Beat First Direct Bank exchange rates when making an international currency transfer or overseas payment, save time, money and get the best deal. It’s a good idea to evaluate First Direct Bank money transfer options and alternatives to make sure you’re getting the maximum savings possible.
International currency transfers to or from your First Direct Bank account in UK pounds, euros, US dollars and many other popular currencies will involve a margin or exchange rate of around 5.0% and additional bank transaction or commission fees may apply.
First Direct’s international currency transfer rates are much higher than most money transfer providers (money transfer providers rates range between 0.45 to 1.0%).
First Direct Bank is a well-known online and telephone-based bank that was established in 1989. It was the first bank in the UK to operate without any physical branches, providing customers with a convenient and innovative way to manage their finances. First Direct is a subsidiary of HSBC, one of the largest banking and financial services organisations in the world.
Over the years, First Direct has built a reputation for excellent customer service and competitive products, earning numerous awards and accolades in the banking industry. Today, First Direct continues to be a popular choice for customers looking for a modern and efficient banking experience.
International money transfers from First Direct Bank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing First Direct Bank account holder to use their services.
Unless you pay a premium, First Direct Bank’s service can take up to 5 working days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
First Direct Bank may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer.
Save on the exchange rate conversion when transferring money abroad from your First Direct Bank account to or from UK pounds and the euro. First Direct Bank international money transfers to or from the European Union and the UK have higher transaction charges, due to a less competitive exchange rate offered by First Direct. More: First Direct Bank GBP vs EUR money transfer
Save on the exchange rate conversion when transferring money abroad from your First Direct Bank account to or from UK pounds and the US dollar. First Direct Bank international money transfers to or from the United States and the UK have higher transaction charges, due to a less competitive exchange rate offered by First Direct Bank. More: First Direct Bank GBP vs USD money transfer
As of now, there are no physical branch locations for First Direct Bank, as they operate solely online and over the phone. This allows them to offer convenient banking services to customers without the need for traditional branches.
First Direct doesn’t have any brick-and-mortar banking branches. With the surge of online banking services, banks (like First Direct) without physical locations are becoming more and more popular as a hassle-free and easy option compared to traditional banks.
You can find answers to everyday banking questions by visiting the First Direct Bank website. If you can’t find the answer you’re looking for, you can call them from outside the UK on +44 113 234 5678
Still have questions?
Doing some research and evaluating options will ultimately save you time and money: Compare money transfer providers