the first £250 is interest-free.

Any catches?

As you won’t earn any interest when you’re in credit, this account may not be the best option for those who tend to keep a relatively high balance in their current account. You have to pay at least £1,000 a month into the account, otherwise you’ll be charged a monthly fee of £10.

What’s the verdict?

Perhaps the biggest selling point of this account is First Direct’s customer service – it is consistently ranked among the best banks to deal with from a consumer perspective. So if you’re looking for a ‘no frills’ account, this could be the deal for you.

 

Is this account right for you?

To open this account

  • First Direct can only offer switching incentives to people who haven't previously held any account with them
  • You must be over 18 years of age
  • 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
  • You must have a telephone number and email address first direct can use to contact you

Account features

Account benefits

Receive £125 cashback when you switch to first direct. Satisfaction Guarantee - If you wish to switch to another bank after six months and within 12 months, first direct will give you an additional £100 to move. Terms and conditions apply, refer to provider for full details.

Considerations

Great for
Receive £125 cashback and access to £250 interest free overdraft when you switch your current account to first direct – overdraft subject to status
Earn 5% interest from first direct’s regular saver and gain access to preferential products available to first direct customers only
Rated 'great' for customer service in the MoneySavingExpert.com poll
But be aware that
Minimum monthly funding of £1,000
No interest paid on balances in credit

Interest rates

Balance Introductory Rate Follow on rate Gross AER*
Any balance 0.00%
  • Any interest you earn will be tax-free up to your annual personal savings allowance.

Overdraft Rates and Charges

Overdraft buffer Amount Planned/Authorised Overdraft Rate (EAR) Unplanned/Unauthorised Overdraft Rate (EAR)
£250.00 15.90% 15.90%
  • There is a £250 interest free overdraft
Other Overdraft Charges Fee/Rate Notes
Unplanned Overdraft Fee £5.00 / Daily You will not be charged a fee if covering funds are paid in before the end of the day; the informal overdraft is £10 or less; or the account has been in informal overdraft for more than 30 consecutive days. You will not be charged more than £80 in a charging period, more in fees than the maximum amount your account has been in informal overdraft in a charging period, or charged a fee if the account is in informal overdraft because an overdraft charge or interest has been deducted

Other Fees

Fee Notes
Foreign ATM Charge 2.00% / per item Minimum charge £1.75, maximum charge £5
Foreign Exchange Rate 2.75% / per item

Operating and accessing your account

Operating your Account Making Withdrawals
Online -
Phone -
Branch
Post -
Post Office
SMS -
Mobile App -
ATM -

Mobile App Features

Make transfers between accounts -
Check balances -
Make transfers to other people -
View transaction history -
View direct debits/standing orders -
Apply for new products -
Use app on multiple devices -
Branch finder -
Pay bills -
Setup payments, standing orders, or direct debits -
Make payments -
View mini statements -
Make payments to other people -
Use multiple devices -

Mobile App features may be limited. Please refer to providers site for more information.

Other details

  • This account has a Visa Debit card.
  • The currency for this account is Pound.

Exclusive

Receive £125 cashback when you switch your current account to first direct. You won't find this offer anywhere else. T&Cs apply. Limited offer, ends 27th March 2017

To apply for this current account

Go to the first direct website

Go to site

Phone

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