I know that I have written a reviews recently about First Direct (a division of HSBC Bank plc) and their products and facilities and 'no', I do not work for them and am not on any commission! However, I would be delighted to work for them as I think they are absolutely first class.....
After 30 years of banking with the Halifax I moved to First Direct for my banking. The reason I moved was because I took out a mortgage with First Direct and one of the conditions for getting a mortgage was that I had to open a bank account with them.
I can quite honestly say that First Direct are like a breath of 'fresh air' in the world of banking. This is one of the best moves I have ever made and I am delighted with the outstanding customer service and the excellent products that First Direct offer.
One of the most pleasing things about First Direct is the superb level of customer service. Whenever I ring customer service I speak to a real friendly person in the UK! The call is usually answered very promptly ie within 3-4 rings. There are no frustrating automated telephone messages etc - it's telephone heaven!
Calls are answered in the UK, 24 hours a day, 7 days a week, 365 days a year. It does not surprise me, therefore, that in 2008 First Direct won the "Best Call
Centre in the UK" award . This was not just for being the best banking call centre mind but the best call centre across all industries.
The operators are always, very pleasant, courteous and extremely efficient. You are treated as an individual. Every telephone conversation is recorded and noted. I recently contacted them to ask if I could change the day my mortgage was paid. They said that they would get back to me as soon as possible with the answer to my request. Sure enough they rang back to say that was fine...They even rang my workplace because they could not get me at home....
**Features of Banking with First Direct**
**Incentive**
First Direct offer a financial incentive to first time customers. At the moment, if you switch your bank account to them, they will give you £100. You will need to credit your account with £1500 per month within the first three months to get the incentive.
So confident are First Direct that you will be absolutley delighted with their services and products that they also offer a further £100 by way of a 'Satisfaction Guarantee'! If, within 12 months you are not happy with First Direct and you have paid in at least £1,500 a month for six months they will give you a further £100 for the inconvenience of having switched your account and help you to move your account. You will have had to have used their Easyswitch service when you transferred your accounts.
**Easyswitch**
With Easyswitch First Direct take care of your transfer. They will obtain details of your Standing Orders and Direct Debits from your previous bankers and arrange to transfer them for you. If there is a failure in the switching process First Direct will refund any charges or interest you paid to them and if you are a Northern Ireland customer your old bank will refund any charges or interest you paid to them.
**Interest Free Overdraft**
You will get an automatic £500 formal overdraft at account opening. The first £250 of your overdraft is interest free. An arrangement fee may apply if you request an overdraft more than once every 6 months. Overdrafts above £250 will be charged at 15.9% EAR variable.
**Charges**
Banking with first direct usually costs £10 a month, but it is free when you pay in at least £1,500 to your 1st Account each month, maintain an average monthly 1st Account balance of £1,500 or hold a first direct mortgage.
**Sweep Facility**
The 'sweep facility' means that once a month, on whichever date you prefer , you can automatically sweep up any money you have not spent into a savings account.
**Operating Your Account**
. You can operate your account in a number of ways.
- Through internet banking. - Through telephone banking - Mobile banking
**Internet Banking**
The internet banking site is easy to navigate and use. You can view balances and receive statements online, monitor transactions , set up payment details, pay bills, move money between accounts, set up and manage text message banking, request PINs, replacement cards and paying in books, view, set up, cancel and amend standing orders and direct debits, access rates and charges, order travel money online, apply for a personal loan, apply for a first direct credit card, get an Agreement in Principle for an offset Mortgage, check credit card balances, check offset Mortgage balances and repayments, apply for a savings account, check savings account balances, view and print up to 27 months' transactions (up to a maximum of 200), access ISA balances and transfer funds into your account.
To operate your account by telephone you just need to call 08456100100. You will be asked some security questions that include your post code, some memorable data and 2 or 3 characters of your telephone password. You will then be able to complete any transactions with the help of a customer service agent.
**Mobile Banking**
You can operate your account by mobile. You can use the website to set up and recieve text alerts to make it easier for you to manage your money. You can arrange for mini statements to be sent to your mobile. In this way you can keep a check on transactions from anywhere in the world. You can receive a text alert if your balance falls below a certain figure etc...
**ATM Transactions**
You can use your first direct debit card to withdraw up to £500 a day free of ATM charges from HSBC/LINK cash machines in the UK. This is a great withdrawal rate and is much higher than most other banks.
**Paying In**
You can either pay in cheques by post using the freepost envelopes that are sent with the welcome pack or you can pay in at any of the HSBC Bank branches. Freepost enevelopes can be ordered from the First direct website.
**Opening an Account **
You can open an account either through the First Direct website or by completing an application form. You will then receive a welcome pack. The pack contains transfer salary forms and a form to move direct debits and standing orders to your First Direct account. You also have a form to send to your old bank if you wish to close your old bank account. You will be asked to choose a date from which you want the payments to be made from your First Direct account to start.
It is important that you allow First Direct at least 20 working days to complete the transfers. Before this date direct debits and standing orders due will be taken from your old bank account so do ensure there are sufficient funds in your old bank account to enable these transactions to be made.
You will be issued with a debit card, cheque book and paying book. These will arrive within a couple of weeks of the opening of the account. Statements are issued monthly but you can choose to opt for paperless statements online.
The only downside to First Direct is that they do not pay a great rate of interest on their current account. However, I believe that current accounts are not savings accounts and it is possible using the sweep facility to divert any spare cash at the end of the month into a savings account with a higher rate of interest.
Overall I would thoroughly recommend First Direct to anyone....
This review may also be found on other review sites under the name of 'Kappari'.
How helpful would this review be to a person making a buying decision? Rating guidelines
Advantages: Excellent first class service, fast response, high security, can bank via PC, internet, mobile phone & telephone 24 hours a day Disadvantages: none really (interest rates for internet could be higher..though they aren’t bad)
Connoisseur_Haggler 24.02.2002 (27.02.2002)
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Ciao members have rated this review on average: very helpful
Review of First Direct
Advantages: Excellent first class service, fast response, high security, can bank via PC, internet, mobile phone & telephone 24 hours a day Disadvantages: none really (interest rates for internet could be higher..though they aren’t bad)
Connoisseur_Haggler 24.02.2002 (27.02.2002)
·
Read review
Ciao members have rated this review on average: very helpful
Review of First Direct
Jun 14th, 2009
exceptional by (12%):
very helpful by (88%):
