£100 for joining Alliance + Leicester

maniac886

Just been accepted with an OD of £450. Can I ask, how easy is it to get them to match my HSBC overdraft of £1500?

Tristanod

they matched my natwest one of £5k, and my gf's Lloyds one of £1,300.

I'm just concerned that the beneficial O/D arrangements won't survive the sale of Alliance & Leicester to Santander.

Being around £4,500 O/D by the end of each month a real overdraft interest rate could be cripplingly expensive if they end up charging it!

maniac886

Tristanod wrote: »

they matched my natwest one of £5k, and my gf's Lloyds one of £1,300.

I'm just concerned that the beneficial O/D arrangements won't survive the sale of Alliance & Leicester to Santander.

Being around £4,500 O/D by the end of each month a real overdraft interest rate could be cripplingly expensive if they end up charging it!

What did you have to show them in order for them to match your existing OD?

Tristanod

A recent statement showing what the O/D limit was.

I also needed to have been in credit for at least 3 days in the previous month. Luckily I'd just got a £10k refund on a used car I'd taken back after a week (long story) and had a few days left before I needed to repay the loan without interest. I think those few days were the only time I've been in credit for a few years!

maniac886

Tristanod wrote: »

A recent statement showing what the O/D limit was.

I also needed to have been in credit for at least 3 days in the previous month. Luckily I'd just got a £10k refund on a used car I'd taken back after a week (long story) and had a few days left before I needed to repay the loan without interest. I think those few days were the only time I've been in credit for a few years!

Balls....looks as if I am gonna have to cancel...its my HSBC student account which is in the OD and is not in credit at the moment.

I am looking to transfer it over to A&L to give me a year to pay it off.

Tristanod

still worth checking with them first. might have changed since I applied.

maniac886

Tristanod wrote: »

still worth checking with them first. might have changed since I applied.

Just given them a ring, they said I need to meet all the criteria before they match...its annoying that this criteria isn't on their website!

Anyway I have cancelled. Think I am gonna stick with HSBC for the meanwhile.

Cheers

kissmeimposh

If in a particular month you make deposits but do not deposit the full 500 pounds, what is the penalty amount that you will be charged?

Anon

kissmeimposh wrote: »

If in a particular month you make deposits but do not deposit the full 500 pounds, what is the penalty amount that you will be charged?

£5 per month on the Premier Direct Current Account, nothing on the Premier Current Account. They don't always charge if this is the first time you have missed - and they send you a letter to confirm when they are going to start charging.

Anon

kissmeimposh

Thanks anon, is it 5 pounds for each month missed or if you miss do they start charging 5 pounds per month forever after?