first direct information
This page contains information on the online bank, firstdirect
first direct has been providing a 24 hour banking service since 1989. With no branches - banking's made simple with 24 telephone banking that never closes, a simple-to-use online Internet service, and a text message service. First Direct offers current, savings, credit card loan and mortgage accounts.
| Headlines | 24 hour, 365 day a year banking by phone and Internet A real person every time they call, no scripts, no "press the # key" SMS text message mini-statements sent to your mobile phone |
| Overdraft | Automatic £250 fee-free overdraft. |
| Other services | Online share dealing, smart mortgage, ISA, investment, pensions - all online or over the phone |
| Signup offers | Special sign-up offers: £100 when switching account |
Review of First Direct's Bank Account
According to their press ads, first
direct gets recommended by existing customers every six seconds, and
I'm one of those customers. I've been with First Direct more or less since
their launch fifteen years ago. At that time, the idea of 'branchless' banking
had an appeal - For
me, the biggest selling point of First Direct, and the key reason I recommend
them, is the fact that they provide easy access to your account, 24 hours
a day.
Prior to moving to First Direct, dealing with my daily finances was a hassle
- dealing with cheques, and fitting in with my branch's opening hours. The
idea of fitting in with standard high-street banking hours fills me with dread,
but the option to manage an account online, pick up the phone and get to a
human (without the "press hash" nonsense), their text message statements,
and the option to communicate with them electronically, happens to suit my
lifestyle perfectly.
First Direct offers a full range of financial services as well as their current
account, including savings, ISA, mortgage and loan accounts - rather than
list all that they do here, it's easier to suggest that you look at www.firstdirect.com
to see if they can suit your needs.
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More on first
direct: They were voted Best Online Bank in 2005 by Personal Finance & Savings Magazine, and Best Current Account Provider in the Guardian/Observer 2004 Consumer Finance awards. |
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Their online Internet banking service does the job really well - the interface is clean and easy-to-use, and you can download your statements in a few different formats, for importing into Excel, or Microsoft Money. Their system also lets you set up electronic payments online... something you previously had to do over the phone, so if you owe anyone money, logon, type in the bank details and pay online.
Screenshot of the
First Direct statement screen
News: First Direct to start charging for current accounts.
In November 2006, First Direct announced that it is to end free banking for customers that don't maintain an average current account balance of £1,500, pay in £1,500 a month, or hold another account with First Direct. Users who don't fall into these categories will be charged £10 a month to keep their account opened. The is apparently to cull customers that are not making active use of their current accounts. There's more on this story on the BBC News website. Ifyou're not happy, there are a number of good alternatives to consider, such as the Alliance & Leicester Premier account, which offers a high rate of interest on your current account.
Text Message Banking
A fairly recent introduction is their SMS text message service - sending statements and updates to your mobile. You can set up a range of criteria (via their website), and when the event's triggered, it messages your phone. Mine's set to SMS me a free mini-statement every Friday, alert me when I'm paid, when my account falls below an amount, and when a debit over £200 leaves my account.
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Text Banking
You can also set up the service to send you a message when your account gets above or below a certain balance, or when you're about to go overdrawn. Text Message Banking works with savings, credit cards and the First Direct current account.
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First Direct offers a handy service where you can have free weekly mini-statements sent to your mobile phone as an 
According to independent research, first direct has been the most recommended bank in the UK for the past 12 years, and has had the most satisfied customers of any UK bank for the past 12 years.
Other services and special offers
firstdirect's range of products and services also includes SmartMortgage (combine savings and loans into one scheme to bring the cost of your mortgage down), loans and savings accounts (with rates higher than that of the High Street banks), a credit card (with SMS updates and no annual fee), ISA accounts and a variety of loans. For more details of First Direct, or to sign up, go to www.firstdirect.com
Useful First Direct info:
- Address: First Direct, 40 Wakefield Road, Leeds LS98 1FD
- Email: 24hours@firstdirect.com
- Telephone banking: 08456 100 100
- New customers : 0800 24 24 24
- International number: +44 113 234 5678
- Main switchboard number: 0113-276 6100
- Fax: 0113-276 6663 or 0113-276 6677 or 0113-276 6016 or 0113-276 6774 (press office)
- Website: www.firstdirect.com
International electronic payment details:
- RTN / SWIFT Bank Identifier Code (BIC): MIDLGB22
- IBAN: This appears on your paper statement, or when you print an online statement. For information, ours is constructed as follows: GB08MIDL<sortcode><accountnumber>
- International Sort/Routing/Clearing Code: 021001088
- Beneficiary Bank Name: HSBC International (First Direct)
- Beneficiary Bank Address: 40 Wakefield Road, Leeds LS98 1FD, United Kingdom
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