A&L account

adm_4 · 10 March 2006 at 9:07AM

I've just opened an A&C (the online passwords not through yet though) with the 10% months saver. But so far I've received no details of the monthly save account. Will all this be clear online? Do you set up a standing order from the current account to the regular saver?

Thanks

a&akay · 10 March 2006 at 6:30PM

If it is like mine, you should have been asked on the screen when you first applied that you wanted to set up a standing order (SO) to a regular saver and, if so, the amount and the day of the month you wanted it to come out of your current account (based on your knowledge of when you would be paying in your £500 min). It is therefore an automatic SO based on this info you have given. You will find that, when you look at your SOs on your A&L current account once you can log in that this SO to your regular saver does not appear and cannot be amended. However it should be taken from your current account on the day and at the amount you asked for.

EmmaLou_3 · 10 March 2006 at 6:38PM

You can't rely on them to have actually set the account up - give them a call to double check!

We applied for this account online - first we didn't get sent the contract to sign, so I phoned and they said they had sent it already, but would resend. Eventually received the contract, signed it and sent it back within the time limit. Didn't hear anything from them. Phoned them today and they said they haven't received the contract back from us so they have cancelled the account and we will have to reapply for it!

I think it was last year or the year before that exactly the same happened to us when we applied for an account with them. Infact last time they also sent me a sheet of paper that had someone elses business accounts details including their credit card numbers etc! How bad is that? I didn't bother reapplying that time, but I hoped that by now their service would have improved. No such luck!

Has anyone else had these problems?

adm_4 · 10 March 2006 at 8:01PM

thanks,
I (wife) did enter the day of the month for the regular saver on the form but as yet there is no money in the account. We'll maybe give them a ring since we also need an R85 for gross interest...

YorkshireBoy · 10 March 2006 at 8:26PM

adm wrote:

I've just opened an A&C (the online passwords not through yet though) with the 10% months saver. But so far I've received no details of the monthly save account. Will all this be clear online? Do you set up a standing order from the current account to the regular saver?

Thanks

You'll receive a letter specifically about the regular saver - mine came on day 14.

It'll detail the account number, monthly amount, and the date it will be debited to your current account.

It closes by telling you what happens on maturity.

a&akay · 10 March 2006 at 8:37PM

I think you will find that they will take out the amount you stipulated the same month that your first payment into your current account appears -whenever that is. Too late now, but I always send the R85 off with the paperwork my wife signs confirming any agreement where tax is concerned. She is also non taxpayer and all interest bearing accounts are in her name. Put R85 into Google and the IR form usually comes up at the top of the list. Leave the account number blank and ask them to fill it in once the account is opened. I was also allowed with A&L to operate my own sole current account on her sole current account login. I suspect this is not really allowed but it makes it much easier to stooze as my own £1000 overdraft for 1 year at 0% was paid straight into her 5% tax free current account. This will be paid back just before the aniversary.

YorkshireBoy · 10 March 2006 at 9:16PM

a&akay wrote:

I think you will find that they will take out the amount you stipulated the same month that your first payment into your current account appears -whenever that is.

My letter (referred to above) states "The first payment date may have moved back by a month if your selected date fell within 30 days of the application", which is to allow you time to get your first deposit made.

In my case, the date of my first regular saver SO is a full 7 weeks from the date of application, and 5 weeks after my first deposit.

adm_4 · 11 March 2006 at 7:15PM

Thanks all,
As mentioned above my wife did get a letter specifically about the regular saver today. The first £250 will be taken in 4 weeks time so I've plenty of time to credit the account. It also said it could be added to my internet account (viewing only I guess). Also got the user number for the internet login today but still no password.

Thanks

Dan29 · 11 March 2006 at 10:19PM

Yep just put it into your A&L savings account or ISA to get 5.15%

sashacat · 11 March 2006 at 10:21PM

of course you can take it out and do whatever you want with it..including putting it in a high interest savings account...in fact now you mention it that's what I am going to do with mine as, like you I haven't used it..it will be just like stoozing!...go on move it and make some money from them

sashacat · 11 March 2006 at 10:27PM

thanks, adm, I have now moved my free overdraft to a high interest savings account

A&L account

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