FAO: Alliance & Leicester 10% ISA Holders

abx

Hi, today I called A&L to ask if the interest I was credited on the 1st of Jan 2009 was from the opening of the account til Jan or til April and after her poor explanation of that the woman went on to tell me that the rate dropped from 10% to 7.3% on the 2nd of December 2008.

Just a heads up to let people know.

Has anyone else had this happen to them?

Baldur

If you mean the Premier ISA Issue 2, the rate was 8.3% from December 1st 2008, going down to 7.3% on January 2nd 2009, according to their website - http://www.alliance-leicester.co.uk/savings/interest-rates.aspx

abx

Baldur wrote: »

If you mean the Premier ISA Issue 2, the rate was 8.3% from December 1st 2008, going down to 7.3% on January 2nd 2009, according to their website - http://www.alliance-leicester.co.uk/savings/interest-rates.aspx

Thanks for that! I didn't even know that it was a variable rate ISA. I hope my Halifax International monthly saver @ 10% (gross) doesn't drop too!!

[Deleted User]

I have one of these accounts - this was a variable rate but with a rate guarantee until June 2009 of 10%.

Can someone confirm that A&L have broken their rate guarantee here and does anyone have a copy of the original T&Cs?

Baldur

Deleted_User wrote: »

I have one of these accounts - this was a variable rate but with a rate guarantee until June 2009 of 10%.

Can someone confirm that A&L have broken their rate guarantee here and does anyone have a copy of the original T&Cs?

You should have been issued with a copy of the Ts & Cs when you opened the account.

A&L and Abbey have traditionally been pretty good at giving the impression that rates are fixed/guaranteed until you actually read the small print and realise that it's something like a 1% 'bonus' which is guaranteed, rather than the underlying variable rate.

You can confirm the actual rate being paid to your particular account by entering the 1st 3 digits of your account number here - http://www.alliance-leicester.co.uk/savings/interest-rates.aspx

abx

Deleted_User wrote: »

I have one of these accounts - this was a variable rate but with a rate guarantee until June 2009 of 10%.

Can someone confirm that A&L have broken their rate guarantee here and does anyone have a copy of the original T&Cs?

I can't find my original T&C's but I will have a proper look through the files later on. Let me know if you find anything!

[Deleted User]

Grr...I've had a quick look through my files and I don't think I kept a copy of the original T&Cs. If anyone can find a copy of the leaflet or webpage advertising the 10% ISA offer then please do send me a PM; I will help you go after A&L if they are in breach of the terms!!

AnnoyedJimster...

dwh_3

I have one - The ISA was only available to people who signed up for certain new Premier current accounts. The 10% guarantee is only on the current account, and the ISA was clearly said to be variable. I was surprised I managed to get 8 months at 10%, and I'm still surprised it's so high today!

[Deleted User]

That is not entirely correct. There was no rate guarantee on the current account which was only about 1% interest anyway. As far as I recall, the ISA was variable, but with a guarantee that it would remain at 10% until June 2009.

Does anyone have a copy of the leaflet with the original 10% ISA offer? I accept that it is possible that I've remembered this wrongly.

Thanks!

dwh_3

It seems we have different accounts then - I got mine alongside signing up to a Premier 21 account which pays 10% fixed for one year on the first £1000 and 0.1% above, and my ISA was definitely variable... I'll try to dig out any paperwork I have in a bit

payless

strangely I looked at this this ( prem isa 2) morning as well... I was sure it was fixed... but no, the screen print did say variable