Alliance & Leicester Switching Solution!

MSE_Martin · 22 March 2005 at 1:20AM

As you'll know in the Best Current Account Article Alliance & Leicester's Premier Plus account is the top payer.

The Problem

I've received a number of e-mails from people saying 'the service on switching is awful'.

The Solution

I've lobbied A&L, told it this isn't good enough, and unless it makes sure people's problems are sorted properly I will have to put a 'good rate but abysmal service rating' on the account.

In response it says "we put in a new system towards the end of last
year and had some teething problems but they are now much better."

Better still it believes this so firmly, it has kindly agreed to my request to have a special e-mail service just for MoneySavers with switching problems. This way it assures me the few remaining people with problems will be sorted out as a priority.

The e-mail address: bootle.premieraccounts@alliance-leicester.co.uk

Please let me know how it goes for you if you use it.

Should this put you off switching to A&L?

To be honest no. A&L is rate-tastic, for many people its gone smoothly, and sticking with an apathetic old provider really isn't a good move. In fact the above helps rather than hinders, there can be switching glitches with all banks, at least this way theres a direct route to speedier switching.

WARNING. This is strictly only for A&L current account switching problems

This is only to be used for complaints about problems switching current account to A&L. it is not for any other A&L issues. Anyone using this e-mail for any other issues won't be answered.

This is a very special service for MoneySavers, and a result of long running negotiations, please don't ruin it by letting it be a 'all and sundry' A&L problems line - it would hurt the ability for me to help people get redress on specific issues in the future. If you have a general A&L issue, please use its normal channels

Martin

simonkirkland · 22 March 2005 at 11:41AM

Thanks Martin,

You have some great negotiating power. :-)

A+L have been very good with me and sorted out all my problems. Their current account is fantastic and I now get £'s interest a month instead of p's...

Thanks

Simon

ED · 22 March 2005 at 12:13PM

£8.95 monthly interest on £2,500 maximum balance allowed @ 5.37% gross (for accounts opened pre Dec 2004), net of 20% tax.

compared with...

£0.17 (yes, 17 pence) if instead £2,500 sits in First Direct's 'Cheque Account', or £3.30 in their 'Bank Account'.

Well done, Alliance + Leicester!

Paul_Varjak · 22 March 2005 at 1:15PM

Was thinking of switching to A&L but now you have made me re-think, Martin!

I suppose if the service is good after teething problems are sorted out, it will be worthwhile. The higher interest rate is only guaranteed until 31/12/2005, after that it will revert to 1% below Base Rate, which is still very good.

My other worry was that there is no A&L where I live. But then I learnt that you can pay in cash and cheques at any Post Office, which actually makes it more convenient than many other banks/building societies. For anything else, just do telephone or internet banking.

If they do make mistakes I will just pressure them for compensation!

lazy_worker · 22 March 2005 at 1:26PM

When switching to A+L Premier Plus, would doing so as a joint account simply to take advantage of the included travel insurance for a partner be a reasonable enough reason to get financially linked again.
Their terms as i read them said i would become financially linked with my partner anyway even as an individual account ! Which Martin's book says is to be avoided
I really am confused on these T&C's
Can anyone throw some light on this for me
Thanks
Lazy Worker

lipidicman · 22 March 2005 at 2:58PM

Why dont you want to be financially linked to your partner - separation worries?

lazy_worker · 22 March 2005 at 3:31PM

No not for that reason, its more of a credit worthyness thing, and the fact that their T&C's say they will financially link the applicant with a partner and other members living in the same house and this linking will appear on all future credit searches for whatever reason.
So the "poor credit history" members of the house would then be linked to the "good credit history" person.
This would seem a bad move ? I've re-read Martin's book, and he says this third party linking should not be happening..?

Lazy worker

simonkirkland · 22 March 2005 at 3:47PM

If one of you has a poor 'credit record' and the other is good, I'd suggest not joining yourselves together especially for the sake of some travel insurance.

If I were you I would get a single A+L Account and (assuming you are the one with the good credit) you open and egg card and get the travel insurance with them for £15 (household annual with winter sports) which will cover everyone in the household without joing them finacially... (You can also get £10 back from egg by registering with moneymanger so you could have travel insurance for a fiver??)

Simon

lazy_worker · 22 March 2005 at 4:40PM

I still cant resolve in my mind after reading the A+L declaration https://www.applications.alliance-leicester.co.uk/smartapps/index.asp?lookfeel=currentaccounts&prepopapptype=premplus&tunnel=yes why i must be linked to everbody in my house...
Just been on A+L site, they're giving £50 to new applications, wasnt it £20 previously?
Maybe i should forget the linking and take the money !
Lazy worker

financial_filly · 23 March 2005 at 4:48PM

Just wanted to let you know about our experince of A&L. We went into our A&L branch in Nov 04 to switch from the Halifax and after completing all the forms etc went away very happy and pleased that we were getting a good current account. All we had to do was wait for the switching form with all our DD's on them to pop thorugh the door and finally we could get away from halifax.

To cut a long story short and after several irrate phone calls my other half told them to forget it - this was in Jan 05. They had "lost" our forms several times which we had filled in & returned asap every time. On another occasion the computer went down and they couldnt help us and we had to ring back so enough was enough.

I hope they have got better as they couldnt have got any worse!! And we are still with the Halifax as o.t doesnt want the hassle of switching accounts again despite me telling him we should look around for a better current account. (so thanks to a&l i will have to use all my persausive powers to get him to consider switching

)

ED · 23 March 2005 at 5:34PM

Oh dear, in the Savings section of this forum I mentioned Online Saver of A+L specifically for you (as it pays 5.35%) - and now I discover you + partner have tried the bank.

Our family, too, had difficulties with A+L in late-04, however their service seems much better now.

Alliance & Leicester Switching Solution!

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