A&L Online Saver 2 (merged)

shown73

I must be missing something here, not unusual, but I've just now been on A&L website, 16/3/06, and they are still offering 5.2% until 07. Presumably I could click on buy, and go forward at this rate. Sounds ok to me, and pretty unequivocal.

YorkshireBoy

shown73 wrote:

I must be missing something here..

You're missing the fact that this thread is about the Online Saver 2 account. The 5.2% rate you saw is for the A&L ISA.

anticlaus105

This is annoying. I opened my account in Oct and was under the impression the bonus rate period had been extended 9 months. This website gave this impression but I didn't read the small print.

Does anyone know if A+L are allowed to do this i.e. a sort of misreprasentation.

qian

online saver issure 2 wether free bound money, does it affect the interest if withdraw money meantime?

Pitchshifter

I just had shout about this, and this looks like the best place to do it!>

WHAT AN AWFUL WEBSITE ALIANCE AND LEISTER HAS!!

Either it's been designed by mongoloid chimps with no eyes and a crack habit or it's just a deliberate web of deceit cloaked in mystery and lies!
My bet is the former!

The information their website provides about your own savings account is shocking.

For God's sake why don't they just tell you what rate your own account is currently getting?

I put £14000 in there, just 2 weeks before this current rate change.
EXCEPT THERE WAS NO DAMN RATE CHANGE WAS THERE!

So, seeing as the rate of my new account had apparently gone from 5.15 to 4.25 with no mention of the bonus still being applied. I was furious at having wasted my time bothering to move my money to this pathetic company and promptly moved it all back to my Halifax websaver, which is at least transparent info-wise.

This lack of correct and clear information helps no one, not least the institution. I'm sure they would rather my money was in their account.

My god the people running the A&L website should be sacked or shot or both for that atrocity, I've seen better sites on Myspace!

And relax...rant over.

codetown

Pitchshifter wrote:

I put £14000 in there, just 2 weeks before this current rate change.
EXCEPT THERE WAS NO DAMN RATE CHANGE WAS THERE!

Hi, I agree that the situation was initially not clear.
Just ask and replies will come! This site (MSE) is usually very useful and helpful in digging down the reality regarding savings.

We found out what was the real situation almost immediately.
Read these posts:
http://forums.moneysavingexpert.com/showpost.html?p=1770203&postcount=24 and
http://forums.moneysavingexpert.com/showpost.html?p=1770203&postcount=25

And you will know exactly what A&L should have been told you in the first place.

From what you say I guess you sould still be getting a good return of interest on your money on A&L (assuming your account is not closed), so you can move money bcak in there. The rate refers to the account opening date, not to the money deposit, so you can still put all your money and get the 5.15% interest rate!

Pitchshifter

My account is not closed (there's small ammount still there) so I know I can just move it back AGAIN. So all is not lost. On a more positive note, think about this. The standard rate of 4.25 is obviously pretty rubbish compared to every other online saving product, so it might even go UP being a variable account. (You never know.)
Anyway I'm still going to slag off A&L to everyone. Until they increase that rate I'll tell people to steer clear.

You shouldn't have to seach the web reading forums getting heresay infomation about other peoples experiences and what information they have found or been given. :mad:

Aark

What Alliance & Leicester should have done is have an Online Saver Issue 2a, Issue 2b, Issue 2c etc. to indicate accounts with the same variable rate but different fixed bonus rates on top (for varying periods).

Then they could have shown the 5.15% as a closed issue rate (which it is), instead of a previous rate (which it isn't).

lipidicman

Stormy wrote:

I had an Online Saver Issue 1 which used to be a great rate, but died off so I moved all the money out.

I kept mine. It will be a better payer in July. The limit has gone up to £50k and over £30k it pays 4.75% (cf 4.25% in issue 2 now!).

Did anyone else spot this?

david78

Yes I kept mine too. But I won't have amywhere near £30k to benefit from it.