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A & L rate

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HI, I've had the 5% rate for my account for a year now so it's dropped down to the lower level. New customers are getting the 5% still. Is it worth saying I'll close the account unless I'm bumped back up to the 5%? They should be showing loyalty to their existing customers, not just the new ones!

Cheers!

Comments

  • If you're talking about the Online saver savings account, the only way to increase the rate and stay with A&L if that is what you want to do is to transfer to their new Online Saver issue 2 which is at 5.15% at least till end March 2007. IMHO there is no point trying to negotiate on the interest rate on the savings account you have at the moment (unlike almost anything else to do with money - though if anyone has managed to acchieve an improved rate by haggling I'd be really interested to hear about it;). )
  • You seem to be talking about the Premier Plus (now Premier Direct) current account. I'd say you are highly unlikely to negotiate a better rate given that the drop after 12 months was part of the terms & conditions you signed up to - no harm in asking I suppose :confused:

    Banks as a whole aren't loyal to their customers and there's no reason why you should stay with A&L either, plenty more fish in the sea, though granted not as big or colourful as A&L make themselves appear to new customers :cool:

    JC
  • tomstickland
    tomstickland Posts: 19,538 Forumite
    10,000 Posts Combo Breaker
    As I've recently discovered, you've got to keep moving with this banking/saving lark. No account stays at a headline rate forever. TBH, current accounts probably have an average balance of £500 per year and at 5% that's £20 interest ish per year. But it makes me feel better having a maxxed rate on it.
    Happy chappy
  • Glad
    Glad Posts: 18,927 Senior Ambassador
    Part of the Furniture 10,000 Posts Mortgage-free Glee! Name Dropper
    Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere(please see this rule) so this post/thread has been moved to another board, where it should get more replies. If you have any questions about this policy please email [email="abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/email]
    I am a Senior Forum Ambassador and I support the Forum Team on the Wales, Small Biz MoneySaving, In My Home (includes DIY) MoneySaving, and Old style MoneySaving boards. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.
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