Major bank with 1.5million customers axes key service TODAY after 25 years
Discover the free perks could you could get by switching accounts
A MAJOR bank with 1.5million customers is set to scrap one of its banking services today after 25 years.
First Direct, a subsidiary of HSBC, is scrapping its text message banking service, which provides customers with on-the-go alerts.
Getting rid of the service means thousands of customers will no longer be able to receive text notifications about their current account balance.
From today (10 August 2024) customers will also stop receiving “mini-statements” via SMS, which included a balance and their five most recent transactions.
First Direct, which operates without any physical branches, is asking customers to use its online and telephone banking services instead.
A spokesperson for First Direct said: “We are removing text message banking services from August 10 for our customers that are registered for online or mobile banking.
“This service remains in place for those who aren’t.
“There are lots of other ways for customers to access information about their account.
“Push notifications are now available to all customers through mobile and online banking, providing detailed and up-to-date information about their balance and transactions in real-time.”
First Direct first launched in 1989 as a telephone-only bank and has provided a text message service for the past 25 years.
Other ways to bank with First Direct
First Direct customers can access their accounts on-the-go by downloading the bank’s app, but you must have a smartphone to do this.
The app available on both the Apple Store and Google Play Store.
Here customers can send payments and transfers, check their balance, view PINs and manage their cards.
You can also get full access to your spending insights as well as all associated digital bank statements.
Customers can also set up push notifications to alert them of their balance and live payments.
You can also manage your account and see all statements by setting up an online banking profile by visiting www.firstdirect.com.
If you prefer to telephone, you can still phone First Direct to get help.
Existing customers should call 0345 6100 100.
We recently revealed how many banking customers are being pushed to use expensive smartphones in order to access their basic banking.
Who still offers text services?
Only a handful of other banks still offer text messaging services, which include mini statements showing your last five transactions.
Nationwide includes this as an optional extra for customers.
As standard, you’ll also get text messages when:
- The bank suspects you’ve been a victim of fraud.
- You have entered, or are about to enter, your arranged overdraft
- You’ve entered an unarranged overdraft and need to credit your account
- There isn’t enough money in your account to make a payment.
You can sign up for SMS messages containing mini statements by visiting the “Text Alerts” section on the banks app or online.
Royal Bank of Scotland customers who’ve set up “On Demand Balance” alerts in their alert preferences can also request mini statements over SMS.
Customers can text the word BAL to 83727 and RBS will send you your up-to-date account balance.
The text will also include a mini statement covering up to the last six transactions on your account.
If you have turned on the “On Demand Balance” alert for more then one account, you’ll need to include either the last three digits of the account number or last four digits of the debit or cash card number in your text.
For example, if your account number is 12345678 and your debit or cash card number is 1111 2222 3333 4444, then you could text either BAL 678 or BAL 4444.
If this service is a deal-breaker then it could be worth switching banks ahead of First Direct scrapping the service.
How do I switch bank accounts?
SWITCHING bank accounts is a simple process and can usually be done through the Current Account Switch Service (CASS).
Dozens of high street banks and building societies are signed up – there’s a full list on CASS’ website.
Under the switching service, swapping banks should take seven working days.
You don’t have to remember to move direct debits across when moving, as this is done for you.
All you have to do is apply for the new account you want, and the new bank will tell your existing one you’re moving.
There are a few things you can do before switching though, including choosing your switch date and transferring any old bank statements to your new account.
You should get in touch with your existing bank for any old statements.
When switching current accounts, consider what other perks might come with joining a specific bank or building society.
Some banks offer 0% overdrafts up to a certain limit, and others might offer better rates on savings accounts.
And some banks offer free travel or mobile phone insurance with their current accounts – but these accounts might come with a monthly fee.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
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