£100 for joining Alliance + Leicester

vernall

as soon as we receive our £100 can we close the account?

JimmyTheWig

vernall wrote: »

as soon as we receive our £100 can we close the account?

I believe you can.
But as I have said previously, you get an interest-free, fee-free overdraft for 12 months. Why not put this money in a savings account and earn some interest on it?

halight

UNDERGROUND wrote: »

I have also just received my £100 incentive payment from A&L.

I also got £50 cashback through TopCashback.

I used A&L's switching service but switched my salary myself and have left my old account open.

The account was opened at the beginning of August (around 5th), TopCashback became payable 2nd Oct (received by BACS on 4th Oct), A&L incentive paid today (13th Oct).

I shall be closing the account after the interest free overdraft period, their customer service is terrible.

Regards
UNDERGROUND

Hi as A&L is now owned by someone else this may inprove as time goes on.
Ill be keeping my account open for a while after i get my £100 and see whats happens. Butr if it dose not then i will be closeing mine too

vernall

JimmyTheWig wrote: »

I believe you can.
But as I have said previously, you get an interest-free, fee-free overdraft for 12 months. Why not put this money in a savings account and earn some interest on it?

if they had of given me an overdraft i would lol

purplestar133

vernall wrote: »

if they had of given me an overdraft i would lol

They haven't given me an overdraft either but said if use the Premier Switching Service they 'can look to match the overdraft limit had with [my] old bank'. I got a letter saying the switching process was underway, but it didn't mention anything about an overdraft.

Did anyone else get an overdraft set up in this way? The overdraft is the only reason I'm opening the account!

Also, just to double check, if I pay in £200 and withdraw it and then pay in £300 and withdraw that, that's counts as paying in £500 a month to qualify for the £100- is that right? Do you need to leave it in a couple of days before withdrawing it?

jetfighter

I had to take a load of documents into an A&L branch to have my overdraft matched, though the criteria were quite strict. I was okay and they did match mine, but I can see why the criteria might be problematic for some.

You had to have a recent bank statement (printed out is ok, as long as it shows your full name, bank account details and the address or web address of the bank) and it has to show you in credit on at least three separate occasions. It also has to show a deposit of a minimum amount - possibly £500? Can't remember.

You also need to take in a letter from your bank confirming your overdraft limit.

A&L took photocopies of all of my documents and the overdraft was added to my account within a few days.

purplestar133

jetfighter wrote: »

I had to take a load of documents into an A&L branch to have my overdraft matched, though the criteria were quite strict. I was okay and they did match mine, but I can see why the criteria might be problematic for some.

You had to have a recent bank statement (printed out is ok, as long as it shows your full name, bank account details and the address or web address of the bank) and it has to show you in credit on at least three separate occasions. It also has to show a deposit of a minimum amount - possibly £500? Can't remember.

You also need to take in a letter from your bank confirming your overdraft limit.

A&L took photocopies of all of my documents and the overdraft was added to my account within a few days.

I think my prob may be that I'm not on the electoral role at this address (because it's not permanent and I keep expecting to move every year but haven't done yet), but I have had a current account with a large overdraft which has been registered to me at this address for three years...so surely that proves that I live here and have had credit whilst living here...?

vernall

i have an overdraft with my current bank,but this was not the account i switched as i want to keep my current bank account,i used an old halifax one and just set up a £1 dd into my current bank account from it to meet the switching criteria,so i have no overdraft on that old halifax one for them to match,i think i read,possibly on here,that they would review giving an overdraft after 4 months.....might hold off closing until then to see if i can get one then........what is the best way,in the banks opinion to grant someone an overdraft? should i leave these £500 deposits in there for the 4 months(£2000)till i can ask them for an overdraft?or should i be emptying it all bar a few quid each month?

Mrs_Ryan

About the 500 thing - I think its one calendar month as I have an account with them and changed jobs recently, I was paid from my old job on the 12th July and wasnt paid from my new job until August 28, and that was fine - I wasnt charged. I also checked this in branch and they said the same thing - as long as there is a 500 deposit in one month, that will be ok. And there's no minimum time it has to stay in either - for example, my wages go in at midnight, and I have a DD for £400 going out at the same time which usually takes me under the 500 mark, which again is fine-as long as the money goes in they dont really care how long it is in there for!!!

sammyjammy

I'm having a nightmare with this account and the switchover service.

I had a letter from them listing my SO and DDs and saying that if they are all correct and I want them all transferred to take no action, they would on 14 days from letter date take action to transfer them.

The 14 days was up last Friday and I need to get it sorted to know whether I need to transfer salary for this month or not. They still haven't actioned them and when I rang today the woman says well we leave it a little longer than 14 days in case you've gone on holiday or something - what is that about!!! I explained the need to know and she said I had to make the choice myself about the changeover of the salary and that I should have sent the paperwork back straightaway if I was in a hurry to have it done!

I'm now in the position that I have DDs due to come out on payday (31st) and I don't know which account they will come out of! I suggested to the woman that I would leave the salary in the old account but asked what would happen if the DDs were transferred to A&L in the intervening period, she suggested they would return them unpaid.

I've not requested an overdraft for this account but I thought the switchover meant they guaranteed that they would honour the Direct Debits during the switchover process, the woman proceeded to tell me this didn't apply because I chose to transfer my own salary over... can anyone advise me, I'm beginning to regret the whole thing but hopefully its short term pain for longterm gain!

Sam