- Customers will no longer receive text messages showing their current account balance.
- Banks say there are “many other ways” users can stay up to date
First Direct is removing its text message banking service, it told account holders in an email seen by This is Money.
The bank, which has never had branches, said its texting service will end on August 10, meaning First Direct customers will have to use its app or online service to check their balances.
First Direct launched in 1989 as a telephone-only bank and has provided a text messaging service for 25 years.
The changes mean that monthly and weekly mini-bank statements will no longer be sent to those who have opted for the service.
Online: To check their balance, customers will need to go online, to their app or call the bank.
The existing service allows customers to view their statement each week along with five recent transactions without needing to log into their online banking account.
Currently, First Direct also offers account balance alerts when your balance falls below a certain amount or exceeds a certain amount, as well as alerts when lump sums are withdrawn from or deposited into an account. These will also stop.
The bank said: “Today, you can get much more detailed and up-to-date information by simply logging into our app and online banking.”
‘There are many other ways to stay up to date. Our app gives you 24/7 access to your balance(s) and statements and also has push notification alerts to let you know when payments come in and out of your account.’
According to the bank, you will continue to use automated text messages for a few reasons, such as if you become overdrawn on your account or if the Bank of England base rate changes and you have a mortgage account.
First Direct, although it does not have branches, has a smartphone app as well as online banking services.
The bank also has a telephone banking service that can be accessed by calling a designated telephone line.
However, the change could prove problematic for those without access to the internet or a smartphone, forcing them to call the bank to see their statement rather than receive a weekly update, especially at a time when they rarely paper statements are sent.
Some banks, such as Nationwide and Royal Bank of Scotland, still offer text message updates for mini statements and balances.
Others, such as Lloyds, offer text message updates only for overdraft warnings and in situations such as when fraud is expected.
First Direct customers can use HSBC branches to pay or withdraw cash, but only over the counter, or they can use Post Office branches.
First Direct was asked for comment, including how many people are signed up to receive text alerts, and at the time of publication, did not respond.
