[Smiler]

Just read this about First Direct http://news.bbc.co.uk/2/hi/business/6148776.stm

It's likely to affect people here in NZ with little used FD accounts. :(

[Avalon]

:mad:
Just found out about this too. Im sure I dont have to say on here what I think about this. It woudl have to be moderated.

I should be OK, as I haev more than one product - but thats not the point. Im utterly furious. This is the bank that made itself on no charges. And now a new Chief exec is determining who of us are "important" enough to bank with them ?????

Just been on Moneysaving expert (people are recommending A&L as an alternative - but isnt it them that wont let you have accounts from abroad?).
They are also saying they think this will open the way for all the other banks to start charging on standard accounts.

NOT a happy bunny. And ive sent them a message to say so. :mad:

[hels1977]

Yes I saw that this morning :(

Seems a very strange thing to do. I have a First Direct Account and now it looks unlikley that I will keep hold of it if my cunning plan to, erm :exit comes off as I plan. I can't see their motive, other than to upset customers. People who don't have over 1500 a month going in (which equates to around 28K per annum) and have savings elsewhere are going to be very very stuck, not dormant accounts, but not "rich" enough for First Direct. Silly.

[Avalon]

Yes I saw that this morning :(

Seems a very strange thing to do. I have a First Direct Account and now it looks unlikley that I will keep hold of it if my cunning plan to, erm :exit comes off as I plan. I can't see their motive, other than to upset customers. People who don't have over 1500 a month going in (which equates to around 28K per annum) and have savings elsewhere are going to be very very stuck, not dormant accounts, but not "rich" enough for First Direct. Silly.
They want you to buy more products. If you open a savings account for example - and put £5 in it - it seems you avoid the charge. Totally nuts - and still reprehensible in my opinion.

MSE is saying on thier forums that this is being done to offset the cost of paying back "unfair" bank charges.

I really think they will have lost an awful lot in doing this. Thier reputation is what held them apart from the rest of the banks. They may have lost that - and its something they wont get back anytime soon.

[hels1977]

They want you to buy more products. If you open a savings account for example - and put £5 in it - it seems you avoid the charge. Totally nuts - and still reprehensible in my opinion.

MSE is saying on thier forums that this is being done to offset the cost of paying back "unfair" bank charges.

I really think they will have lost an awful lot in doing this. Thier reputation is what held them apart from the rest of the banks. They may have lost that - and its something they wont get back anytime soon.
Yes couldn't agree more. It's utterly ridiculous and a big pile of stupid red tape :mad:.

What you say about thier reputation is very true, I have always recommended them, I have banked with them for over 10 years including several months in Korea and they have always been brilliant. But in 1 quick move they have destroyed their reputation with many customers and I certainly won't be recommending them anymore. In fact, I think I might just vote with my feet. *goes off to research banking options*.

[incredible hulse]

Have they now got a Kiwi in charge ? :p

[keeweescot]

[QUOTE=Avalon
Just been on Moneysaving expert (people are recommending A&L as an alternative - [/QUOTE]

My 2 cents worth - we had A&L accounts & customer service was appalling & in our experience the processing was very slow. Taking in excess of 4 days to transfer money between A&L accounts & then its our fault for not having the money in to meet mortgage payments so we get charged - even though we phoned customer services to ask the best way to transfer the funds.

I'll stop now before I get really going on them - maybe this one should go on the Grumpy Old Women thread! :mad: :mad: :mad:

[Smiler]

There's also around 1300 comments on the BBC have your say site http://newsforums.bbc.co.uk/nol/thread.jspa?threadID=4741&&&edition=2&ttl=20061115191854

I've had my FD account for a long time too, but it's been almost dormant since being here as I've used Nationwide for everything. I can't recommend them enough but promise to eat my words if they mess up. :D

[Avalon]

I've had my FD account for a long time too, but it's been almost dormant since being here as I've used Nationwide for everything. I can't recommend them enough but promise to eat my words if they mess up. :D
Ill bring the Ketchup :D

[Smiler]

Ill bring the Ketchup :D

and some of this :cheers to wash them down please :laugh