First Direct was founded in 1989 by Midland Bank, whose own name is no longer in use following its acquisition by HSBC in 1992. The First Direct brand lived on with its own name and reputation.

First Direct has no high street branches of its own, relying instead on internet and phone services. But as First Direct is owned by HSBC, customers are able to use the HSBC branch network.

It offers a variety of products such as bank accounts, mortgages, loans and credit cards, savings and investment accounts, as well as life, home and travel insurance.

Their headquarters are based in Leeds, UK.

Our customer experience ratings
Our product ratings

Our product ratings are designed to help you choose a quality product. We rate policies on the key features that are most important for the majority of customers.

Bank accounts

4 products reviewed

Current accounts

1 product reviewed

1st Account

First Direct

1st Account

Feature	Value
Annual fee	£0.00
Maximum cash machine withdrawal per day	£500.00
Part of FSCS	Yes
PayPoint Deposits	No
Card payment fee (£)	£0.00
Monthly Fee	£0.00

Debit Cards

1 product reviewed

1st Account

First Direct

1st Account

Feature	Value
Card payment fee (£)	£0.00
Debit card?	Yes
Maximum cash machine withdrawal per day	£500.00
Number of Free Replacement Cards	All
Account Type	Current
Monthly Fee	£0.00

Foreign use bank accounts

1 product reviewed

1st Account

First Direct

1st Account

Feature	Value
Foreign cash withdrawal fee	0%
Foreign cash withdrawal additional charge	£0.00
Foreign purchases fee	0%
Is there a limit on free cash withdrawals?	Unlimited
Monthly Fee	£0.00

Overdrafts

1 product reviewed

1st Account

First Direct

1st Account

Feature	Value
Risk based overdraft?	No
Arranged overdraft interest free amount	£250.00
Arranged overdraft interest rate (representative EAR)	39.9%
Monthly Fee	£0.00

Credit cards

4 products reviewed

0% balance transfer credit cards

1 product reviewed

Balance Transfer Credit Card

First Direct

Balance Transfer Credit Card

Feature	Value
Duration of 0% balance transfer offer period	20 months
Balance transfer fee during promotional period	2.99%
Representative APR	24.9%
Balance transfer rate during promotional period	0%

0% purchase credit cards

1 product reviewed

Gold Purchases

First Direct

Gold Purchases

Feature	Value
Duration of purchases offer period	12 months
Representative APR	24.9%
Highest APR	24.9%
Purchase rate during promotional period	0%
Representative purchase rate	1.873%

Foreign use credit cards

2 products reviewed

Balance Transfer Credit Card
Gold Purchases

First Direct

Balance Transfer Credit Card

Feature	Value
Representative APR	24.9%
Foreign purchase fee	2.99%
Foreign withdrawal fee	2.99%
Number of days before interest is charged on non-sterling cash transactions	0 days

First Direct

Gold Purchases

Feature	Value
Representative APR	24.9%
Foreign purchase fee	2.99%
Foreign withdrawal fee	2.99%
Number of days before interest is charged on non-sterling cash transactions	0 days

Home emergency cover

1 product reviewed

Boiler Breakdown Cover

1 product reviewed

Home Emergency

First Direct

Home Emergency

Feature	Value
Minimum excess	£0.00
Premium (minimum excess applied)	£4.90
No claims period (Boiler)	0.00
Boiler repair cover limit	£1,000.00
No claims period	0.00 days
Contribution towards the cost of a new boiler if yours is beyond economic repair and is 6 years old or less.	£500.00
Getting access and reinstatement	Sum Insured
Type of pricing	Static
Maximum excess	£0.00
Premium (maximum excess applied)	£4.90
Underwriter	Aviva Insurance Limited
Unoccupied period	60
Individual call out cover limit for boiler repairs	£1,000.00
Time limit	N/A
Temporary emergency heating	They will deliver two electrical heaters to your property
Boiler age exclusions	No exclusion
No claims period for boiler replacement	0.00
Boiler replacement (BER) within 0-4 years cover limit	£500.00
Contribution towards the cost of a new boiler if yours is beyond economic repair and is 5 years old or less.	£500.00
Contribution towards the cost of a new boiler if yours is beyond economic repair and is 7 years old or less.	£500.00
Boiler replacement (BER) within 8-10 years cover limit	£500.00
Boiler replacement (BER) 11-15 years cover limit	£4.00
Primary flue	Yes
Boiler controls	No
Alternative accommodation cover	£1,000.00
Internal gas supply pipe cover	Yes
Annual boiler service	No
Repairs guarantee	Not Mentioned
24/7 claims helpline	Yes
Primary heating system	Yes
Date of price collection	2026-03-03
Plumbing & drainage cover	Yes
Electrical breakdown	Yes
Pest	Yes
Security	Yes

