Alliance & Leicester - The account must be opened with a minimum balance of £1,000

dougz_2

Just ask the question through their secure web messaging. They typically reply within a day or two, and you can then store that as your written proof.

juicyjude

If you go to the website and click on savings there is a link then on the right hand side which you can click onto which says interest rates. After clicking on that you, as previous posters stated before, put your first three digits in of your account and it will tell you what youre getting. Hope this helps

Consumerist

juicyjude wrote: »

. . you can click onto which says interest rates.

The account was opened (i.e. the account number assigned) before any deposit was made. I don't see how knowing the account number can determine the interest rate for a saver who did not comply with the account-opening conditions.
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Filey

epsilondraconis wrote: »

It's amazing, the more I know, the more I realise how little I really know about anything. Is it just me, or do other people also wish that they were slightly more intelligent than they currently are? There is so much exciting stuff out there to look at and attempt to understand - I just wish I had more time. I feel my life is ebbing away just dealing with mundane drivel.

Me too !!!! I know exactly how you feel. And I need to be getting on with it as I am already 75. Fortunately being retired I can devote more to finding out about Life, the Universe and Everything.

Must go now. Got stuff to do.................................
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epsilondraconis

Hi all, just thought I'd update everyone. I called A&L and asked for them about the rate I was getting, they confirmed it was higher rate. I obviously explained my dilemma regarding the bonus rate issue and asked them to send me a letter or an email confirming the rate. He said they were unable to do that. I had opened a new online saver issue 7 recently anyway (£20 via Topcashback) and so just asked them to tranfer the money from the issue 5 account into that issue 7 account. Unfortunately, even that simple task was too much for A&L. Instead the money from the issue 5 savings account needs to be transerred back to the issuing account - in this case an external bank account. I then have to transfer the money back into the issue 7 savings account. Sigh...

Even though the issue 7 savings account has a slightly lower rate than the issue 5 rate, at least now I won't have to fight when they finally pay the issue 5 annual interest and find that I received the lower rate.

Filey wrote: »

Me too !!!! I know exactly how you feel. And I need to be getting on with it as I am already 75. Fortunately being retired I can devote more to finding out about Life, the Universe and Everything.

Must go now. Got stuff to do.................................
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Wow, 75. I can only hope I reach that age. I'm 36 although feel like 76.

Just out of interest, if you do find the answer to Life, the Universe and Everything, please come back and let us know. I hope you have many number of years of happy searching. Take care...

Consumerist

epsilondraconis wrote: »

Instead the money from the issue 5 savings account needs to be transerred back to the issuing account - in this case an external bank account.

This appears to be complete nonsense - what happens if the original external account has since been closed. :rotfl:

You should be able to complete the transfer yourself online. Have you tried?

Why am I not surprised at the "advice" they have given you?
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Consumerist

Just had a look at the A&L website for issue 7 which states :-

ACCESS your money within 24 hours when you transfer to your Alliance & Leicester current account or up to 4 working days for transfers to a current account with another provider.

This doesn't say that you can't transfer directly between savings accounts but nor does it say that you can.

This lot really are the pits if you can't transfer between savings accounts.:(
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noh

.........This doesn't say that you can't transfer directly between savings accounts but nor does it say that you can.
This lot really are the pits if you can't transfer between savings accounts.
Withdrawals are allowed only to the nominated current account.

You can only withdraw funds to the nominated bank account.

See condition 34.4 on page 25
http://www.alliance-leicester.co.uk/customer-service/pdfs/Savings-terms-and-conditions.pdf

A+L are not the only ones who operate in this way

atypical

Consumerist wrote: »

You should be able to complete the transfer yourself online. Have you tried?

You're not able to. If you do it in chunks of £250 though it will go as a Faster Payment to the linked account, then it can be transferred back as a Faster Payment into a different issue. Assuming the linked account is Faster Payment enabled of course.

epsilondraconis

Consumerist wrote: »

This appears to be complete nonsense - what happens if the original external account has since been closed. :rotfl:

You should be able to complete the transfer yourself online. Have you tried?

Why am I not surprised at the "advice" they have given you?
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Unfortunately as 'atypical' has found, you're not allowed to transfer between savings accounts. I've tried to conduct the transaction using their web facility, and obviously asked the person when I phoned them, but no joy for either route.

Part of the reason I went with A&L because the faster payment method works when I transfer money from my external account into the A&L savings account (although, until atypical indicated in their post, I hadn't realised there was a limit of £250).

It used to take 4 days when I transferred money into my old Bradford and Bingley savings account.