Moving A&L issue 1 to issue 2

misskool

Hi,
I've left my money in the closed A&L online saver and it's now dropped to 4.75%. But the new issue 2 is 5.15%! (until 30 June 2006)

Has anyone moved their savings from issue 1 to issue 2? What would be the easiest way of doing it?

Or any other top paying accounts? I don't move the money very much, it's only £2k+ and I don't pay any tax because I'm a full time student.

Thanks!

charlieboycat

You can't move funds directlyfrom Issue 1 to Issue 2 - you have to withdraw from Issue 1 to your linked a/c, and then re-deposit into Issue 2. Unless your linked a/c is an A&L current a/c this will "cost" three days interest.

anticlaus105

If your linked acc is A+L you can transfer instantly. That is what I did. If you oen current account now I think you can get a 10% reg saver account that is only available to new current account customers.

ioscorpio

I transferred my Issue 1 to my Issue 2 via my nominated A&L current account, but I did leave £1 in Issue 1 to keep the account open, so that I can transfer it all back when the bonus rate drops in June.

lipidicman

iomexico wrote:

I transferred my Issue 1 to my Issue 2 via my nominated A&L current account, but I did leave £1 in Issue 1 to keep the account open, so that I can transfer it all back when the bonus rate drops in June.

This is good advice. This is exactly what I need to do. I'm not sure that I would have remembered to leave the old account open! However by then the old issue may have plummeted

I will sort this out once I have my new 10% account!

sp.coulton

Hi there, i currently have money in my halifax web saver account but how much better would i be by moving it to a&l issue 2 online account?

ioscorpio

It depends on what rate you give for the Halifax web saver account. The A&L Issue 2 account pays 5.15% until 30/6/06 then the rate drops by 0.90%