legals

1. e-Savings Account
The following Terms, together with the first direct Account Terms and Conditions (where applicable), are the contract between you and us in connection with your e-Savings Account.

1.1 The e-Savings Account is designed to be serviced online. Balances and statements will only be made available online and we recommend that you print off and keep or electronically save all electronic statements.

All transactions are to be conducted online. If you want to contact us you must do so online, instructions cannot be taken at the telephone for this account.

1.2 You must maintain a minimum balance of £1, or such other minimum amount as we may set from time to time, on your e-Savings Account.

1.3 Customers are limited to one e-Savings Account each.

1.4 An e-Savings Account can only be opened in a sole name, jointly held accounts are not permitted.

1.5 We will pay interest at the appropriate e-Savings Account rate on credit balances. If during any calendar month, you do not close your account and you do not make any withdrawals from your account, we will pay interest at the appropriate rate.

The rate of interest currently payable on the e-Savings Account is shown in our current Interest Rates and Charges leaflet which is available on request or visit our website at firstdirect.com (see part 1, Section 8.3 of the first direct Account Terms and Conditions for interest rate variations).

Calendar months start on the first day of each month.

1.6 If during any calendar month, you close your account or you make any withdrawals from your account, no interest will be payable.

We will calculate interest on a daily basis on cleared end of day balances and we will pay it to your e-Savings Account or nominated first direct account monthly or on closure.

1.7 If there is, at any time, a debit balance on your account, we will be entitled to in accordance with the first direct Account Terms and Conditions Part 2 - Clause 6.2 and to close your account in accordance with Part 1, Clause 13.

1.8 Your e-Savings Account will not qualify as a "Combined Account" for the purposes of any offset Mortgage that you may have with us.

1.9 We will normally pay interest after deduction of tax at the applicable rate (see clause 8.6 of the first direct Account Terms and Conditions regarding credit interest).

1.10 If your e-Savings Account is closed, you cannot open another one at any time within three months from the date of closure of your previous e-Savings Account.

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