£100 for joining Alliance + Leicester

djuluvme

I had loads of DD's on my account that had been inactive for years, so choose not to transfere them, so I assume they will vanish when my old account is closed. I don't think it will affect the £100 because you are still switching some direct debits.

mintedmatty

Im in the process of switching, im going to keep my other account open, just in case. I do have a query tho on a seperate issue? The O/D they have offered me is interest free for 12 months? at the same time they opened a plussaver i think? is there anything stopping me just transferring a wad of my overdraft into the savings account and gain some interest?

JimmyTheWig

aimex wrote: »

was a little concerned that that would mean i wouldnt still qualify for the £100 as wondered if you have to switch all DD's, which effectively i am doing as i no longer use all of them.

Only A&L can answer this, but I think you'll be fine.
If you are honest switching your main bank account to them, transfering your direct debits and changing your salary I don't think they'll have a problem with paying out.
I think the people who they will try to avoid paying out will be those trying to "trick" the system by transferring a dormant account. They're the ones who will have to be careful about folloiwng the T&Cs to the letter.

JimmyTheWig

mintedmatty wrote: »

The O/D they have offered me is interest free for 12 months? at the same time they opened a plussaver i think? is there anything stopping me just transferring a wad of my overdraft into the savings account and gain some interest?

Nothing wrong with this whatsoever. It's a great idea.
It's a form of stoozing (which is normally done with 0% credit card deals).

Is the interest rate on the plussaver any good? You may be better off putting the money into a different savings account and earn even more money.

mintedmatty

Im sure its about 5% tbh? i think i get 0.75% bonus for 12 months,dont know if thats included or on top of though! im trying to be a bit more savvy with my money now, new job, debt free, well almost.....I owe the bank of mum and dad £1200 but Ive taken on a second job to pay them off before xmas!!! I hate owing people money!!!

thanks for the advice!!!!

A further question? what does the interest drop down to after 12 months???

purplestar133

I've got a graduate account with lloyds tsb which is going to change into a 'classic' account on Oct 6th. I've been trying to stay in credit as I thought my interest free overdraft might be coming to an end soon. I'm in credit, but will prob have to go overdrawn before I get paid again.

I want to switch to A&L, I'm just confused about how to time it. I don't think I'm going to be able to get £500 together to pay in to the A&L account without paying my wages into it, or taking it out of my ISA or staying with the 'classic' account for a month or so and letting a bit of money gather in that.

I was thinking of waiting til Oct and then applying with A&L and contacting my employer myself to tell them to change the account they pay into. Does anyone know what time of the month it is best to make those changes? And so, the best time of month to apply? Do I have to contact my employer in the first week of the month, for instance, or else they'll pay it into my old account?

I'm really confused!

Also,:rolleyes: , do you get a visa debit card with this account or maestro/switch? I don't know the difference, but I do know I'd prefer a visa debit card as you have (a little) more protection on your payments if the company you pay goes bust...(i think).

ragz_2

I switched to A&L from Natwest, for the good overdraft rate as well as the £100
However, after sending them proof of my current OD limit as requested, they have written back with a load more conditions which I have to meet in order to get it. None of which had been mentioned before

-Send a full 30 day original bank statement for the current month from your previous account provider. Luckily I anticipated similar trouble and switched from paperless statements back to paper ones just before I switched.
- If the statement does not quote your OD limit (it does not), we also ask for a letter from your bank confirming your current limit (this is the bit of paper I sent them last week in order to get the OD in the first place)
- Your statement must show you have been in credit for 15 days out of the month and not exceeded your OD limit ( well as my incoming money was switched to A&L before the outgoings where all switched, I was actually overdrawn quite a lot more often than I would otherwise have been.
- Your statement must show you have paid at least £500 a month in to your account and made at least 3 payments. (Well this would be ok for the last few months but for THIS month, as I said above, my incomings where switched to A&L)


So basically I am very cross with them and will call then first thing on monday to tell them so.
I was just wondering if anyone else had had the same trouble?

ragz_2

purplestar133 wrote: »

Also,:rolleyes: , do you get a visa debit card with this account or maestro/switch? I don't know the difference, but I do know I'd prefer a visa debit card as you have (a little) more protection on your payments if the company you pay goes bust...(i think).

You get a visa debit card. Or at least, we did so I assume you will too.

YorkshireBoy

I have an existing A&L account (less than 12 months old) and I've just switched a few SO's to them to get them to match a £10K overdraft held elsewhere (intend to stooz this ). My experience differs...

ragz wrote: »

-Send a full 30 day original bank statement for the current month from your previous account provider. Luckily I anticipated similar trouble and switched from paperless statements back to paper ones just before I switched.

I was told it didn't have to be an original statement. As long as your bank's website url was on the bottom of the printout it was quite acceptable to send one of those. Furthermore, any statement would do from the previous 3 months.

- If the statement does not quote your OD limit (it does not), we also ask for a letter from your bank confirming your current limit (this is the bit of paper I sent them last week in order to get the OD in the first place)

Doesn't need to be a 'letter'. It can be a screenshot of your summary screen or a 'recent transactions' list, again as long as it shows the website url on the bottom of the printout.

- Your statement must show you have been in credit for 15 days out of the month and not exceeded your OD limit ( well as my incoming money was switched to A&L before the outgoings where all switched, I was actually overdrawn quite a lot more often than I would otherwise have been.

I was told verbally it was 3 days.

- Your statement must show you have paid at least £500 a month in to your account and made at least 3 payments. (Well this would be ok for the last few months but for THIS month, as I said above, my incomings where switched to A&L)

I was informed (verbally) of the "3 payments" clause, but no mention was made of regular credits, nor the size of them.


I'm not sure if my experience differs because I was an existing customer, but maybe you can use it in your dealings with them on Monday?

Good luck.

formulaonefan

There are lots of messages to go through so I thought I will ask my question even though they might have been answered before.

1. If I go through quidco.com am I eligible or £50 quidco + £100 from A&L?
2. If I have only one direct debit setup in my bank account will that be enough when I use A&L transfer service? Can I setup couple of standing orders and will that be any good?
3. When will they credit my account with £100/-?
4. Overdraft limit is set by A&L or is it based on what we have with our existing account?
5. Is having a overdraft and using it recorded in our credit file? I haven't seen having a overdraft recorded anywhere in my credit file but could someone clarify this for me please?

Also I have seen somewhere in MSE things that are not in credit file (i.e. student loans, car insurance etc). Can someone provide me with a link?