Alliance + Leicester online saver to abbey

JamesBell

Hello people,

Following the good advice on this site I've decided to save £6000 by drip feeding £500 a month from Alliance & Leicester Easy Online Saver to Abbey's 7%. Unfortunately (and embarrassingly!) im having trouble setting up the standing order from A&L to the abbey account, the online banking site says that my account is not elligable for online standing order set up.

Could someone else who has taken advantage of this savings option give advice on the best way to set up the transfer? I was thinking sign up for an A&L regular account and set up a standing order from there, does this sound like a good idea?

Sorry if this sounds like a stupid question, this is the first time I've done any saving of my own.

Thanks,
James.

MarkyMarkD

I think you mean A&L "Online Saver" as Easy Saver is something different.

As people have posted on other threads, you need a current account (in most cases) to pay a standing order from.

If you don't already have a suitable current account, or want to consider switching, the A&L Premier Plus account is one of the highest paying at 5.5%. The rate is higher than Online Saver, unless I'm mistaken? But the maximum balance to get 5.5% is £2,500.

So you could open the Premier Plus account and keep £2,500 maximum in there and the remainder in Online Saver.

You can also transfer money "almost" instantly between the two. (It isn't exactly instant, but near enough if you have an overdraft limit available on the current account).

ohit

'route' the money through your current account?