Newest Review: ... and the training that they must receive. If they are not already doing it, First Direct need to set up their own customer service trai... more
What's not to like?!
Member Name: nodbod1
Advantages: Joining and referral incentives, Great customer service
I joined first direct when they were offering a £125 joining incentive (through money supermarket). The usual incentive is £100 which is not to be sniffed at!
Switching went very smoothly and they kept me informed every step of the way. The £100 incentive was paid pretty quickly (less than 6 weeks if I remember correctly) unlike coop for example who took about 5 months to pay their joining incentive!
First direct also have a referral scheme whereby if you refer someone you get £50 and they still get their joining incentive - I referred my partner and the money was paid very quickly!
When you have a First Direct current account, you are entitled to an 8% regular saver which you can pay a maximum of £300 into per month. This is a market leading rate - nothing else comes close to this, however, as it's a regular saver you need to remember that you haven't had the full amount in the account for the whole term. If you've paid the same in each month then halve what you have in at the end and that is what you'll earn the 8% on and this will be subject to tax.
The current account doesn't pay interest - which isn't a problem if the money is just going in and out - I don't leave large sums in there. It does, however, offer a £250 interest free overdraft forever (well for the foreseeable future anyway).
The internet banking is really easy to use - none of these silly little calculators (aka card readers) some banks send out when you want to set up a new payment. On the couple of occasions I have needed to contact the call centre, I've always been very impressed.
I'm not sure it's such a good marketing ploy in the current financial situation to offer £100 if you're not happy with the service and decide to leave but I guess it says a lot about how seriously they take good customer service!
Summary: Happy Banking!