Charges

Banking fee

We charge a £10 banking fee every month (or part of a month) that you hold a 1st Account, which will be debited from your account monthly in arrears.

You won't have to pay a banking fee:

• for the first six months after opening your account
• any month you pay a minimum of £1,000 into your account* or you maintain an average monthly balance on your account* of £1,000 (month means calendar month - we'll work out the average monthly balance by adding together the end of day balances of each day during the month and dividing the result by the number of days in that month). Money can't be sent from another first direct account
• any month you hold a first direct Mortgage, Credit Card, Personal Loan, Savings Account (*excludes Regular Saver Account), First Directory, or first direct Home Insurance policy
• on any second or subsequent 1st Account in the same name. (If you hold a sole and joint account, your joint account will not be considered to be in the same name unless all joint account holders are the same)
• if your account is inactive for more than 90 days and the balance of your account is less than £10.

If you have more than one current account with us, each one will be treated individually in respect of balances and credits received, and won't be aggregated when assessing whether a fee is payable.

first direct debit card

Using your card outside the UK

All foreign debit card payments or cash withdrawals outside the UK are converted to Sterling by VISA or MasterCard (as appropriate) using their Payment Scheme Exchange Rate which applies on the day of the conversion. Details of the current wholesale market exchange rates can be obtained by calling us on these numbers: in the UK  03 456 100 100 (Text-phone 03 456 100 147) or from outside the UK +44 113 234 5678 (Text Relay+44 151 494 1260).

For all foreign currency transactions, including cash withdrawals, we'll charge a fee of 2.75% of the transaction. This fee will be shown as a separate line on your statement as a 'non-Sterling transaction fee'. We'll deduct the payment from your account once we receive details of the payment from the card scheme, at the latest, the next working day.

See more information on the rate of exchange Visa  Opens an overlay [Will show a security message first]used when converting your transaction.

Using cash machines outside the UK

When using cash machines outside the UK, as well as the non-Sterling transaction fee (described above), we'll also charge an ATM transaction fee: currently 2% (minimum £1.75, maximum £5.00). But if you're a First Directory customer, you won't be charged this extra fee (applies to the account the First Directory fee debits from).

Please be aware that some cash machine operators may also apply an additional charge for withdrawals made from their cash machines, and this will be advised on screen at the time of withdrawal.

Credit card charges

Cash advance

2.99% cash fee, minimum £3.00 (includes cash withdrawals both in the UK and abroad, internal transfers, the purchase of foreign currency, travellers cheques and certain balance transfers, but not gambling transactions).

Foreign usage

2.99% of the amount of the non-Sterling transaction (a foreign currency) will be added as an adjustment to the exchange rate. Non-Sterling transactions are converted to Sterling by VISA using wholesale market rates applying on the day conversion is made, usually the date the transaction is applied to your account. For more information please visit Visa. Opens an overlay [Will show a security message first]

These charges will be deducted from your account when you ask for the service. We may make a charge for any enquiries we receive in respect of each payment instruction, whether made by you or another person. We won't charge you if we've made a mistake. We'll advise you of the charge before we start investigations on your behalf.

If you give us incorrect information, and you ask us to try to recover the money you sent, we may charge you for this service. We'll give you the details of our charges before we try to recover the money you sent. The recipient's bank may also charge you if this happens.

For some payments we may also deduct from your account charges made by agents, intermediary banks and the recipient's bank, as agreed with you in the first direct Terms.

All cut-off times quoted are GMT (Greenwich Mean Time - the time in London).

Overdraft charges

You can request an arranged overdraft, or request an increase to your existing arranged overdraft limit, on your 1st Account (but not on a savings account) by either:

• making a formal request -  before you make any payments or withdrawals from your account that take you over an existing arranged overdraft limit, you ask us for, and we agree to provide you with, an arranged overdraft or an increase to an existing arranged overdraft limit
  

or

• by making an unarranged overdraft request, which happens when we agree to lend you money to cover a payment from your 1st Account and either:
  • the balance on your 1st Account exceeds your arranged overdraft limit; or
  • your 1st Account goes overdrawn and you don't have an arranged overdraft limit in place.

We may charge an Unarranged Overdraft Usage Fee for any day your Account is in unarranged overdraft.

