First Direct

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.

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Bank accounts

Ranked 4^th of 33 providers reviewed.

Customer happiness	78%
Customer trust	71%
Complaints performance	68%
Transparency rating	62%
Fairer Finance score Reviewed Autumn 2020	70%

Credit cards

Ranked 1^st of 29 providers reviewed.

Customer happiness	70%
Customer trust	70%
Complaints performance	68%
Transparency rating	53%
Fairer Finance score Reviewed Autumn 2020	65%

Home insurance (building and contents)

Ranked 43^rd of 51 providers reviewed.

Customer happiness	45.69%
Customer trust	43.46%
Complaints performance	73.54%
Transparency rating	64.34%
Fairer Finance score Reviewed Autumn 2020	57%

Mortgages

Ranked 5^th of 21 providers reviewed.

Customer happiness	68.19%
Customer trust	65.72%
Complaints performance	77.09%
Transparency rating	60.26%
Fairer Finance score Reviewed Autumn 2020	68%

Personal loans

Ranked 1^st of 25 providers reviewed.

Customer happiness	73.32%
Customer trust	70.08%
Complaints performance	68.27%
Transparency rating	63.4%
Fairer Finance score Reviewed Autumn 2020	69%

Savings accounts

Ranked 14^th of 47 providers reviewed.

Customer happiness	61.56%
Customer trust	71.29%
Complaints performance	68.27%
Transparency rating	57.49%
Fairer Finance score Reviewed Autumn 2020	65%

Annual fee i	£0
Maximum cash machine withdrawal per day i	£500
Part of FSCS i
Cash withdrawal fee in UK (own bank) i	£0
Card payment fee (£) i	£0
App capability? i

Foreign cash withdrawal fee i	2.75%
Foreign cash withdrawal additional charge i	2% (Minimum £1.75, Maximum £5)
Foreign purchases fee i	2.75%
Is there a limit on free cash withdrawals? i

Risk based overdraft? i
Arranged overdraft interest free amount i	£250
Arranged overdraft interest rate (representative EAR) i	39.90%

Annual reward and cost scenario i	£120.38
Add-ons, cashback and rewards i	Worldwide travel insurance Aviva with winter sports, UK and Europe RAC breakdown insurance, Mobile phone insurance with Aviva (up to two claims),
Estimated amount of money customers get back (minus annual fee) i	£139.99
Part of FSCS or international equivalent i

Duration of balance transfer offer period i	27 months
Balance transfer fee during promotional period i	2.29%
Representative APR i	18.90%
Risk based? i
Balance transfer rate during promotional period i	0%
Representative balance transfer rate i	1.46%

Duration of purchases offer period i	17 months
Representative APR i	16.90%
Highest APR i	16.90%
Risk based? i
Purchase rate during promotional period i	0%
Representative purchase rate i	1.32%
Number of days before interest is charged on purchases i	56 days

Representative APR i	18.90%
Foreign purchase fee i	2.99%
Foreign withdrawal fee i	2.99%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i	0 days
Representative purchase rate i	1.46%

Escape of water excess i	£50
Matching sets i
Theft from outbuildings cover limit i	£3,000
24hr helpline i
Alternative accommodation cover limit i	£80,000
Cover for keys if lost i	£1,000
Money in the home i	£750
Replace belongings new for old i

Finding & repairing a leak cover limit i	£5,000
Cover for keys if lost i	£1,000
Matching sets i
Alternative accommodation cover limit i	£80,000
Cover for keys if stolen i	£1,000
Compulsory excess i	£50
Escape of water excess i	£50
Property owner liability i	£2,000,000
24hr helpline i

Medical excess i	£50
Cancelling before travel cover limit i	£5,000
Personal Possessions and Baggage - damaged, lost or stolen- cover limit i	£1,500
Max trip duration i	31 days
Emergency medical cover and repatriation cover limit i	£10,000,000
Cutting trip short cover limit i	£5,000
Abandoning your trip cover limit i	£5,000
Lost or stolen cash i	£300
Combined passport & travel cover limit i	£750
Natural disaster relocation cover i
Natural disaster baggage cover i
Mental health cover i

Ski equipment owned cover limit i	£500
Single owned item cover limit i	£500
Cover limit for hire of ski equipment due to loss/damage/delay to own equipment i	£200
Ski equipment owned excess i	£50
Ski equipment hired i	£400
Single item limit for hired equipment i	£400
Avalanche closure cover limit i	£200
Piste closure cover limit i	£300
Unused ski pass due to illness or injury i	£300

First Direct

Bank accounts

Current accounts

Foreign use bank accounts

Overdrafts

Premium bank accounts

Credit cards

0% balance transfer credit cards

0% purchase credit cards

Foreign use credit cards

Home insurance (building and contents)

Buildings insurance

Contents insurance

Travel insurance

Annual multi-trip insurance

Single trip insurance

Travel insurance add-on: winter sports

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