Abbey £100 for switching

kanchhelskis

thanks for the reply.

Joannef_2

Can anyone tell me if this offer is still available. I thought the account had to be opened by the middle of December but I just looked on the Abbey website and it looks like it's still available.
Thanks.

bristolleedsfan

Joannef wrote: »

Can anyone tell me if this offer is still available. I thought the account had to be opened by the middle of December but I just looked on the Abbey website and it looks like it's still available.
Thanks.

If you click apply, Step 1 still offers 100.00 incentive option, u could call 0800 587 2758

bazwaldo

Just rang the 0800 number and my local branch and both say the offer has finished despite the website giving the option to open one.

Milarky

jlanky81 wrote: »

The Banking Code, to which all the major banks subscribe, states that, if you want to move your current account to another bank, your existing bank must supply details of standing orders and direct debits within three working days of receiving a request. Your existing account must be closed without unnecessary delay when you ask the bank to do so. You cannot be charged for either closing or switching a current account, except where charges have already been agreed.

Lloyds TSB therefore have to provide Abbey with the information about your Direct Debits / Standing Orders to adhere to the Banking Code.

But not about the overdraft with them - which you hope Abbey will match. I applied, was accepted and given a current account with £nil overdraft (O/D on LTSB account switched - but not closed - is £500)

Abbey didn't make clear that arranging an overdraft is a separate process from applying for their account See here Now click on:

Switch to an Abbey bank account and get £100
If you would rather receive a cash back reward, then you can benefit from a £100 cash back and a 12.9% EAR typical (variable) Advance Overdraft rate when you switch to us from another provider and make regular payments to the account. A Transfer Specialist will arrange the move of your salary and any regular payments from your old account. Switching is easy – fill in a simple form and our bank account transfer service will take care of the rest. Click here to find out more.

Which says...

Transfer your Bank Account to Abbey In three simple steps
1.Select the option to switch in the on-line bank account application
2.Let our Account Transfer team take care of the switching process
3.Receive updates on progress and next steps
Our dedicated Account Transfer team will make sure you enjoy a simple and straightforward move from your existing banking provider to Abbey
All you need to do is select the option to switch within the on-line application.

No mention there of going off to an Abbey branch with your Lloyd's statement in hand (just to ask for an overdraft) The implication is that it can all be arranged online.

Granted, Abbey also has a separate link to say something about overdrafts:

0% Overdraft account (12.9% EAR typical (variable))

• 0% Overdraft for 12 months. Legal Details
• We’ll match previous overdrafts up to £5,000.
  Conditions apply – find out more
• A dedicated Account Transfer Team to move all of your regular bill payments and Direct Debits, as well as helping you move your salary or pension credit
• Pay an Advance Overdraft rate of only 12.9% EAR typical (variable) after 12 months.

• More info

Apply now »

The 'Legal details' and 'Conditions apply - find out more' both link to this

6% AER and 0% overdraft offer

5.84% gross/ 6% AER (fixed) on balances up to £2,500 for 12 months (0.1% gross/ 0.1% AER (variable) paid on whole balance thereafter) 0% overdraft for 12 months (Typical 12.9% EAR (variable) thereafter). Customers must be over 18, switch using the Account Transfer Service and credit at least £1,000 monthly. Limited offer and may be withdrawn at anytime. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest is paid and added each year. The gross rate is the rate payable before income tax deduction. Interest is paid monthly. Rates correct as at 01/12/08.

The £5,000 matched overdraft depends on us checking your previous bank statements. The matched debit card and overdraft are not available if you have a county court judgement against you or you have had an account written off by us or another lender in the last six years.

Even reading this, it isn't clear that the overdraft application process is not on-line - simply the matching element requires "us checking your previous bank statements" which is non-specific as to on-line or via post or in-branch.

Furthermore, their own terms and conditions state:

3.2.1 You can contact us to discuss and request an overdraft, or an extension to an existing overdraft, (an “Advance Overdraft”), in each case up to a set limit, at any time by speaking to us at any of our branches or by telephoning us on 08459 724 724 or via our e-banking service on www.abbey.com. We may during that discussion ask you about your current financial circumstances and future credit needs. After reviewing your request, we may either: (i) agree to your request;
(ii) offer you a different Advance Overdraft than the amount you request; or
(iii) refuse your request.

(Note 'at any time') Yet I've now been told that they won't consider me for an overdraft for six months! ('consider' note) In other words there is fraudulent aspect to Abbey's behaviour on the matter of the overdraft, and the circumstances in which you can request.

sabretoothtigger

It would be a bit worrying if they setup direct debits with no overdraft, you could be hit for hundreds in charges straight away before any chance to fund it

I checked and they have given me a small overdraft but there is no automatic matching of the od on the account I had transferred from. I guess you could call that prudent

simon_templar_2

They can match your existing overdraft by ringing the underwriters who might need a copy of bank statement showing proof of overdraft limit. The £100 offer finished Dec 15th.

PBA

Milarky wrote: »

But not about the overdraft with them - which you hope Abbey will match. I applied, was accepted and given a current account with £nil overdraft (O/D on LTSB account switched - but not closed - is £500)

Abbey didn't make clear that arranging an overdraft is a separate process from applying for their account See here Now click on:

Which says...

No mention there of going off to an Abbey branch with your Lloyd's statement in hand (just to ask for an overdraft) The implication is that it can all be arranged online.

Granted, Abbey also has a separate link to say something about overdrafts:

The 'Legal details' and 'Conditions apply - find out more' both link to this

Even reading this, it isn't clear that the overdraft application process is not on-line - simply the matching element requires "us checking your previous bank statements" which is non-specific as to on-line or via post or in-branch.

Furthermore, their own terms and conditions state:

(Note 'at any time') Yet I've now been told that they won't consider me for an overdraft for six months! ('consider' note) In other words there is fraudulent aspect to Abbey's behaviour on the matter of the overdraft, and the circumstances in which you can request.

Abbey will match your overdraft limit on your current bank account. Obviously this can't be done online, as it requires you to post in your recent bank account statements.

Milarky

PBA wrote: »

Abbey will match your overdraft limit on your current bank account. Obviously this can't be done online, as it requires you to post in your recent bank account statements.

So, they have no other way of finding this out? Credit Reference Agency file? Asking the the switching current account? ('by the way, could you confirm the overdraft on his account? Ta')

mary

kanchhelskis wrote: »

i got this account all set up think i got a 300 pound overdraft i never asked for though.

they tryed contacting my old bank for a list of dd and standing orders, but lloyds tsb has not given them to abbey.

now abbey are askin me to contact lloyds/tsb to get the list.

this is surely abbeys job not mine.

am i right or wrong?

thanks in advance.

I have the same situation. First of all Abbey take an eternity to do anything. However my transfer was coming from First Direct and same thing, they asked me to get in touch with First Direct to supply the list of DD and SOs. I've now had a second such request, obviously my reply crossed with theirs, however, the stupid thing about it is that they must have transferred the SOs anyway as I had set up two bogus SOs for £10 each, so Abbey would have something to transfer and they are now listed on my Abbey account anyway. So they must have done it. I didn't, unless it was the man in the moon.

Also they requested that I sent them the Originator number, but as I set up these SOs myself with First Direct, there is no originator number to my knowledge anyway.