Moving Current Account from A&L to Abbey

skyjumper

I'm thinking of transferring my Current Account. A&L to Abbey.

these are my reasons.

1. abbey giving an incentive for transferring the current account
2. don't do much with my A&L as HSBC is my current bank & I'm happy
3. Also planning for applying the abbey zero Credit Card

now my questions

1. Do I need to have Direct Debits and Standing orders with A&L before transferring the account.

2. Do I have to close the A&L account once I get the account with abbey?

3. Will there be any problems as I'm transferring from A&L to Abbey- they both are managed by Santander Group- can't find anything else other than
their t & c from abbey says

£100 Bank Account
We will pay you £100 cash back as long as you credit your account with at least 3 monthly payments of £1,000 or more within the first 6 months of opening.
You will benefit from a 12.9% EAR (variable) Advance Overdraft rate as long as you pay at least £1,000 into the account each month.
To receive the £100 you must be a new Abbey banking customer and use the Account Transfer Service. You will be able to switch to any other Abbey account after the first 12 months of opening.

any advice and suggestions welcome

simon_templar_2

The account transfer service need to move your salary/benefits and also any standing orders and direct debits you may have. The closing of the account can be done by Abbey or by you, you will have the choice which way to go.

Abbey & A&L operate as separate entities just like before, customers cannot transact in the other bank. In time they will but for now treat each as totally separate.

masonic

skyjumper wrote: »

1. abbey giving an incentive for transferring the current account

Are they? I thought that had finished.

1. Do I need to have Direct Debits and Standing orders with A&L before transferring the account.

I believe you need at least one active direct debit.

2. Do I have to close the A&L account once I get the account with abbey?

No.

3. Will there be any problems as I'm transferring from A&L to Abbey- they both are managed by Santander Group- can't find anything else other than
their t & c from abbey says

This shouldn't be a problem. People going from Abbey -> A&L no longer qualify for that incentive, but as far as I know Abbey have not made a similar exemption to those people transferring from A&L (although I thought the whole offer had been pulled).

skyjumper

thanks simon

regarding the salary and DD- salary is paid to HSBC
but I can rotate 1000 in and out of abbey as they don't specify that you need have your salary paud into the account it only says as long as you debit the account with £1000 every month, you will still meet the criteria

skyjumper

thanks masonic,

it's still in their main webpage and they habe links to apply online too. haven't tried it yet, but was going to give it a try.

simon_templar_2

The offer is ONLY via Abbey website. As long as £1000 goes through 3 times that is ok even if it is the same £1000 3 times! If you dont have any DD's or SO's then none can be transferred of course!

I owuld suggest keeping a close eye on both accounts during the transfer period just to make sure nothing goes wrong ie bounced DD's and if you incur any charges on Abbey side they will refund them.

masonic

skyjumper wrote: »

it's still in their main webpage and they habe links to apply online too. haven't tried it yet, but was going to give it a try.

You're right. From what I remember, the offer was supposed to have ended in December, but it is definitely still there as an option on the website, so either it didn't end or it's been relaunched.

simon_templar_2

It ended in branch on December 15th. Now a lot of staff in the branch didnt know it was still online as we were led to belive after Dec 15th offer closed!!

skyjumper

thanks guys

what if I take a print out from their website and approach the local branch.

it says very clearly on the webpage that you can apply for this account -"online or by free phone or call into your local branch"

simon_templar_2

The £100 is only on line. Ive looked on the website, it does explain near the bottom of the 'apply now' bit as it takes you to the online application. If you go to your local branch they will not be able to do it as the option is not on the Partenon sales system!

masonic

You could try but I doubt you would get very far. They'd more than likely assume the webpage was not up to date.