First Direct | Current Account

9585 reviews

Monthly fee: Free

AER: 0%

First Direct | Current Account customer reviews.

9585 reviews

3.6 out of 5 stars

Our review of First Direct | Current Account

Although the first direct Current Account does come with a £10 fee, you won’t have to pay this for the first six months and can avoid it afterwards as long as you deposit at least £1,000 into your account, or keep a monthly average of £1,000 in your account. Even though you may have to pay the initial fee, you can still benefit from the added extras that first direct such as mobile phone insurance and 24 hour car breakdown. If you like to travel then it’s handy to know that you’ll also receive worldwide travel insurance and if you withdraw local currency from an overseas ATM you will pay reduced rates.

Switching to the first direct Current Account can also earn you a bonus sum of £100, as long as you have an income of at least £1,000 going to the account in the first three months. When you open the account you will most likely be granted an initial overdraft balance of £500 – the first £250 of this is fee-free. One thing to watch out for is that any balance over £250 is charged at an interest rate of 15.9% and if you slip over your allocated overdraft then you’ll incur a charge of £5 per day - which could quickly add up.

Looking online at reviews, first direct as a bank have been granted a disappointing rating of ‘bad’ from TrustPilot users. These reviews aren’t specific to their Current Account, but to all the products and services that first direct offer. Particular problems that customers have encountered are slow processing for applications, long call wait times and then being put on hold for lengthy periods of time – the last two are particularly inconvenient considering that first direct are solely online and telephone based.

Overall verdict: The first direct Current Account offers a great range of benefits, both financial and insurance-based. There is also the £100 incentive for switching to this account which is an attractive offering. Although there are ways to avoid the monthly fee for the first six months just beware that this account isn’t free.

Andrew Freelander
Written by
Andrew Freelander
Brand & Content Manager at Choose Wisely

Andrew joined Choose Wisely 5 years ago, originally working in a design capacity to make sure the website was simple to use. Most notably he worked with the Consumer Finance Association to design the comparison table of choice for High-Cost Short Term Finance products.


  • Receive £100 for switching
  • £250 free of overdraft interest
  • Easy to use internet banking
  • Mobile banking app for both iPhone and Android
  • Travel insurance, breakdown cover and mobile insurance
  • Reduced foreign country ATM withdrawals

Minimum criteria

  • You must be over 18 years old
  • You need to have a telephone number
  • You must have an email address
  • No bankruptcy or IVA in the last 6 years


  • Overdraft Rate: 250%
  • Credit Rate: 0%
  • APR: 0%
  • Monthly Fee: £0
  • Interest Rate: 0%

About First Direct | Current Account

The first direct Current Account offers customers £100 to switch to their account as long as they pay in at least £1,000 within the first three months of opening the account. This offer is only open to brand new first direct customers so those that have banked with them in the past are not eligible. For the first six months of opening the account there is no monthly fee, as long as you pay in or maintain an average monthly balance of at least £1,000, after this time the first direct Current Account costs £10 per month.

With the first direct Current Account, customers can benefit from the first £250 of their overdraft being free of charge and thereafter it is charged at 15.9% EAR variable. Your overdraft limit will also be determined by first direct who will take into account the information that is provided during the application process, although an initial limit of £500 is provided to most customers at the time of opening the account.

Customers of the first direct Current Account can access their account and control their finances using internet banking, telephone banking, the first direct mobile app and text banking. As first direct is primarily online, cheques can be paid in at HSBC or Post Office branches. You are also eligible for extra services such as worldwide travel insurance, 24 hour motor breakdown, mobile insurance, and reduced rate foreign currency withdrawals when using an ATM overseas.

Company information

Registration number: 00014259


8 Canada Square, London E14 5HQ

FCA registration

Reference No: 114216

Trading names: HSBC Bank PLC, First Direct

Place of business: 8 Canada Square, London E14 5HQ

Data protection registration

Registration No: Z5734875

Data controller: HSBC BANK PLC

Address: 8 Canada Square, London E14 5HQ

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