MSE News: A&L/Abbey expected to relaunch £100 bank switching bonus

Former_MSE_Dan

This is the discussion thread for the following MSE news story:

"Abbey and Alliance & Leicester (A&L) are set to reintroduce a £100 sign-up bonus for those switching to some of their current accounts, MoneySavingExpert.com understands.


The pair - part of Spanish banking giant Santander - are expected to launch the incentive on Thursday..."

Read the full story:
A&L/Abbey expected to relaunch £100 bank switching bonus

withnell

I'm just confused about what is happening - will there be a £100 payment for opening a new 6% current account? Early in the article it appears not, but in the calculations it assumes both the bonus and 6%!

bilbo_2

how do you know the £500 deposit per month is going to change ??

The £500 deposit has been the same for a long time now

bangragal

I have an Alliance & Leicester current account - if I moved to Abbey would I still get the bonus as they're part of the same company?

bristolleedsfan

Ive been waiting since 15th August for this. :j That was when 3 Months had elapsed since I closed my Abbey account. :rotfl:

In reply to earlier poster, usually the stipulation is that someone must have not have had an A+L or Abbey Account in the preceding three months. We of course await the latest terms.

ATM : Topcashback are offering 45.00 Cashback ( + 10% more depending on loyalty) for a successful A+L Current Account application, ( Quidco 45.00) and yes both offers usually get paid as the 100.00 offer is a switching incentive whereas the Cashback Site offer is an account opening incentive.

bilbo_2

Its obvious that the info has been passed on to the OP by someone at A&L with the detail of the post.

I would take up the offer of thursday but I an tied to HSBC reg saver offer and must keep my salary otherwise I will lose out on the 8% reg saver rate

OMAR

i'd like to change to abbey from a and l and get this offer.....but would it be allowed is the question!!!

tom188

OMAR wrote: »

i'd like to change to abbey from a and l and get this offer.....but would it be allowed is the question!!!

If this offer is in line with all other recent Santander account offers the answer will be no, you will need to close the Abbey account then wait three months before applying.

YorkshireBoy

Abbey branches now have details of this offer. No leaflets yet (they're due towards the end of this week), so the following is taken from an 'internal communications bulletin'...

• Offer runs from next Monday, 7th September through to 8th November.
• Only available on the 'preferred overdraft option' current account.
• Must pay in £1,000 per month.
• First funding must be within 11 weeks of account opening.
• Funding does not have to be via salary mandate.
• DD, SO, & bill payment mandates must be switched*.
• £100 paid within 3 months of account opening.

* I asked in branch whether the offer was available to those who do not use DDs and was told...

"It's necessary to switch all mandates, ie DDs, SOs, and bill payments, from the old account. If you don't have any DDs you can't switch them! You'll still be paid the £100 if you switch all your SOs and bill payments"

bilbo_2

Nice Thanks

OMAR

any word of whether you can apply if youve already a premier direct account with a and l??