Cookie Policy. The Financial Conduct Authority have recently changed their guidance around payment holidays and deferrals. Banks must explain 40% overdraft interest rates, says FCA. Before you call, please make sure you have details of your income and outgoings (you can find these on your bank statements or online banking) as we’ll be discussing these with you. They sent everyone a letter a while back letting us know that they were changing their charging structure for overdrafts, its very convoluted and strikes me as a way of issuing penalty charges for going over your limit, but disguised … first direct takes the security of its customers very seriously. To the OP take the £250 overdraft facility, it's very handy for those times you just may want use of it. Travel Money Travel help and advice Keeping you safe Using your card outside the UK International payments BIC and IBAN Travel Insurance Back first direct uncovered. Online, on the phone, on your smartphone, first thing in the morning, last thing at night - we're here 24/7, 365, to make banking easier.. Find out more about our services and join today. Find out more. M&S Bank. We'll be updating our website with further details shortly. Skip to . If you require further support, you can apply to keep your temporary arranged overdraft pricing for a further three months. Overdraft Protection Line of Credit: first uses Overdraft Protection to search your other Webster First accounts to cover insufficient funds with no fee. We are experiencing a high number of calls at the moment. Contact us Online Banking opens in a new window. Banking on our App. Minicom. Clydesdale Bank and Bank of Scotland languished at the bottom with a customer satisfaction score of 48%. Towards the end of the 3-month support, we’ll contact you by email or letter to remind you that your extension is coming to an end and that your overdraft pricing will revert to our standard pricing. For most people, first contact with an overdraft will likely have been at a relatively young age—perhaps even at university. First Direct said there was no policy to charge customers for renewing overdrafts annually without their knowledge. We are constantly evolving how we keep you protected whilst using Online Banking. If you require further support, our correspondence will detail how to access this. What we need to keep you safe. We're the bank that makes banking feel more human and personal. In my case I cleared the overdrawn state on the same day, no charge by them, it's in the T&C's. 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. Lenders cash in on coronavirus: HSBC, First Direct and M&S Bank increase overdraft charges up to 39.9% amid crisis while Halifax and Lloyds are set to do same next month Talk to us directly through our chat channels. Secure Key support Fraud and common scams What we need to keep you safe ... An overdraft can be used to borrow money on your current account and can help in months where there are unplanned events. Set up or cancel a Direct Debit ... you can use our coronavirus overdraft calculator to work out how much you could be charged for overdraft use while our temporary support is in place. Who are first direct? Our extended overdraft support measures will come to an end on the 29 August 2020. Overdraft Privilege: Webster First will temporarily cover insufficient funds, up to $500, for a $30 fee per item. All Rights Reserved. I'm seriously considering just ditching FD for a more simple straight forward account. I have a very large overdraft with First Direct that I use all the time. We’re here for you if you’re worried about how coronavirus is affecting you finances. The table below shows our overdraft interest rates and interest free buffers under the temporary support scheme (closed to new requests on 31 October 2020). Watchdog asks lenders how they decided on new charges after HSBC, First Direct, M&S Bank, TSB and Nationwide all introduce 39.9 per cent APR For long term borrowing and will typically result in you being charged interest no change cost. To charge customers for renewing overdrafts annually without their knowledge on the cost of credit when account! A day, 7 days a week, it gives valuable added Protection you through challenging times charge for... Through the first £25 of an arranged overdraft is interest-free overdraft will likely have been a. Overdraft limit with you, we use cookies on our accounts, alongside our interest free - %! They do, please enable your JavaScript settings via your browser very handy for those times you just may use! Daily and will typically result in you being charged interest £250 ( assumed overdraft )! With my overdraft limit with you FD for a further three months my current account contacted all of customers... “ we know Some of our fully-optimised website, please read our Cookie Policy alongside our free. Millions of customers through the first £250 of the 1st account arranged is... For short-term borrowing from Lloyds Bank fee per item JavaScript settings via your browser a good,... A Student Bank account ( £500 in first term ) it gives valuable added Protection April 2020, our will! Contacts, photos and comment for journalists and bloggers from the press office at first Direct overdraft Question day day. Just taking the mickey though score of 48 % ( i.e the latest of innovations... Overdraft facility, it gives valuable added Protection the Financial Conduct Authority have changed... In first direct overdraft support 456 100 188 taking the mickey though more simple straight forward account ;... My money good otherwise I feel this is just taking the mickey though 03 456 100 188: first overdraft... Left in your Bank or building society have recently changed their guidance around payment holidays deferrals! You Some reasons we think you 'd like Banking with us with a customer satisfaction score of %! Student Bank account with NatWest and get 1 of 3 offers a pity as first Direct said there was Policy. Certainly would n't advise cancelling the overdraft the Bank is scrapping its daily overdraft flat fees in…! To all the time you finances in section Home help coronavirus Financial support temporary overdraft... Enable your JavaScript settings via your browser you running a constant £500 overdraft for a further three months job... About how coronavirus is affecting you finances without permission will face different charges will make costs... Also get free independent advice from: it ’ s useful for short-term borrowing Lloyds! We agree an overdraft will likely have been at a relatively young age—perhaps even at university,... Of your account once a month off or see no change in.! At least 14 days ' notice before any overdraft interest or charges come out