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.

First Direct
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Gold ribbon: first place

Bank accounts

Ranked 3rd of 28 providers reviewed.

Customer happiness 81.34%
Customer trust 73.03%
Complaints performance 56.42%
Transparency rating 86.15%
Fairer Finance score
Reviewed Autumn 2022
74%
Gold ribbon: first place

Credit cards

Ranked 9th of 31 providers reviewed.

Customer happiness 72.27%
Customer trust 72.74%
Complaints performance 56.42%
Transparency rating 54.03%
Fairer Finance score
Reviewed Autumn 2022
64%

Home insurance (building and contents)

Ranked 38th of 48 providers reviewed.

Customer happiness 53.91%
Customer trust 52.17%
Complaints performance 74.08%
Transparency rating 64.78%
Fairer Finance score
Reviewed Autumn 2022
61%
Gold ribbon: first place

Mortgages

Ranked 6th of 23 providers reviewed.

Customer happiness 72.8%
Customer trust 67%
Complaints performance 78.48%
Transparency rating 53.44%
Fairer Finance score
Reviewed Autumn 2022
68%
Gold ribbon: first place

Personal loans

Ranked 3rd of 26 providers reviewed.

Customer happiness 78.44%
Customer trust 75.63%
Complaints performance 56.42%
Transparency rating 69.5%
Fairer Finance score
Reviewed Autumn 2022
70%
Gold ribbon: first place

Savings Accounts

Ranked 15th of 50 providers reviewed.

Customer happiness 62.02%
Customer trust 72.6%
Complaints performance 56.42%
Transparency rating 80.2%
Fairer Finance score
Reviewed Autumn 2022
68%

Bank accounts

Current accounts

First Direct

1st Account

5 stars
Annual fee i £0.00
Maximum cash machine withdrawal per day i £500.00
Part of FSCS i
Cash withdrawal fee in UK (own bank) i £0.00
Card payment fee (£) i £0.00
App capability? i

Foreign use bank accounts

First Direct

1st Account

1 stars
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 No free cash withdrawals

Overdrafts

First Direct

1st Account

5 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £250.00
Arranged overdraft interest rate (representative EAR) i 39.9%

Credit cards

0% balance transfer credit cards

First Direct

Balance Transfer Credit Card

3 stars
Duration of 0% balance transfer offer period i 27 months
Balance transfer fee during promotional period i 2.29%
Representative APR i 18.9%
Balance transfer rate during promotional period i 0%
Highest balance transfer fee during promotional period (%) i 2.29%
Representative balance transfer rate i 1.456%
Risk based? i

0% purchase credit cards

First Direct

Gold Purchases

5 stars
Duration of purchases offer period i 17 months
Representative APR i 16.9%
Highest APR i 16.9%
Purchase rate during promotional period i 0%
Representative purchase rate i 1.315%
Number of days before interest is charged on purchases i 56 days
Risk based? i

Foreign use credit cards

First Direct

Balance Transfer Credit Card

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 18.9%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.456%

First Direct

Gold Purchases

1 stars
Foreign purchase fee i 2.99%
Foreign withdrawal fee i 2.99%
Representative APR i 16.9%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.315%

Home insurance (building and contents)

First Direct

Home Insurance

3 stars
Matching sets (Contents) i
Theft from outbuildings cover limit i £3,000.00
Escape of water excess i £50.00
Garden plants i £2,500.00
Alternative accommodation cover limit for contents i £10,000.00
Alternative accommodation cover limit for buildings i £80,000.00
Cover for keys if lost i £1,000.00
Money in the home i £750.00
Replace belongings new for old i
Buildings Cover limit i
Contents Cover limit i
24hr helpline i
Temporary freezer storage
Dual Contents i
Business Equipment
Personal possessions cover whilst living in a nursing home or residential care setting i
Medical Equipment Loan i
Theft from bogus officials i

Buildings insurance

First Direct

Home Insurance

4 stars
Trace and Access i £5,000.00
Cover for keys if lost i £1,000.00
Matching sets i
Rainfall (mm) i 25 mm per hour
Alternative accommodation cover limit i £80,000.00
Cover for keys if stolen i £1,000.00
Compulsory excess i £50.00
Escape of water excess i £50.00
24hr helpline i
Property owner liability i £2,000,000.00

Contents insurance

First Direct

Home Insurance

2 stars
Matching sets i
Cover for keys if lost i £1,000.00
Theft from outbuildings cover limit i £3,000.00
Cycles included whilst in the home i Part of sum insured
Replace belongings new for old i
Cover for keys if stolen i £1,000.00
Money in the home i £750.00
Alternative accommodation cover limit i £10,000.00
24hr helpline i

Travel insurance

Single trip insurance

First Direct

Single Trip (with baggage cover)

4 stars
Cancelling before travel cover limit i £5,000.00
Medical excess i £50.00
Personal Possessions and Baggage - damaged, lost or stolen - cover limit i £1,500.00
Cutting trip short cover limit i £5,000.00
Missed departure cover limit i £1,000.00
Abandoning your trip cover limit i £5,000.00
Emergency medical cover and repatriation cover limit i £10,000,000.00
Personal money i £300.00
Combined passport & travel cover limit i £750.00

First Direct

Single Trip

3 stars
Cancelling before travel cover limit i £5,000.00
Medical excess i £50.00
Personal Possessions and Baggage - damaged, lost or stolen - cover limit i £0.00
Cutting trip short cover limit i £5,000.00
Missed departure cover limit i £1,000.00
Abandoning your trip cover limit i £5,000.00
Emergency medical cover and repatriation cover limit i £10,000,000.00
Personal money i £300.00
Combined passport & travel cover limit i £750.00

Travel insurance add-on: cruise cover

First Direct

Single Trip

1 stars
Missed port departure cover limit i £500.00
Re-joining a cruise cover limit i £0.00
Cabin confinement cover limit i £500.00
Missed port departure excess i £100.00
Timetable/itinerary change cover limit i £500.00
Unused excursions cover limit i £750.00

First Direct

Single Trip (with baggage cover)

1 stars
Missed port departure cover limit i £500.00
Re-joining a cruise cover limit i £0.00
Cabin confinement cover limit i £500.00
Missed port departure excess i £100.00
Timetable/itinerary change cover limit i £500.00
Unused excursions cover limit i £750.00

Travel insurance add-on: winter sports

First Direct

Single Trip

4 stars
Ski equipment owned cover limit i £1,000.00
Single owned item cover limit i £300.00
Cover limit for hire of ski equipment due to loss/damage/delay to own equipment i £300.00
Avalanche closure cover limit i £250.00
Piste closure cover limit i £300.00
Ski equipment owned excess i £50.00
Ski equipment hired i £300.00
Single item limit for hired equipment i £300.00
Unused ski pass due to illness or injury i £300.00

First Direct

Single Trip (with baggage cover)

4 stars
Ski equipment owned cover limit i £1,000.00
Single owned item cover limit i £300.00
Cover limit for hire of ski equipment due to loss/damage/delay to own equipment i £300.00
Avalanche closure cover limit i £250.00
Piste closure cover limit i £300.00
Ski equipment owned excess i £50.00
Ski equipment hired i £300.00
Single item limit for hired equipment i £300.00
Unused ski pass due to illness or injury i £300.00