£100 for joining Alliance + Leicester

YorkshireBoy

formulaonefan wrote: »

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?

1. Yes.
2. My opinion is it's better with at least 3, so set up a couple of small SO's (to savings accounts for example).
3. When they say they will in the offer T&C's on their website.
4. Initial O/D is set by their 'scoring' of your application. If you want a larger one, you'll have to ask them to consider matching your existing facility. Details on their website, and discussion on this thread earlier this afternoon (in fact, the post just before yours).
5. Yes, facility and use are both recorded.

purplestar133

How long is is taking for them (A&L) to open everyone's accounts?

purplestar133

purplestar133 wrote: »

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).

I'll phrase my question differently...

I am currently overdrawn by £100ish and my interest free overdraft ends on the 6th Oct. I have a standing order and two direct debits that come out of this account. Should I apply for the A&L account now and notify my employer that they should pay my wages at the end of the month into my A&L acct as soon as I hear from A&L or should I wait until after Oct 6th, when my wages should have paid my overdraft off, but will have no interest free overdraft.

I am concerned that my SO and DDs might still be coming out of my old account when I have transferred my salary to the new A&L account, and there will be no overdraft facility in the old acct to cover the payments. I could transfer some money from my ISA to the 'old' account (it will be old once i open the A&L one) but, obviously, I won't be able to pay that back into the ISA without affecting my subscription limit, so would rather not.

Phew. Does that make sense? I'd appreciate any helpful ideas!

Does that make sense?

System

Just found these 'customer reviews' on A&Ls website and was quite amused:

http://www.alliance-leicester.co.uk/reviews/customerreviews.aspx

As you get further through the pages the worse it gets!

I'm amazed they'd publish these of their own website!

UNDERGROUND

JimmyTheWig

purplestar133 wrote: »

Should I apply for the A&L account now and notify my employer that they should pay my wages at the end of the month into my A&L acct as soon as I hear from A&L or should I wait until after Oct 6th, when my wages should have paid my overdraft off, but will have no interest free overdraft.

Still don't quite follow your questions, but I think the answer is as follows...

You get an interest free overdraft for a year with A&L. You can use this to help with the switching process.
I.e. don't switch your salary until your payments are coming out of the A&L account. Payments coming from A&L can be paid from the overdraft; payments coming from your old account can be paid from your salary. Then just transfer (using online banking is easiest) the money from your old account to the A&L account to cover any payments made and return the balance there to zero.
Then when it's all coming out of A&L transfer your salary.

malkbk

Has anyone opened an Alliance and Leicester account (as I did yesterday) through Topcashback site?Did you get the £100 and the £50?

purplestar133

JimmyTheWig wrote: »

Still don't quite follow your questions, but I think the answer is as follows...

You get an interest free overdraft for a year with A&L. You can use this to help with the switching process.
I.e. don't switch your salary until your payments are coming out of the A&L account. Payments coming from A&L can be paid from the overdraft; payments coming from your old account can be paid from your salary. Then just transfer (using online banking is easiest) the money from your old account to the A&L account to cover any payments made and return the balance there to zero.
Then when it's all coming out of A&L transfer your salary.

Thank you! But how do you know how much they'll allow you as an overdraft? The terms and conditions say something like they'll decide how much...I suppose I'd have to ask them to match my current overdraft - it sounds as if, from looking at this thread, some people have had difficulty when doing that though.

purplestar133

malkbk wrote: »

Has anyone opened an Alliance and Leicester account (as I did yesterday) through Topcashback site?Did you get the £100 and the £50?

Not yet but planning to. Let us know if it tracks ok!

JimmyTheWig

purplestar133 wrote: »

Thank you! But how do you know how much they'll allow you as an overdraft? The terms and conditions say something like they'll decide how much...I suppose I'd have to ask them to match my current overdraft - it sounds as if, from looking at this thread, some people have had difficulty when doing that though.

You don't know. I think they'll credit score you. If the overdraft doesn't cover your monthly outgoings then you will need to be on the ball a little bit and watch for when each payment comes out of each account and transfer money accordingly.

Andy_Hamilton

I was given an overdraft of £1200. My current Barclays account has a £3K limit so I got in contact. If you send a covering letter to the new account department (which you already have to send stuff to) to say that you would like your overdraft reviewed. You have to include a bank statement from your old current account, this MUST BE IN CREDIT FOR 2 DAYS of the month.

About 3 days later I got a letter to say it had been increased and my orginal bank statement was returned.