Minimum effort required for £100 A&L Offer?

PlasticMan_2

Hi,

I know this probably isn't in the spirit of the thing but is there a possibility of taking the £100 for little long term commitment here?

I'm thinking:
1) Set up A&L Premier a/c.
2) Set up monthly standing order for £500 into A&L (after payday, say 3rd of the month).
3) Set up monthly standing order for £470 (slightly later, say 6th of the month).
4) Transfer a direct debit (mobile phone - £25 per month maybe?).*
5) After specified period** transfer dd back and close account.

So, seems like easy money? :think:

Questions are:
* Will the switching service let me transfer just one dd? I have quite a lot from various accounts (some personal, some joint) so surely they can't make me transfer all of them (especially if they don't know about them!)?

** How long is "specified period". The website small print says they will pay the £100 within 4 months, but doesn't seem to specify if you must continue to run the account any longer. Can I take the £100 and run at this point?

I'm not really interested in a long term A&L current account. They don't have the ethical credentials of my Smile account and I've seen some unhappy customers on these forums.

Any thoughts appreciated (and soon - since the offer is closing!).

Cheers,

Brian

Milarky

To qualify for most switching-service incentives with banks it seems you only need a single DD and the 'specified period' can be as short as you like. Specific conditions will vary but, AFAIK, A&L doesn't impose any period or require any specific number (greater than one)

Common sense, however, dictates that you should operate the account how they want you to until they make the incentive payment. The two conditions seem to be

1) was the 'switching-service' used?

2) is the account still 'open' after four months...

(Can't be more specific as I haven't used them for this.. yet!)

roddydogs

As before the best way is to have another current a/c with just one or two DDs in and use that..............But offer ends 2/4.

Hazzanet

Opened my account 19/01/09, transferred one PayPal DD, they paid out the £100 yesterday.

PlasticMan_2

Well. Transferred my one direct debit back, took the 100 pounds out and closed the account today.

Money for nothing!

Two issues I did have with A&L:

- They sent me a letter listing the payments they were going to transfer, which included several standing orders which they had never mentioned and which I didn't wish to transfer. The letter stated that if I didn't want to transfer any payments listed I should return the amended list by the 23rd. I got the letter on the 22nd.

- They've also sent me several unpleasant and unsolicited Life Insurance spams ("You love your family, but how much?" - I find that offensive).

So I'm glad I didn't plan to stay with A&L but I'd do it again for the money (if they'd let me!).

al4x

thought this would be a fail as i didnt have any DDs but when i got the switching letter i had a paypal one! few, saved me £100! and i got unexpected travel insurance [had a holiday in a week!] so with that im keeping the account!

great website this!