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Encyclopedia > First Direct
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first direct is a telephone and internet based commercial bank in the United Kingdom, a division of HSBC Bank plc. first direct has headquarters in Leeds, West Yorkshire, England, and has over 1.2 million customers. Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... A commercial bank is a type of financial intermediary and a type of bank. ... HSBC Bank plc is a Clearing Bank in the United Kingdom, and is one of the Big 4 high street banks. ... For other uses, see Leeds (disambiguation). ... Coat of Arms of South Yorkshire West Yorkshire is a metropolitan county within the Yorkshire and the Humber region of England, that has a population of 2. ... For other uses, see England (disambiguation). ...


According to MORI and NOP research, first direct has been the most recommended bank in the UK for the past 13 years.


first direct is based at two call centres in Stourton (Leeds) and Hamilton, South Lanarkshire, Scotland. Hamilton is the larger of the two call centres however the Leeds call centre handles risk assessment and some processing roles. Stourton is a hamlet in Staffordshire, England a few miles to the northwest of Stourbridge and close to the village of Kinver, and the hamlets of Prestwood and Dunsley. ... For other uses, see Leeds (disambiguation). ... The Mausoleum of the Dukes of Hamilton, in the grounds of the old Hamilton Palace Hamilton (Hamaltan, in Scottish Gaelic) is a town in Central Scotland. ... South Lanarkshire (Siorrachd Lannraig a Deas in Gaelic) is one of 32 unitary council regions in Scotland, covering the southern part of the traditional county of Lanarkshire. ... This article is about the country. ...

Contents

History

first direct was formed on October 1, 1989 by the Midland Bank, one of the "Big 4" banks in the UK. The call centre has famously never closed since this date. In 1992, it became a part of HSBC following the acquisition of Midland Bank. is the 274th day of the year (275th in leap years) in the Gregorian calendar. ... Year 1989 (MCMLXXXIX) was a common year starting on Sunday (link displays 1989 Gregorian calendar). ... The Midland Bank (now part of HSBC) opened as the Birmingham and Midland Bank in Union Street, Birmingham, England in August 1836. ... For other uses, see HSBC (disambiguation). ... The Midland Bank (now part of HSBC) opened as the Birmingham and Midland Bank in Union Street, Birmingham, England in August 1836. ...


first direct took its first call on 12.01am on the 1st October 1989 - more than 1000 calls were taken within the first 24 hours. By May 1991 the bank had 100,000 customers on its books and by March 1993 it had 250,000, achieving break even first in December 1994.


In April 1995 the bank gained its 500,000th customer and began trialling Internet Banking in July 1997, launching the service fully in 1998. Online banking (Internet banking) is a term used for performing transactions, payments etc. ...


In May 1999 the bank launched text message (SMS) banking, a service through which the bank will alert customers by SMS if the balance on their current account goes below a certain amount, and if set, will send weekly mini-statements also by SMS. SMS may refer to: Short message service, a form of text messaging on cell phones Sega Master System – an 8-bit video game console from the 1980s Seiner Majestät Schiff, His Majestys Ship in the German Kaiserliche Marine and the Austro-Hungarian Navy SMS (comics), a British comic...


In July 2001 the bank's Offset Mortgage was launched. An offset mortgage is a type of mortgage common in the United Kingdom used for the purchase of domestic property. ...


In January 2004 the bank launched first directory, a service whereby additional services were added to your current account such as free text message banking, annual travel insurance and mobile phone insurance for a fixed monthly charge. In April 2004 the bank launched Internet Banking Plus, a service whereby account information was taken by third party Internet Banking from the bank's other accounts with different banks and the information was unified under first direct's Internet Banking Plus service. Blue = countries in current account surplus; Red = countries in current account deficit, 2005 The current account of the balance of payments is the sum of the balance of trade (exports less imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as... Travel insurance is insurance that is intended to cover financial and other losses incurred while travelling, either within ones own country, or internationally. ... Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. ...


The bank has also recently launched a service whereby customers can access accounts via their mobile phone in partnership with Monilink. A similar trial some years previously using WAP technology did not prove sufficiently popular. WAP can stand for: Wireless Application Protocol Women Against Pornography Wild Animal Park Whey Acidic Protein Weak Anthropic Principle, discussed at Anthropic principle Weatherization Assistance Program, discussed at Weatherization World Association of Psychoanalysis, discussed at Jacques-Alain Miller WAP may also refer to: Indian Locomotive Class WAP-5 WAP 7...


Target customers

first direct market their services at busy professionals, describing their customer base as 'money rich' and 'time poor'. first direct's rates are generally uncompetitive in a lot of areas; however, they have high rates of customer retention because of their service. A professional does something as a profession, or receives payment for some activity. ...


Future

Under new Chief Executive Chris Pilling (former Marketing and Customer Service Director of ASDA), the bank aim to launch new services including a premium current account and newer savings accounts. The bank is also in the process of redesigning their credit/debit card layout. This article is about the supermarket chain. ... Look up credit card in Wiktionary, the free dictionary. ... Look up debit card in Wiktionary, the free dictionary. ...


In September 2007 a comprehensive overhaul of the existing current accounts was announced. From 1 November 2007 the new 1st Account will replace all existing current accounts. The new account, unlike the old ones, pays no interest for credit balances, but offers a range of new facilities not available on the old accounts. These include the new linked Everyday e-Saver and Regular Saver accounts, both offering competitive rates of interest. A monthly automated sweep facility is also available, along with free text message banking and an interest-free £250 overdraft facility.


Customer charging

Shelving earlier plans to introduce across-the-board charging for current accounts and offering rewards for customer loyalty, the bank announced plans in November 2006 to introduce a £10 per month charge to customers who credit less than £1500 per month to their current accounts or maintain an average balance of less than £1500 per month. These plans have sparked outrage amongst UK customers who have up until now have received free banking for current accounts in credit. The charge does not apply if a customer holds any other first direct product (including savings accounts, credit cards, mortgage, home or car insurance) in addition to a current account. [1]


External links


  Results from FactBites:
 
First direct - Wikipedia, the free encyclopedia (324 words)
First Direct is headquartered in Leeds, West Yorkshire, England, and has over 1.2 million customers.
First direct was formed on October 1, 1989 by the Midland Bank, one of the "Big 4" banks in the UK.
First direct is based at two call centres in Leeds and Hamilton, South Lanarkshire, Scotland.
BBC NEWS | Business | First Direct to end free banking (463 words)
First Direct is set to charge its customers for running a current account unless they pay in or keep a balance of at least £1,500 a month.
First Direct, the UK telephone and internet banking arm of HSBC, will write to all its 1.3 million customers to let them know how they can avoid the £10 charge.
First Direct said it believed 85% of its customers would be unaffected by the charges.
  More results at FactBites »


 

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