Closing a regular saver

dooglebugg

My partner has some savings in a regular online saver with Alliance and Leicester.

Due to their appaulling customer service and no end of problems we have had I am considering closing both our accounts and moving elsewhere again.

The saver that he has cannot be accessed unless the account is closed or after one year, the money, with interest gets paid into his account for him to reinvest as he sees fit.

I know this is probably a really silly question but if we close the account before the year is up, would he still get a proportion of the interest accrued to date? As it is a link saver account, I don't think we could keep it open if his account was not with them anymore.

Sorry if I'm being a div!

Careful_ly

Hi Dooglebugg
I take it that you are talking about the 10% regular saver? If so it appears that you can close this if you wish to
"What if I want to withdraw from my Premier Regular Saver?
Withdrawals are not permitted from Premier Regular Saver. If you require access to your funds, the account can be closed by calling Current Account Customer Services on 08459 26 26 26 and speaking with an advisor. The balance, including accumulated interest, will be transferred to your linked Premier current account."

But you could consider moving your banking but keeping the account going, by funding with the minimum £500 and withdrawing funds over the amount of your monthly savings amount each month. It depends if you think it is worth the trouble. HTH

grumbler

dooglebugg wrote:

... if we close the account before the year is up, would he still get a proportion of the interest accrued to date?

FAQ's about Premier Regular Saver:

What if I want to withdraw from my Premier Regular Saver?
Withdrawals are not permitted from Premier Regular Saver. If you require access to your funds, the account can be closed by calling Current Account Customer Services on 08459 26 26 26 and speaking with an advisor. The balance, including accumulated interest, will be transferred to your linked Premier current account.

dooglebugg

I suppose it would have helped me to read the thing before asking wouldn't it!

Sorry guys, it was late last night!

thanks for the help!