NEW RULES on opening First Direct

[voodoomox]

Looks like FREE banking is gone forever for people earning lower than £23,300 a month for new comers....

 

Banking with first direct usually costs £10 a month, but it's free when you pay in at least £1,500 to your 1st Account each month, or maintain an average monthly 1st Account balance of £1,500 or hold a first direct mortgage (or a selected additional first direct product if your account was opened before 2 February 2009).

the 1st Account from first direct - charges

[Bookworm]

It's not gone, just bank elsewhere. :-?

 

The FD fee paying account was always very much as a testing ground to see if people would stand for it. The fact it hasn't been rolled over elsewhere and taken up by other banks tells you all you need to know about the success of the experiment, lol. ;-)

 

I think it will be a while before other banks try to follow suit, and if they do it all at the same time, then they may find themselves scrutinised again. Besides, all it takes is one to break ranks and that will be that for the lot of them, so I wouldn't be so sure we will see the fee-paying account back just yet. ;-)