Alliance and Leicester - Premier Current Account

Busster

I have just switched to this account to get the £100 and cashback from topcashback. I signed up on the 3rd of Feb and everything has come through the post (card, pin etc.) now I'm just waiting on the DD's to be moved (which isn't that many to be honest)

I have a few queries regarding the A&L Premier Current Account:

Firstly, it states you must deposit £500 within 11 weeks to qualify for the £100. But also states you need to deposit £500 each month or 'fees may apply'. Does that mean I need to deposit £500 in February or they will charge me? How much would they charge?

Secondly, Can this £500 be transferred from my current HSBC bank, and then transferred out again a few days later. Is there a minimum time it has to be in my account? Or do I have to withdraw as cash and deposit in my HSBC account?

Thirdly, if I also open the Reward Current Account which pays £5 on paying in £1000 per month. Can I just transfer £1000 HSBC->Halifax->HSBC to qualify?

Thanks in advance for any help/advice!

anamenottaken

Busster wrote: »

I have just switched to this account to get the £100 and cashback from topcashback. I signed up on the 3rd of Feb and everything has come through the post (card, pin etc.) now I'm just waiting on the DD's to be moved (which isn't that many to be honest)

I have a few queries regarding the A&L Premier Current Account:

Firstly, it states you must deposit £500 within 11 weeks to qualify for the £100. But also states you need to deposit £500 each month or 'fees may apply'. Does that mean I need to deposit £500 in February or they will charge me? How much would they charge? The 11 weeks overrules the per month - so there will be no charge re February if you don't pay in £500.

Secondly, Can this £500 be transferred from my current HSBC bank, and then transferred out again a few days later. Is there a minimum time it has to be in my account? Or do I have to withdraw as cash and deposit in my HSBC account? Can do transfer in and then out as your first suggestion: there is no need to use the cash route.

Thirdly, if I also open the Reward Current Account which pays £5 on paying in £1000 per month. Can I just transfer £1000 HSBC->Halifax->HSBC to qualify? Yes

Thanks in advance for any help/advice!

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Busster

Perfect answers!

dolphinstwins

Nice one - I was just thinking about the very same thing! lol
I've been with HSBC for over 15years and they've naffed up my account yet again so I'm throwing a strop and leaving... but I was torn between the Halifax (of which I'm an existing customer with savings) or the A&L one...

Cheers

Consumerist

Busster wrote: »

I have a few queries regarding the A&L Premier Current Account:

1. There are no charges for the first three months. So you only need to deposit the agreed amount within 11 weeks.

2. You can, and I do, transfer money in and out of the account on the same day. Your total deposits in any month must be at least the agreed amount.

3. I see no reason why not.

Be advised, there is much complaining and gnashing of teeth in other posts on this site concerning the Premier Current Account. Be sure to read the Ts & Cs very carefully to make sure you comply with all their requirements. You must, for example, transfer ALL your DDs using their switching service. It is not, however, necessary to transfer your income or close previous accounts. Well, that was the situation when I opened the account - you really must check the terms of the current offer to be absolutely sure.

Hope this helps.
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