First Direct 1st Account - first direct

First Direct 1st Account

first direct
0 % AER
Headline Interest Rate
£ 100
Switching bonus
  • Overdraft facility
  • Customer rating: 4.82 (out of 5)
  • No monthly charge
  • Minimum Monthly Credit: £ 0
    • Open by:
Account offers sign up bonus
Good customer service
Interest free overdraft offered
No interest paid on balances

This account may be appropriate for you if

  • You are older than 18

Switching bonus

Member of Current Account Switching Service: No
Maximum Switching Bonus: 100
Switching Bonus Conditions:
£100.00 cashback if account switched to First Direct using the Current Account Switch Service if: - Account credited with £1,000 per month within 3 months of account opening - this offer is limited to 1 payment per customer or joint relationship and is not available to existing customers of First Direct For full details refer directly to First Direct. Another £100 if customer is unhappy and closes the 1st Account within 12 months of opening, as long as a monthly salary or income of £1000 or more has been paid into that account for at least six months and they haven't previously had an account with First Direct. The customer will also need to have used First Directs Current Account Switch Service, which means First Direct will have obtained details of their standing orders and Direct Debits from their previous bankers and arranged to transfer them for the customer. First Direct will pay the £100 into the customer's 1st Account prior to its closure. All accounts with First Direct have to be closed and the 1st Account transferred to another bank/building society. Full details available from First Direct.
Match Current Overdraft Offer: No

Credit Interest

Annual Interest Paid By Balance:
BalanceAnnual Interest Paid
£ 5000 %
£ 1,0000 %
£ 5,0000 %
£ 10,0000 %
£ 25,0000 %
Headline Interest Rate: 0 % AER
Monthly Reward: £ 0

Overdrafts

Cost of Authorised Overdraft:
ScenarioCost
£ 250 overdrawn by 5 days£ 0
£ 500 overdrawn by 10 days£ 1
£ 1,000 overdrawn by 30 days£ 9
Overdraft Available: Yes
Authorised Overdraft Rate: 15.9 % (equivalent to 1.24 % per month)
Unauthorised Overdraft Rate (APR/EAR): 15.9 % (equivalent to 1.24 % per month)
Interest Free Overdraft: First £ 250 is interest free
Overdraft Fees Apply From: £ 10 overdrawn
Cost of Unauthorised Overdraft: £5 per day
Cost of £100 Overdraft Breach for 10 Days: £ 50

Payment options

ATM Card
Cheque Book
Passbook
Debit CardVisa
Standing Order
Direct Debits

Access and usage

Banking by
Bank
Post
Phone
Internet
Maximum ATM Withdrawal: £ 500

Perks

Preferential rates onsavings, mortgage, loan, credit card
Prepaid card
Home emergency cover
Extended warranty cover
Airport lounge access
Preferential travellers money rates
Preferential travellers cheque rates
Free life insurance
Free home insurance
Free car insurance
Breakdown cover
Voucher and discount deals
Entertainment deals
Mobile phone cover

Charges

Potential Monthly Fee: £ 10
Charges for Unpaid Items: None
Charges for Paid Items: None

Cost Abroad

ATM Charge Europe: £ 2 when withdrawing the equivalent of £ 100
ATM Charge World: £ 2 when withdrawing the equivalent of £ 100
Debit Card Charge Europe: No exchange rate fees
Debit Card Charge World: No exchange rate fees

Additional Charges

Charge for Replacement Statement: £ 0
ATM Withdrawal Charge: £ 0
Bankers Draft Charge: £ 20
Special Clearance Charge: £ 15
Charge For Cheque Receipts: £ 0
Bankers Reference Charge: £ 11
CHAPS Charge: £ 25
Charges For Cancelled Cheques: £ 7

Moneywise Best Buys

Current Accounts

ProductAER
Nationwide FlexDirect - Nationwide Building Society5%
Current Account - Tesco Bank3%
TSB Classic Plus - TSB3%
Bank of Scotland Vantage Classic Account - Bank of Scotland2%

Customer ratings

About the bank

  • Protection Scheme: This account is covered by the Financial Services Compensation Scheme.
  • Banking Licence Held By: HSBC Bank plc