A&L Direct ISA issue 2 closing 11/4/06

meanmachine_2

Yes, the 0.7% bonus is guaranteed until April 2007, I believe.

However that won't stop A&L cutting the underlying 4.5% rate over the next few months.

Trust me - they're (in)famous for it.

david78

Yes, rate cut to 4.2% plus 0.7% fixed = 4.9% in no time.

steve_cov

david78 wrote:

Yes, rate cut to 4.2% plus 0.7% fixed = 4.9% in no time.

Then I shall move to someone paying a higher rate. Simple.

Mikeyorks

in_my_wellies wrote:

I just opened a Halifax ISA at 5% fixed for one year at a branch in my village. Their un-fixed rate was only 3.5% I think but I get the chance to fix again next year.- EVER!

The fixed rate is 5%, the other rate you quote is what they call their variable rate. But there is a Direct variable rate at 4.75%!!

PoorPaul

NottsCountyRule wrote:

The account hasn't yet been added to my current account (which is with Alliance & Leicester as well) yet, so I can't pay into it yet.

Have you tried going to the "Add and Remove Accounts" option and entering the account number they e-mailed to you ?

I did that and then had to go back in and put the tick in the box to manage it online - and there it was !

meanmachine_2

And be aware that, when you do put your 3K in it'll take 8...count em EIGHT working days!

However, the transfer from previous years - which has to be done by an A&L employee over the phone - took less than an hour. Funny that...

JCL

Well I moved money from my A&L Premier Direct Account to my Direct ISA using online banking and it was instant.

masonic

meanmachine wrote:

And be aware that, when you do put your 3K in it'll take 8...count em EIGHT working days!

You also have the option to make the transfer by BACS, taking 3 working days, or to visit a branch with cash or a cheque and get the money credited the same day. Of course, if you have your money safely stashed in a savings account, you could always do a £1 tranfer initially, then subsequent transfers will only take 4 working days.

MiserlyMartin

Wow. Though I expected this to happen. I'm piling in all my ISAs this year. If it does get cut than I shall move the ISA as said before, simple as that. A&L won't dare to cut it, these days people shop around for the best deals as much as they do for a mortgage now we have the internet. If they did cut the rate there would be a massive outflux of money. This is why the Cahoot account stayed good for so long I think.

They are taking ages to transfer one of my ISAs, 29th March it was sent to them apparently. Still nothing at A&L.

MarkyMarkD

meanmachine wrote:

And be aware that, when you do put your 3K in it'll take 8...count em EIGHT working days!

However, the transfer from previous years - which has to be done by an A&L employee over the phone - took less than an hour. Funny that...

How are you transferring money in a way which takes 8 working days? I presume you mean by a new direct debit from an external bank? This 8 working days is a feature of the automated DD system and not A&L's choice. The same applies to an initial DD deposit to ICICI about which much has previously been posted.