Alliance and leicester cashback account

MoodyBlues

Thanks naughtymittens that eases my mind a bit. I'll just have to be patient! I may have to ask A&L to raise the limit as it doesn't match the current one I have!
niccatw that's good news on the od - interest free for a year too? Very handy.

MoodyBlues

Direct debits have still not been sorted out, and I still haven't received the cashback! Oh well

MoodyBlues

Supposedly the direct debits have all been sorted out now.....trouble is they contacted my work saying I wanted my salary transferred to them, which I never agreed to.
I really hope they haven't messed up anything else.

kilgore1080

A HUGE word of warning about the A&L account for you all:

Their faster payments is capped at £250 (it doesn't tell you that in any of their literature or on their website) so if you try to transfer in/out more than that it'll sit in their "holding account" for 4 working days.

I got stung by not knowing that and nearly missed a couple of payments because of it.

As for getting the £100 cash for opening the account, you only get it if you use their switching service and follow the application process EXACTLY, any mistakes and they'll try to get out of giving it to you. I had to have a few arguements with them to get mine but I did have it within 6 weeks of opening the account.

MoodyBlues

Thanks for the info kilgore1080, I'd heard something about the faster payment issue before.

nomorespending

Hi,
Am gutted to hear they're not so great!! I applied 2 weeks ago on line, got response on line immediately and then account information through the post 2 days later, with a request for cheque book form with the info, sent it back and got the cheque book 2 days later, along with a credit card. Within a week I had a list of all my direct debits for me to authorize for them to change over.. have been impressed so far.. no doubt they will soon dissappoint me but thought i'd share my experince which up til now i have thought has been good! Will have to see if I get my £100 though... I haven't transferred every single DD - fingers crossed they don't refuse me the 100 because of that! I have used their premier service though. Will transfer £500 into the account now i think just to be sure!

niccatw

Nomorespending, I'm in exactly the same position as you! Will keep and eye on it.

I'm not expecting them to be "good" (they're a bank after all!). I've moved from HBOS to RBS and now to A&L. Also have a Co-op account for anything other than bills. I'm not loyal. If I don't like them, I'll stick with them until there's a lot less movement on my credit report and then I'll run

MoodyBlues

I've received the £100 finally for switching over and all but one of the direct debits have been set up properly. I'll have to keep an eye on them over this month and make sure that the payments go out properly.
Despite the fact that I did not request my salary to go into this account they sent a letter to my employer (I guess my other bank gave them details of my employer since I didn't) saying that I requested my salary to be paid into the account. This really annoyed me. I've made sure my work isn't going to move my salary unless I request it.
My biggest fear is that they will try to close the direct debits and standing orders from my other bank telling them that I requested it (which I did not)! Need to speak with my other bank on Monday to make sure they decline stopping/deleting any standing orders/ direct debits that I haven't set up with the A&L.
Uugh nightmare. At least I have the £100. I still need to fix the overdraft issue, one of the direct debits, and make sure all the other payments get paid properly this month.
Good luck to everyone else on this - you'll need it!

MoodyBlues

Silly question. If you are overdrawn on this type of account, do you still get the benefits of the 0% overdraft if you continue to pay at least £500 onto the account each month even if the account is still overdrawn when you have paid in the £500 or are you meant to be in credit when the payment has gone in?

andrewmp

kilgore1080 wrote: »

A HUGE word of warning about the A&L account for you all:

Their faster payments is capped at £250 (it doesn't tell you that in any of their literature or on their website) so if you try to transfer in/out more than that it'll sit in their "holding account" for 4 working days.

I got stung by not knowing that and nearly missed a couple of payments because of it.

As for getting the £100 cash for opening the account, you only get it if you use their switching service and follow the application process EXACTLY, any mistakes and they'll try to get out of giving it to you. I had to have a few arguements with them to get mine but I did have it within 6 weeks of opening the account.

It's weird, I got my cashback today, I haven't even been paid into that account yet. First direct debits just started to come out!