First Direct To Drop £10 Per Month Account Maintenance Fee

Announced to customers via email, First Direct are planning to remove the current £10 per month account maintenance fee on their 1st Account.

The change is due to take place on the 14th September, meaning that customers who do not meet the criteria for no fees (such as paying in more than £1000 per month) will no longer have to pay the monthly fee.

Fee for maintaining your 1st Account

From 14 September 2019 we’re no longer charging £10 per month for our 1st Account – this doesn’t apply to most people anyway so we’re scrapping it

The change is likely in response to pressure from challenger banks such as Starling and Monzo which offer zero fee accounts.

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ServiceGood ForSavings InterestFCFS ProtectedMore
StarlingBudgeting, Saving0.25% – 0.5%More
MonzoBudgeting, SafetyNoneMore
Revolut🌏 💱NoneNoMore
Atom BankSaving, Mortgages0.8% – 1.8%More
TandemSaving1.6% – 2%More
PlumInvesting, FacebookNoneNoMore
ChipSaving0% – 5%NoMore
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