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First Direct

This award winning current account provider prides itself its customer service. There is even a satisfaction guarantee where customers will be compensated if they’re not completely happy. 

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Overdraft Interest rate Monthly account fee

First Direct 1st Account

First Direct 1st Account

  • £100 when you switch to First Direct
  • First £250 of overdraft interest free, then 15.9%
More info
Overdraft
15.9%
EAR
Interest rate
0.0%
AER
Monthly account fee
-
AER based on £1,000 deposits and meeting eligibility criteria. Overdraft based on being £500 overdrawn (excluding 0% overdrafts).

About First Direct

First Direct is an award winning current account provider. First Direct is part of HSBC. They were created in 1989 and were the first telephone bank to be set up in the UK. The bank offers its customers a satisfaction guarantee, so if they apply for a First Direct current account and decide the service is not up to scratch, they will be compensated.

First Direct current account customers don’t have access to high street branches, but there is a comprehensive telephone and internet banking service. Current account holders can also access their accounts from a mobile phone. The bank has a UK based call centre, which is open 24/7, 365 days per year.

Customers can also take advantage of a number of extra benefits offered to First Direct current account holders. These include roadside assistance, mobile phone insurance and worldwide travel insurance. There is a small charge for these services and customers will need to sign up for a minimum contract period.


Like many of the main current account providers, First Direct current account holders can enjoy an automatic overdraft facility, the first part of which is interest free. However, interest will be charged if you exceed your authorised overdraft limit.

Not all customers are eligible for a First Direct current account – applicants need to pay in a minimum sum every month in order to qualify for a current account with First Direct.

The bank charges a fee for its current account, but this is waived if the account is credited with the minimum amount every month. Customers who do qualify for a First Direct current account can use a hassle-free account switching service offered by the bank. All credits and debits will be redirected from the old account to the new one and if anything goes wrong, First Direct will refund any interest paid and take care of any charges incurred as a result of service failures. 


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