Question:

Is it OK to use First Direct bank for day to day current account?
Their £10 a month charge is waived if we pay regularly £1500 monthly. But there is no money earned as interest of rewards.
My salary will be credited into this account regularly anyway so £10 will not be charged.
Jazakallahu khair

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

The Answer:

It is permissible to open a non-interest bearing current account with First Direct Bank.  The £10 monthly fee paid by the customer to the bank is not considered to be interest.  It is permissible for a bank to charge a service fee for the services it provides.

And Allah Ta’ālā Alone Knows Best

Mufti Faraz Adam,
www.darulfiqh.com
 
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