Home insurance (building and contents)

5 products reviewed

Buildings insurance

2 products reviewed

Home Insurance (up to £50,000 contents cover)
Home Insurance (up to £80,000 contents cover)

First Direct

Home Insurance (up to £50,000 contents cover)

Feature	Value
Escape of water excess for buildings	£50.00
Matching sets (Buildings)	No
Frozen pipes	Yes
Trace and access	£5,000.00
Underground pipes, cables and tanks	Optional

First Direct

Home Insurance (up to £80,000 contents cover)

Feature	Value
Escape of water excess for buildings	£50.00
Matching sets (Buildings)	No
Frozen pipes	Yes
Trace and access	£5,000.00
Underground pipes, cables and tanks	Optional

Contents insurance

2 products reviewed

Home Insurance (up to £80,000 contents cover)
Home Insurance (up to £50,000 contents cover)

First Direct

Home Insurance (up to £80,000 contents cover)

Feature	Value
Matching sets (contents)	No
Theft from outbuildings	£3,000.00
Cover for items away from home	Optional
Money in the home	£750.00
Property owner liability	£2,000,000.00
Escape of water excess (minimum)	£50.00

First Direct

Home Insurance (up to £50,000 contents cover)

Feature	Value
Matching sets (contents)	No
Theft from outbuildings	£3,000.00
Cover for items away from home	Optional
Money in the home	£750.00
Property owner liability	£2,000,000.00
Escape of water excess (minimum)	£50.00

Home Legal Cover

1 product reviewed

Legal Expenses

First Direct

Legal Expenses

Feature	Value
Limit of indemnity per claim	£50,000.00
Employment - employee	Yes
Property damage	Yes
Contract disputes - pursue	Yes
Property disputes	Yes
Standard advisors cost	£100.00
Employment - excess	£0.00
Contract disputes - defend	Yes
Data protection	No
Jury service - maximum indemnity limit	N/A

Investing and pensions

1 product reviewed

Stocks and Shares ISAs (self-invested)

1 product reviewed

Stocks and Shares ISA

First Direct

Stocks and Shares ISA

Feature	Value
Cost per share trade	£10.50
Annual Shares Platform Fee	0.00%
Annual investment funds platform fee	N/A

Personal loans

1 product reviewed

Personal Loan

First Direct

Personal Loan

Feature	Value
Representative APR (on £2,000 loan, 36 month term)	13.5%
Representative APR (on £5,000 loan, 36 month term)	7.4%
Representative APR (on £15000 loan, 36 month term)	5.9%
Unpaid Repayment Fee	£0.00
Early settlement fee (Days interest)	58 days
Minimum borrowing amount	£1,000.00
Maximum borrowing amount	£50,000.00
Minimum borrowing length	12 months
Maximum borrowing length	96 months

Savings Accounts

4 products reviewed

Easy Access Accounts

2 products reviewed

Bonus Savings Account
Savings Account

First Direct

Bonus Savings Account

Feature	Value
Interest Rate (AER)	1.05%
Balance Tiers	1.05% from £1
Minimum Opening Balance	£1.00
Withdrawal Penalty	N/A
Part of FSCS	Yes
Bonus Rate	N/A

First Direct

Savings Account

Feature	Value
Interest Rate (AER)	1.05%
Balance Tiers	1.05% from £1
Minimum Opening Balance	£1.00
Withdrawal Penalty	N/A
Part of FSCS	Yes
Bonus Rate	N/A

Easy Access Accounts (Less than £3000)

