First Direct operates as HSBC UK Bank plc, authorised and regulated by the FCA/PRA under Firm Reference Number 765112. This review covers its first direct personal loan and car loan range, its position under the Financial Services Compensation Scheme, eligibility, and the customers it tends to suit, using verified information only.
Understanding First Direct
The current range covers first direct personal loan (gbp 1000 to gbp 50000), car loan, home improvement loan, debt consolidation loan. These are the products a new customer would actually encounter, and each carries its own terms around access, notice periods and eligibility that are worth reading before any money moves.
How the savings works in practice
Savings products like these are funded by the customer depositing money, with returns paid as interest or, for Sharia-compliant providers, as an expected profit rate. Access depends on the account type: instant or easy access allows withdrawals on demand, while fixed-term and notice accounts trade flexibility for a higher headline rate.
Who should look closer
Regulation and protection
First Direct is covered by UK financial regulation through Firm Reference Number 765112, which can be checked on the FCA register. That reference is the single most reliable way to confirm a firm is genuine before any money changes hands.
FSCS deposit protection applies to eligible cash held with authorised deposit-takers; it does not extend to borrowing. The current position should be confirmed on the FSCS website for the specific product in question.
Guides for First Direct |
Compare First Direct against the market
Important information This article is for general information only and is not financial advice. Kaeltripton is not authorised by the Financial Conduct Authority and does not provide regulated advice or recommendations. Rates, products and eligibility change; always confirm details with the provider and the relevant regulator before acting. Kaeltripton is registered with the Information Commissioner's Office (ICO registration ZC135439). |
Regulator check
| FCA register number | 765112 (check on the FCA register) |
| Deposit protection | Eligible deposits with an authorised UK deposit taker are protected by the FSCS up to £120,000 per person per banking licence (limit raised from £85,000 on 1 December 2025). Brands sharing one licence share one limit. |
| Complaints | Complain to the firm first; after eight weeks or a final response, the Financial Ombudsman Service can review it free of charge. |
| Checked | 20 September 2026 |
Frequently asked questions
How do I apply for a loan?
Am I eligible for a loan?
Is First Direct FCA regulated?
Yes. The verified records show HSBC UK Bank plc (first direct is a division of HSBC UK Bank plc) authorised under Firm Reference Number 765112, which you can confirm on the FCA register.
Is my money with First Direct FSCS protected?
FSCS protection for First Direct could not be confirmed from the records reviewed. Check the FSCS website and the provider's terms for the specific account before depositing.
What does First Direct offer?
The verified range includes first direct personal loan (gbp 1000 to gbp 50000), car loan, home improvement loan. Always confirm current availability and terms on the official site.
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