A&L eSaver - Issue 1 (6.50%) vs Issue 2 (6.60%)

Bisoy

Bisoy wrote: »

This is a very interesting topic which I've never thought about closely. My wife and I do have a joint current accounts with A/L. I've got an esaver issue 1 but has since move bulk or our savings to KE. I've just realised that my wife could open the esaver issue 2 and move back our savings from KE to our current account then to her esaver account.

Now my cunning plan is ( now peeps tell me if it's legal but I could not see anything on their T&C ) if we need to take money out which we always do on 1st of the month, move the rest to my esaver issue 1 thereby still earning interest at the end of the month. Do you think this will work?

No reply yet so I guess it's going to work, right?;)

The_Fiddler_2

oldfella wrote: »

You don't need DD for A&L accounts, but yes I would move it via my linked A&L current account.

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to clarify this - following comes from the A&L user guide - the implication is you cant use a savings account as the linked account

Does my nominated current account have to be held with Alliance & Leicester?
No. An eSaver can be linked to any current account, either one with Alliance & Leicester or one held at another bank or building society.

You have to use a current account, hence why I said my linked A&L CURRENT account. Move it into the current account and straight back out again, that is the beauty of it being with the one bank.

Swipe

Created an esaver issue2 last night, phoned up today and had my esaver1 balance transferred. Lost 2 days interest but it saved messing around when my bonus on the esaver1 runs out.

srichards

Ive just opened one of these accounts (grr didnt see the quidco c/b in time though) - my question is does it show in your credit file and if so - is it helpful in re building credit?