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a&l new prem direct 6.1

shazkhan111
shazkhan111 Posts: 621 Forumite
Part of the Furniture 100 Posts Name Dropper
in Savings & investments
I have a 5% prem direct a/c with a&l, i wonder if anyone has tried to call or go into a branch and say they are going to close their a/c unless they are offered the 6.1% a/c (rate)..........just a though ?/
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Comments

  • Milarky
    Milarky Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    They won't budge I would guess. A&L are now following a strict policy of divide and rule over different accounts. Everyone gets the terms and conditions specific to that date. So if they come along with a 'new' account its closes off the terms on the old ones.

    But good luck anyway. Let us know what happpens

    (Actually you might have point there! You'd be asking for a better promotional rate than the one you are on - not a new account. However my guess is that they won't budge - you are still on a 'promotional' rate at 5% after all)
    .....under construction.... COVID is a [discontinued] scam
  • Sillychuckie
    Sillychuckie Posts: 1,210 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Its something ill be mentioning at my financial review whilst they try to sell me things...
    In fact, i'll use it as my excuse to not buy...
    "but you are bound to come up with something better in a few months. look at my current account".
    I'll see what they offer.
  • notungrateful
    notungrateful Posts: 3 Newbie
    Having opened my account (5%) under 3 weeks ago, I phoned them yesterday to ask about this.
    They wouldn't budge.

    They said I could cancel my new account and reapply for the 6% current account, but I wouldn't get the Premier Savings Account (was 10%, now 12%).
    I could wait 3 months after cancelling and then reapply, but I'm not sure I want to risk the offer not being available then and the loss of interest for 3 months in gain of an extra 2%.
  • masonic
    masonic Posts: 27,671 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    notungrateful wrote:
    Having opened my account (5%) under 3 weeks ago, I phoned them yesterday to ask about this.
    They wouldn't budge.

    They said I could cancel my new account and reapply for the 6% current account, but I wouldn't get the Premier Savings Account (was 10%, now 12%).
    I could wait 3 months after cancelling and then reapply, but I'm not sure I want to risk the offer not being available then and the loss of interest for 3 months in gain of an extra 2%.
    I'm sure there will be plenty of people with the 6.1% account (or indeed the 12% regular saver) who envy your position. Given the choice, I'd rather have access to both accounts even if the rate is slightly lower.
  • humfer
    humfer Posts: 1,779 Forumite
    masonic wrote:
    I'm sure there will be plenty of people with the 6.1% account (or indeed the 12% regular saver) who envy your position. Given the choice, I'd rather have access to both accounts even if the rate is slightly lower.

    Agree 5% C/A and 10% regular saver is still a great deal.
  • shazkhan111
    shazkhan111 Posts: 621 Forumite
    Part of the Furniture 100 Posts Name Dropper
    "Agree 5% C/A and 10% regular saver is still a great deal."

    yes this is a better deal than the current, but if you could keep the 10% a/c and get the current upgraded to 6.1% that would be quality
  • Jake'sGran
    Jake'sGran Posts: 3,269 Forumite
    I have just applied for the new account paying 6.1% but I only intended to use it as a savings account. I don't want to close my old current account. Will A & L let me do this? Got a horrible feeling I will have to cancel.
  • masonic
    masonic Posts: 27,671 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Jake'sGran wrote:
    I don't want to close my old current account. Will A & L let me do this?
    They don't even have to know about your old current account. There is not even any need to transfer any direct debits etc.
  • humfer
    humfer Posts: 1,779 Forumite
    Jake'sGran wrote:
    I have just applied for the new account paying 6.1% but I only intended to use it as a savings account. I don't want to close my old current account. Will A & L let me do this? Got a horrible feeling I will have to cancel.

    Don't think they will allow you to have 2 current accounts - however could be wrong - let us know what they say
  • Barter
    Barter Posts: 593 Forumite
    Part of the Furniture 500 Posts
    Hi Jake'sGran,

    We have more than 2 current accounts & it was not an issue when we opened our A&L one, so there shouldn't be a problem for you, as long as you fund the account as per requirements.

    HTH.
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