Alliance & leicester Premier Direct

ExBanker_2

Just applied for this. Looked at all the current accounts on offer and this is the one i liked best. Also a nice safe place to store money in these troubled times (when i get my ££££££ back from Icesave!).

Anyone else got one, how are they?

MPH80

Had mine for 3 years ... not had huge troubles with it ... you get deluged with paperwork by A&L when it opens ... customer services is ok in my experience.

Biggest problem really has been the lack of branch access - but even that's been got around (a big withdrawl - several thousand - was organised for a local postoffice in a 5 minute phone call and was waiting there for me 15 minutes later).

Had no problems - but am closing it now to switch to a single joint account with another provider.

M.

savingpennies

Same here. We've been with them 3 years and had no problems. Internet banking has been ok and easy to navigate. We have a branch in the centre of town which opens on Saturday but I particularly like the fact that I can use my debit card in any post office to get cash out. Customer services has been ok too.

apt

From a financial perspective the £100 cashback offer on the A&L premier account was better even before taking into account the free European insurance. The 8.5% interest rate is only worth £40-£50 because of the £2,500 and one year limits. Halifax High Interest Account is a better bet if you want a decent interest-rate and don't want the hassle of changing current accounts regularly.

ExBanker_2

If you have £2500 in the account for 12 months, that is actually £212.50 interest, or £170 after basic rate tax. Not £40-£50 :rotfl:

shaf00uk

£127.50 if you are higher rate tax payer so the monthly net interest should be around £10.62. Its not too bad.

Also note that the rate will plummet after 12 months....don't exactly what rate you will get but I'd guess that its 0.1%.:mad: If you don't mind switching bank every year then go for it! :cool:

Otherwise haggle with your current bank at the BRANCH where you opened the account. They may offer you another account without you changing everything.

ExBanker_2

It reverts to 1% below the base rate after 12 months, probably will evalate its value then.

moneymabel

Switched to them through quidco about 4 months ago and have had no problems at all.

apt

Ex-banker - to workout the net benefit for your 8.5% account you need to subtract the interest you would have gained by putting the £2,500 in another easy access account. As you can get 6-6.5% elsewhere the net advantage for basic-rate taxpayers is £40-£50. That's why the £100 cashback was the better deal.

ExBanker_2

Oh- i see what you mean now THe cash back deal is no longer available though, is it?

apt wrote: »

Ex-banker - to workout the net benefit for your 8.5% account you need to subtract the interest you would have gained by putting the £2,500 in another easy access account. As you can get 6-6.5% elsewhere the net advantage for basic-rate taxpayers is £40-£50. That's why the £100 cashback was the better deal.

FairyElephant_2

Good luck!

I still have mine open, as I have a ISA with them on a good rate and if I need the money quickly I can transfer online to the current account and draw it out - other than that I would have dropped them completely as their customer service, in my experience, has been dire.

For example - I've tried 5 times to get a change of name done since I got married 2 years ago....and it still isn't done yet, so I gave up.