Alliance and Leicester Online Saver Account

panther

How long does it normaly take for the money to be credited in the issue 2 account? I transfered funds from my linked current account on Sunday but nothing's showing in my online saver 2 account as yet.

masonic

panther wrote:

How long does it normaly take for the money to be credited in the issue 2 account? I transfered funds from my linked current account on Sunday but nothing's showing in my online saver 2 account as yet.

If it's your first transfer it should take around 8 working days, so it should be credited early next week. Subsequent transfers will take about 4 working days.

panther

Thanks for that. Up to 8 days does seem a long time in today's technological world. No doubt a nice little earner for the bank to earn a weeks interest before deciding to share it with the rest of us - or am I being too cynical!

theJudge

FYI, from 2007, electronic transfers between 2 personal bank accounts will have to be completed within 1 working day, and in most cases will be virtually instantaneous. The change has come due to pressure from consumers, rather than unilateral action on the part of banks or the OFT

Swipe

panther wrote:

How long does it normaly take for the money to be credited in the issue 2 account? I transfered funds from my linked current account on Sunday but nothing's showing in my online saver 2 account as yet.

My first transfer of £1 took 5 working days to arrive. One day more than my withdrawral from my issue 1 account.

masonic

panther wrote:

Up to 8 days does seem a long time in today's technological world. No doubt a nice little earner for the bank to earn a weeks interest before deciding to share it with the rest of us - or am I being too cynical!

Since the transfers are by direct debit, the money should be sitting in your linked account during that extra time, so there's no profit to be made by making you wait an extra few days.

Interestingly, my first transfer to my new issue 2 account has gone through in 4 days (I already have an active dd for my issue 1 account). I was expecting extra delays from A&L simply collecting under a new reference.

panther

Yes I also have an Issue One account with the same linked current account so thought the transfer would have gone through quicker but it's now a full week and still nothing showing in the Issue 2 account. Will give it till Wednesday (8 working days). I don't understand why A&L do not allow you to simply transfer from one account to the other.

mossie70

Hi guys,

This may be a silly question, but I just wanted to confirm that if I was to open an A+L Online Account Issue 2 (I already have an Issue 1 account) and transfer all my money across to the new Issue 2 account, would my interest be carried over from Online Account 1 even though it is paid annually, in April?

Dan29

mossie70 wrote:

would my interest be carried over from Online Account 1 even though it is paid annually, in April?

Yes just leave £1 or £2 in the account and the interest will be paid at the normal time. You can then transfer it to your Issue 2 account

mossie70

Many thanks for the reply Dan29