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 28 providers reviewed.

Customer happiness	81.93%
Customer trust	73.83%
Complaints performance	56.74%
Transparency rating	84.59%
Fairer Finance score Reviewed Spring 2022	74%

Credit cards

Ranked 2^nd of 30 providers reviewed.

Customer happiness	73.4%
Customer trust	74.82%
Complaints performance	56.75%
Transparency rating	56.64%
Fairer Finance score Reviewed Spring 2022	65%

Home insurance (building and contents)

Ranked 30^th of 49 providers reviewed.

Customer happiness	55.13%
Customer trust	59.4%
Complaints performance	74.22%
Transparency rating	63.19%
Fairer Finance score Reviewed Spring 2022	63%

Mortgages

Ranked 4^th of 21 providers reviewed.

Customer happiness	70.12%
Customer trust	64.11%
Complaints performance	80%
Transparency rating	57.12%
Fairer Finance score Reviewed Spring 2022	68%

Personal loans

Ranked 3^rd of 25 providers reviewed.

Customer happiness	77.3%
Customer trust	73.36%
Complaints performance	56.75%
Transparency rating	73.67%
Fairer Finance score Reviewed Spring 2022	70%

Savings accounts

Ranked 17^th of 49 providers reviewed.

Customer happiness	59.6%
Customer trust	72.14%
Complaints performance	56.75%
Transparency rating	75.29%
Fairer Finance score Reviewed Spring 2022	66%

Bank accounts

Current accounts

First Direct

1st Account

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

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

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

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

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

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

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

Matching sets i
Theft from outbuildings cover limit i	£3,000.00
Escape of water excess i	£50.00
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
24hr helpline i
Finding and repairing a leak	5000

Buildings insurance

First Direct

Home Insurance

Trace and Access i	£5,000.00
Cover for keys if lost i	£1,000.00
Matching sets i
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

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

Travel insurance

Single trip insurance

First Direct

Single Trip (with baggage cover)

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
Abandoning your trip cover limit i	£5,000.00
Emergency medical cover and repatriation cover limit i	£10,000,000.00
Lost or stolen cash i	£300.00
Combined passport & travel cover limit i	£750.00
Missed departure cover limit i	£1,000.00

First Direct

Single Trip

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
Abandoning your trip cover limit i	£5,000.00
Emergency medical cover and repatriation cover limit i	£10,000,000.00
Lost or stolen cash i	£300.00
Combined passport & travel cover limit i	£750.00
Missed departure cover limit i	£1,000.00

Travel Insurance Covid-19 Cover

First Direct

Single Trip

Cancellation cover for if policy holder has covid (confirmed either by test result or doctor's note) within 14 days of departure date? i
Cover for change in the FCDO advice whilst on trip? e.g. between when you fly out and come home?
Does the policy cover medical cover if you catch Covid-19?
Cancellation cover for if travel companion has covid-19 (confirmed either by test result or doctor's note) within 14 days of departure date? i	No mention
Cancellation cover due to a close relative having covid-19 and is admitted to hospital (this person is not travelling but you cancel trip to stay near them)	No mention
Cancellation/curtailment: bereavement of a close relative due to Covid	No mention
Cancellation/curtailment cover if denied boarding by airline because displaying symptoms?
Cover for all aspects of the policy, (EXCEPT cancellation and curtailment) for change in the FCDO advice between when you book and departure?
No additional premium to extend policy due to getting covid-19 (for days of trip extended)

First Direct

Single Trip (with baggage cover)

Cancellation cover for if policy holder has covid (confirmed either by test result or doctor's note) within 14 days of departure date? i
Cover for change in the FCDO advice whilst on trip? e.g. between when you fly out and come home?
Does the policy cover medical cover if you catch Covid-19?
Cancellation cover for if travel companion has covid-19 (confirmed either by test result or doctor's note) within 14 days of departure date? i	No mention
Cancellation cover due to a close relative having covid-19 and is admitted to hospital (this person is not travelling but you cancel trip to stay near them)	No mention
Cancellation/curtailment: bereavement of a close relative due to Covid	No mention
Cancellation/curtailment cover if denied boarding by airline because displaying symptoms?
Cover for all aspects of the policy, (EXCEPT cancellation and curtailment) for change in the FCDO advice between when you book and departure?
No additional premium to extend policy due to getting covid-19 (for days of trip extended)

First Direct

Bank accounts

Current accounts

Foreign use bank accounts

Overdrafts

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

Single trip insurance

Travel Insurance Covid-19 Cover

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