1 product reviewed

Savings Account

First Direct

Savings Account

Feature	Value
Interest Rate (AER)	1.05%
Balance Tiers	1.05% from £1
Part of FSCS	TRUE
Minimum Opening Balance	£1.00
Additional Opening Criteria	Must have a First Direct 1st Account
Average Interest Rate (AER)	2.02%
Bonus Rate	N/A
Average Interest Rate (AER) 12-months	1.53%

Easy Access Accounts (£3000 or more)

1 product reviewed

Savings Account

First Direct

Savings Account

Feature	Value
Interest Rate (AER)	1.05%
Balance Tiers	1.05% from £1
Part of FSCS	TRUE
Minimum Opening Balance	£1.00
Additional Opening Criteria	Must have a First Direct 1st Account
Average Interest Rate (AER)	2.02%
Bonus Rate	N/A
Average Interest Rate (AER) 12-months	1.53%

Savings Accounts (ISAs)

1 product reviewed

Easy Access ISAs

1 product reviewed

Cash ISA

First Direct

Cash ISA

Feature	Value
Interest Rate (AER)	2.75%
Minimum Opening Balance	£1.00
Part of FSCS	Yes
Withdrawal Penalty	N/A

Our unique Customer Experience Ratings help consumers find companies that offer a good service.

Bank accounts

Ranked 2nd of 23 providers reviewed

Customer happiness score	78.6%
Customer trust score	75.12%
Complaints performance	70.41%
Transparency rating	88.03%
Fairer Finance Score Reviewed Autumn 2026	78.04%

Credit cards

Ranked 3rd of 33 providers reviewed

Customer happiness score	74.91%
Customer trust score	79.99%
Complaints performance	70.42%
Transparency rating	57.87%
Fairer Finance Score Reviewed Autumn 2026	70.80%

Home insurance (building and contents)

Ranked 28th of 47 providers reviewed

Customer happiness score	58.27%
Customer trust score	54.7%
Complaints performance	67.42%
Transparency rating	68.29%
Fairer Finance Score Reviewed Autumn 2026	62.17%

Mortgages

Ranked 7th of 17 providers reviewed

Customer happiness score	63.87%
Customer trust score	64.87%
Complaints performance	75.5%
Transparency rating	64.7%
Fairer Finance Score Reviewed Autumn 2026	67.10%

Personal loans

Ranked 2nd of 22 providers reviewed

Customer happiness score	72.73%
Customer trust score	77.74%
Complaints performance	70.41%
Transparency rating	76.38%
Fairer Finance Score Reviewed Autumn 2026	74.31%

Savings Accounts

Ranked 9th of 55 providers reviewed

Customer happiness score	70.7%
Customer trust score	77.33%
Complaints performance	70.41%
Transparency rating	83.3%
Fairer Finance Score Reviewed Autumn 2026	75.44%

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First Direct

Bank accounts

Current accounts

First Direct

1st Account

Debit Cards

First Direct

1st Account

Foreign use bank accounts

First Direct

1st Account

Overdrafts

First Direct

1st Account

Credit cards

0% balance transfer credit cards

First Direct

Balance Transfer Credit Card

0% purchase credit cards

First Direct

Gold Purchases

Foreign use credit cards

First Direct

Balance Transfer Credit Card

First Direct

Gold Purchases

Home emergency cover

Boiler Breakdown Cover

First Direct

Home Emergency

Home insurance (building and contents)

Buildings insurance

First Direct

Home Insurance (up to £50,000 contents cover)

First Direct

Home Insurance (up to £80,000 contents cover)

Contents insurance

First Direct

Home Insurance (up to £80,000 contents cover)

First Direct

Home Insurance (up to £50,000 contents cover)

Home Legal Cover

First Direct

Legal Expenses

Investing and pensions

Stocks and Shares ISAs (self-invested)

First Direct

Stocks and Shares ISA

Personal loans

First Direct

Personal Loan

Savings Accounts

Easy Access Accounts

First Direct

Bonus Savings Account

First Direct

Savings Account

Easy Access Accounts (Less than £3000)

First Direct

Savings Account

Easy Access Accounts (£3000 or more)

First Direct

Savings Account

Savings Accounts (ISAs)

Easy Access ISAs

First Direct

Cash ISA

Bank accounts

Credit cards

Home insurance (building and contents)

Mortgages

Personal loans

Savings Accounts