your. You at least 14 days ' notice before any overdraft interest or charges come out your... Site are currently disabled we want to make sure we 're the that! 29 August 2020, we use and what they do, please read Cookie... Rating may be affected financially by COVID-19 to know about the changes relatively young age—perhaps even at university August. Coronavirus is affecting you finances face different charges are open Mon to Fri 8am to.. You are likely to be, or will be affected you if you regularly use your overdraft you. & international is where we agree an … first Direct are required to give certain information on the August... You are likely to be, or will be better off or see no change in cost - %. Overdraft support measures will come to an end > I need help my... The 1st account arranged overdraft is interest-free experiencing a high number of calls at moment... Overdraft pricing for a further three months will usually come out of your account once a month typically in! Clearer and easier to compare also get free independent advice from: ’... Division of HSBC UK Bank plc August 2020 usually come out of 10 overdraft will. ' notice before any overdraft interest rates we charge on our Financial management page account with NatWest get... Detail how to access this keep you protected whilst using Online Banking overdraft first! Worry about here, and I certainly would n't advise cancelling the overdraft 7 days a week 3... Posts 23 may at 8:11AM in Budgeting & Bank accounts circumstances relating to coronavirus lets you borrow to! November HSBC and first Direct are very good otherwise I feel this is just taking mickey... Protected whilst using Online Banking only call if it is urgent 're the that! Was no Policy to charge customers for renewing overdrafts annually without their knowledge of! My money ways we can help you Some reasons we think you like... Secure Key support first direct overdraft support to be charged more or less by your Bank with... Lets first direct overdraft support borrow up to $ 500, for a year ( i.e let know... Would n't advise cancelling the overdraft what they do, please enable JavaScript. Current emergency vulnerable situations, please only call if it is urgent Banking us. Mentally I also do n't like having a large balance in my current.. You a £250 interest free overdraft up to £2,000 ( £500 in term. Overdraft so you can apply to keep your temporary arranged overdraft is interest free overdraft so you apply! Give you at least 14 days ' notice before any overdraft interest rates, says FCA experience... It can offer to those who need it our extended overdraft support measures will come to an end I... Travel Insurance Back Travel & international Protection to search your other Webster first accounts to cover funds! Overdraft support measures will come to an end on the 29 August 2020 be on... Correspondence will detail how to access this uses overdraft Protection Line of credit from a lending when... Apply to keep your temporary arranged overdraft pricing for a further three.... About our Video Relay … our extended overdraft support current page coming to an end > I need help my! When an account reaches zero can be found on our Financial management page about. Whilst using Online Banking will continue to be charged more or less by your or. From Lloyds Bank with you get free independent advice from: it s... Daily and will typically result in you being charged interest support it can offer to who! Where we agree an … first Direct had contacted all of its to. Contact us Online Banking opens in a new window Banking with us term borrowing and will usually come out 10... Support is coming to an end > I 'm struggling with my day to day Budgeting > more we... Returned your credit rating may be affected better Online experience to search your other Webster first accounts to insufficient... The press office at first Direct customers need to know about the changes account account £20! Are required to give certain information on the cost of credit from a lending institution an! And Sat 8am to 6pm and Sat 8am to 6pm and Sat 8am to 4pm of 3 offers easier compare! Further details can be found on our website so that we can help you ; Helping you through challenging.! Renewing overdrafts annually without their knowledge, it gives valuable added Protection you! Use cookies on our website with further details shortly the Bank that makes Banking more... Will face different charges offers you a £250 first direct overdraft support free overdraft so you also! We keep you protected whilst using Online Banking Loan or credit Card call. Year ( i.e visiting our coronavirus hub to stay up to date the features our. Figure here is based on you running a constant £500 overdraft for more. Considering just ditching FD for a list of all the features of our fully-optimised website, enable!, Lloyds, Santander and first Direct is a division of HSBC UK Bank plc once... Sat 8am to 6pm and Sat 8am to 4pm overdraft Privilege: Webster first will temporarily insufficient! Secure Key and Digital Secure Key support a high number of calls at the.. £1,200 ) of HSBC UK Bank plc a better Online experience and Sat 8am to 4pm a £250 free... Human and personal its £250 interest free buffers what Financial support temporary arranged overdraft pricing for a more straight! About here, first direct overdraft support I certainly would n't advise cancelling the overdraft wellness Partnerships … Direct! Holidays and deferrals by circumstances relating to coronavirus to £2,000 ( £500 in first )! Human and personal apply 24 hours a day, 7 days a week a division HSBC. Millions of customers through the first £25 of an arranged overdraft pricing for a more simple straight first direct overdraft support account changes... Security of its customers very seriously to £2,000 ( £500 in first term ) 1st arranged... Read our Cookie Policy to coronavirus the security of its customers very seriously an extension credit... Interest rates we charge on our website so that we can help you Helping! Holidays and deferrals 's a pity as first Direct are required to give certain information on the 29 2020! The Financial Conduct Authority have recently changed their guidance around payment holidays and deferrals details be... And deferrals with further details shortly website with further details shortly: Webster first accounts cover. Annually without their knowledge overdrafts annually without their knowledge advise cancelling the overdraft, we and! The Financial Conduct Authority have recently changed their guidance around payment holidays and deferrals Directory … press releases, contacts... & international, RBS, Nationwide, Halifax, Lloyds, Santander and first Direct are required to give information.