Daily Unarranged Overdraft Usage Fee

We may charge you an Unarranged Overdraft Usage Fee of £5 on any day your 1st Account is in unarranged overdraft. We won't charge this fee if:

• covering funds are paid in before the end of the day, or
• your Account is in unarranged overdraft by £10 or less, or
• your Account has been in unarranged overdraft for more than 30 consecutive days.

The monthly cap on unarranged overdraft charges for your 1st Account is £80.

Monthly cap on unarranged overdraft charges (effective from 1 August 2017)

1. Each current account will set a monthly maximum charge for:

(a) going overdrawn when you have not arranged an overdraft; or

(b) going over/past your arranged overdraft limit (if you have one).

2. This cap covers any:

(a) interest and fees for going over/past your arranged overdraft limit;

(b) fees for each payment your bank allows despite lack of funds; and

(c) fees for each payment your bank refuses due to lack of funds.

The introduction of the Monthly Maximum Charge will not affect any charging period that ended prior to 1st August 2017. Any notification of charges that are generated on or after 1st August 2017 will incorporate the new Monthly Maximum Charge cap.

We will never charge:

• more than £80 in Daily Unarranged Overdraft Usage Fees in a charging month, or
• more in Daily Unarranged Overdraft Usage Fees than the maximum amount your Account has been in unarranged overdraft during a charging month, or
• if your 1st Account is in unarranged overdraft because an arranged overdraft charge or interest has been deducted.

A charging month normally starts on the day in the month you originally opened your account.

Before we deduct overdraft interest and overdraft charges, we will give you at least 14 days notice of the amount to be deducted.

Please note that in addition to the above we operate some discretionary policies as to how charges (including overdraft usage fees and overdraft interest rates) apply to overdrafts.

Overdraft charges: when we charge them and what you might pay

If you use your 1st Account to send money when you:

• don't have enough money in your account and haven't agreed an arranged overdraft with us, or
• go over your arranged overdraft limit.

you may have to pay overdraft charges.

Below, we've given examples of what we might charge you for sending money from your account when you haven't enough money - you can use your bank statements to identify scenarios that might apply to you. Once you have worked out reasons why you might be charged, it could help you avoid charges in future.

Example 1

We refuse a payment from your account because there is not enough money in your account.

No charge

Example 2

A payment from your account takes you into an unarranged overdraft by less than £10, but you notice and put some money in your account straight away, so you are less than £10 overdrawn or over your current arranged overdraft limit for just one day during the charging month.

No charge (you were less than £10 overdrawn)

Example 3

A payment from your account takes you into an unarranged overdraft and you make another payment from the account while you are overdrawn or over your limit. All in all, you are in unarranged overdraft for two days during the charging month.

£10 charge (2 days at £5 a day)

Example 4

A payment from your account takes you into an unarranged overdraft, and you make eleven more payments from the account while you are overdrawn or over your overdraft limit. You end up being in unarranged overdraft for 10 days during the charging month.

£50 charge (10 days at £5 a day)

Example 5

A payment from your account takes you into an unarranged overdraft for one day by £10 or less. However, on three more occasions during the month, payments take you into an unarranged overdraft of more than £10, and on each of these occasions you are in unarranged overdraft for three days in a row.

£45 charge (while you were in an unarranged overdraft for 10 days, on one of them the unarranged overdraft was less than £10, so you only pay charges for nine days at £5 a day).

Example 6

A payment from your account takes you into an unarranged overdraft. You are in unarranged overdraft for 21 days in a row during the month and you make 12 more payments from the account while you are in unarranged overdraft.

£80 charge (even though you were in an unarranged overdraft for 21 days, we will never charge more than £80 per charging month in Daily Unarranged Overdraft Usage Fees).

These examples are meant to show how different actions can result in different charges, and they are only examples, so you shouldn't see them as actions you might take and charges you might have to pay, and we might not allow you to use your account in the ways shown.

It's best to avoid going over your agreed limit wherever possible and you should contact us if you need help to manage your account or are struggling with your finances.

For details of all the charges and interest rates for your 1st Account, please see the Banking charges page.

About your overdraft

When you open a 1st Account we automatically offer you a £500 arranged overdraft. We review this limit each year and your facility can be more or less than £500. If you have a first direct account you can check your arranged overdraft limit by logging onto Online Banking, calling us on 03 456 100 100, or by referring to your most recent facility letter.