Alliance & Leicester Recommend a Friend is a SCAM

R.Sole wrote:

You may now withdraw all the funds or leave it in to earn 5% interest.

Don't forget that you can't leave the account 'dormant'. If you withdraw all your funds, and/or stop crediting the account with the minimum £500/month, you will have to formally close the account.

If you don't they'll apply the £5/month 'penalty', which will (possibly) take you overdrawn and you'll incur further penalties.

Read the T&C's.

birch wrote:

i am still really new at this and have not looked at switching current accounts .We thought to get the free money we would open one for me and one for my husband and just transfer in and out the £500 on the same day each month for a few months ands then not use the account .how long does it have to be open for?Is there a penalty to close it?as we would not actually switch current accounts.
does anyone think this would work?

Hi
I opened an A&L Premier Direct account and am doing exactly what you intend to do. I electronically transfer £500 per month once my salary goes into my other bank account. I also did not want to switch current accounts. Strange thing is A&L paid me the £50 even before the first £500 went in. Also, I was referred by a 'friend' from this site and got £40 from her. Finally, I'm getting £50 from Quidco by initiating the new account through their site.
I'll probaby keep the A&L account for a while cos it seems like a good way to save.

YorkshireBoy wrote:

you will have to formally close the account.

What's the easiest way to formally close the account? I assume it must be put in writing to them

grumbler wrote:

Terms & conditions : I think you can also do this in a branch.

P.S. Sory, YB. If I saw your post I wouldn't spoil your 'educational' advice :beer:

I've done just that after I was promised £250 for transferring our joint account. I rang twice and was fobbed off twice. The first saying that the money would be there in a week or so and the the last saying that someone would phone in a few days. Needless to say I received no phone call. If the account takes 3 months to fully set up and I can't receive a phone call from them when I've made a complaint then I'm hardly going to bank with them.