MollyR's reviews - Smart Money People

Savings interest increased mid-term

5

Normally, with a Regular Saver account, the rate at the start is the rate that you get all the way through. But as interest rates generally started to climb, First Direct suddenly doubled the interest rate from 3.5% to a generous 7%, even though I was just over half-way through the term. I've never known a bank do that before! Reviewed on: 10th January 2023

They do what they do extremely well

5

First Direct is a superb online bank. The web site never falls over; it is easy to navigate, and one has total control of one's accounts. For the odd occasion when one needs to phone up instead, the call is always always answered within two rings; having banked with First Direct since 2017 I have only ever once had to wait on hold for somebody to be free to answer. There are switching bonuses all over the place now, but I would never switch from First Direct. Reviewed on: 5th January 2022

Top bank with top customer service

5

First Direct are what a bank should be. I have been with them since shortly after they began as a telephone-only bank. Only once in all that time have I had to hold on (I think it was about 45 seconds) before speaking to a human; every other time one gets straight through. There are no ghastly computer questions to wade through first. The accounts are well thought out and operate smoothly online; there are none of the computer disasters you hear of from other banks. And until recently the Regular Saver paid a really excellent rate of interest. Reviewed on: 20th November 2019

Got bored and stopped paying out

2

After a catastrophic flood in the year 2000, the company were at first sympathetic; the assessor visited the house, and authorised the first payments. But after he left the firm, it seems that Aviva got bored with the claim, and refused the final payments, without any reason. Reviewed on: 6th July 2019

I wish they would take the direct debit they say they are going to take

4

A decent enough credit card with useful cashback - BUT they do not always take the direct debit amount they say they are going to take (which is supposed to be the full outstanding balance every month). If I make a manual payment to the card during the month (e.g. if I am approaching the credit limit), they deduct this payment from the amount they have already said they will take by direct debit - which means that I generally have to make ANOTHER manual payment in order to cover the difference, and have enough leeway for the forthcoming month. It is very annoying! Reviewed on: 15th April 2019

Customer service is second to none

5

I have used First Direct since shortly after they were set up, and they have never rested on their laurels. Their web site is very rarely inaccessible, and their call centre is superb - in all these years, only once have I been on hold before my call was answered. What is more, their staff know what they are talking about, rather than recite answers from a pre-defined list of queries. Reviewed on: 25th January 2019

An excellent bank

5

First Direct are a superb bank. Not for them, the regular computer crashes of the High Street banks - they are technologically solid. And their customer service is the best there is. Only once, in all the time I have been with them (and I joined in their first year) has my phone call nolt been answered by the second ring. Basically, one can't fault them. Reviewed on: 5th November 2018

Refused to renew for no good reason

3

OK, it's not easy to find annual travel insurance when one is older and has a few pre-existing conditions. The premium we paid to Holidaysafe for several years was quite considerable, and we never needed to claim; nevertheless, when I rang up to renew this spring I was told that they were no longer prepared to cover us. They said they had changed their methods, but I suspect it is just that we were another year older! So I had to go through all the hassle of finding another company to provide us with annual travel insurance, which means ages on the phone. No, I wouldn't recommend Holidaysafe now, although had I been asked a year ago I certainly would have done. Reviewed on: 17th July 2018

Good cashback, but poor customer service

4

The card gives good cashback, but the credit limit I was given is ludicrously low (only £3500, when I have other cards in five figures) and if I pay of part of the month's spending in advance they deduct that from my monthly direct debit, leaving me with less leeway than I had anticipated. I want to clear the card every month in order to start the next month with a full £3500 available to me, but they make it difficult to do that! Reviewed on: 9th April 2018

A good bank with superb customer service

5

Your form insisted that I should select just one product, but I would not have done so out of my own choice; it is First Direct themselves who are so good. I have been with them for around 20 years, and only once in all that time did I find myself on hold when I rang up - and that was only for a few seconds. Their customer service is second to none. They get things right the first time; when you hear of other banks (e.g. NatWest) having data breaches, or letting their computer systems fail so that people cannot access their accounts, it throws First Direct into superb contrast. Nothing like that ever goes wrong. Ever. They are totally and completely trustworthy. Reviewed on: 6th November 2017

Best card for use abroad

5

This is an essential card when travelling abroad - you can use it in any country's currency, and there are no heavy charges to convert it to sterling. Of course the balance should be paid off every month to avoid paying interest, but since you will have included this in the budgetting of your holiday it should not be a problem. Reviewed on: 23rd April 2016

Quite simply, they get it right

5

They provide everything I want from a current account. It is run efficiently, there are no data security problems, I can control every little thing online, and my finances run smoothly and easily. Reviewed on: 20th November 2015

I wouldn't leave them for anything

5

I have been with First Direct since shortly after they started, as an offshoot of the then Midland Bank. Initially it was a matter of telephone banking, but it wasn't long before I could manage my accounts online, and since then I have never looked back. Their customer service and call centre are second to none; their Regular Savings Account (open only to current account holders) offers a superb 6% interest; and although I use Santander's 123 account as a savings account for better interest on lump sums, no offer could tempt me to leave First Direct as my primary bank. Reviewed on: 12th August 2015

Best rate of interest around

5

The Santander 123 account offers the best rate of interest around. If you have between £3000 and £20000 in it, you will get 3% interest on your money - better than any instant-access cash ISA, even taxing tax into account. You have to pay in a minimum of £500 a month, and there is a £2 per month charge; but this is easily offset by the cashback you get on direct debits for utilities, council tax etc. Thoroughly recommended! Reviewed on: 12th August 2015