First Direct chat

Hits the nail on the head. Surely this would save FD lots of £££s as their customers would notice spurious transactions. Seems a no brainer but FD seem to think differently. They won’t be rushed on anything and whatever you say to them by way of feedback counts for nothing.

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So, I resigned up and gave them my ID, now I need to call them :rofl:

Last time I was with them, they questioned my workplace as the HQ was in Huddersfield and they questioned how I get to work, if I go everyday. just odd KYC questions


I really don’t understand the logic FD & HSBC have applied here. Surely it would’ve been better to use FD as a “test bed” for things like that then rolled it out to the wider network.

I’m aware that while connected they’re also totally separate, systems wise, but it’s actually ridiculous that they say something is “coming soon” for close to a year and a bit now.

I actually don’t mind whether they roll them out or not, the app is really nice and I have missed having them but I’d rather they were honest about timescales.

Generally, it will be a shame if FD just linger on and then go somewhere (which I hope they don’t as they’re actually good) but it does make you wonder if HSBC don’t really know what to do with it anymore.

Heck even FD don’t seem to know what direction to head in most of the time.


When you speak to FD they advise they’re separate from HSBC, however on other occasions they advise they run on the same platform as HSBC. Nothing like having you’re cake and eating it :man_shrugging:t3:


Indeed. Which is funny since the bank card literally says part of the HSBC group and even has the logo.

I think there’s a core group of customers they (HSBC) probably don’t want to lose so that’s why the brand continues. Would be lovely to see it do so, it’s been a pleasure to use.

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I guess HSBC has millions using their app and to keep up with the competition they needed to implement notifications etc.

First direct only recently announced 1mil use their banking app I bet more than half of those don’t care for notifications etc so it wasn’t worth the work. Don’t fix it if it ain’t broke.

HSBC needed to move quicker to keep customers. Assuming built on different platforms, FD is extra work not just a switch.


Yes I suspect that and your point around user interest is valid.

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HSBC notifications are a mess. Too spaces out and don’t look very pleasant on the eye, especially for me :sweat_smile:

So I hope FD addresses that and keeps them tidy.



Here are the key need-to-knows:

  • You’ll need to have a First Direct current account. If you already bank with First Direct, you can open the regular saver online* – apply now and you’ll get the new rate from 1 December. If you’re new to First Direct, the good news is it’s currently paying newbies £175 to switch (see below for more on this).

  • The account lasts for a year from when you open it and the 7% rate is fixed for this period. Your interest will be paid in a lump sum when the account matures.

  • You can only deposit £25 to £300 a month. Your first payment will be taken from your First Direct current account when you open your account, followed by another 11 monthly payments which can only be made by standing order (First Direct will set this up for you).

  • You CAN’T skip months. To keep the account, you have to deposit at least £25 a month for the 12-month duration.

  • There are NO withdrawals allowed. You can access your money before the year is up, but you’ll have to close the account. If you do so, you’ll only get interest equivalent to First Direct’s bog-standard easy-access account (which currently pays 0.5%).


Very restrictive and the way the account works the 7% is not worth it


I agree. Shame really as I’m currently looking for a home for c.£5k. The market seems to change every other day. :weary: R-

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Barclays Rainy Day Saver?


I was literally about post this - that’s where my savings are right now. It has a few caveat’s (don’t they all) but these are easily overcome (join blue rewards, pay a £5 and pay £800 pcm into the account)

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It works the same as most other regular savers - they are designed for people to save monthly and not for a lump sum

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Other regular savers offer a lot more flexibility. The First Direct one isn’t worth the trouble at all unless people exhausted other available options.

It’s advertised at 7% but you’ll get half the interest that you’d expect based on that figure alone, and it’s not like you can leave your money sitting there earning that interest after the initial term like you can with RBS/NatWest


I’m sure we have had this discussion before. You get the 7% on the balance that is currently in the account.

Its actually quite a good account imo as you can deposit £300/month which is twice the amount NatWest now allow you to pay in.


The problem for me is that when you consider the a) limited deposit limits and b) interest rates only paid on first £Xk, whenever I’ve worked it out it’s been more efficient to have a higher amount lumped in an account like Chase where there’s a rate applied to the entire balance (and a higher balance at that), and personally I haven’t got the patience to keep on top of various different accounts each with fairly small amounts in them (especially if they take a year to mature). It’s a shame Chase’s rate is lower compared to others as the way it works otherwise suits my needs significantly better.


That presumes you’ve already got a large lump sum to put away. If you have, you’re not in the target market for regular savers anyway. If you haven’t, then regular savers are perfect for helping you build your savings.

You can have the best of both worlds by drip feeding from your Chase lump sum into a regular saver each month.


I know how it works. But that doesn’t make the account better. You’ll only ever get 7% interest on approximately half your closing balance, and after the year is up, your money is booted out.

With RBS/NatWest you can keep milking the high interest rate as long as you like.

Not to mention the flexibility of withdrawals. If you’re someone who’s just getting into the savings habit, having the ability to withdraw money should you need it can be the difference between going back into overdraft or continuing on a positive course. First Direct forcing you to forfeit any interest if you need access to the money makes it more like a fixed saver but worse because of the drip feeding nature of it.

Overall I think this account offers the worst of both worlds and should only be a last option after exhausting any other high interest accounts