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

Consumerist

noh wrote: »

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

Well, it seems that there's no getting away from it - they've got you dead to rights.

In my experience, a BACS transfer generally takes two days, occasionally three, so, with luck, if you transfer out from A&L on Monday, you stand a reasonable chance of having it back into the Issue 7 by Friday even without FPS.

It will be interesting to see how much interest they pay you for the period you've had the account open.

I would suggest closing the Issue 5 after you have transferred all funds out rather than asking them to close the account and transfer the closing balance to your external account. They are bound to introduce some delay to close the account. This won't matter once all your funds are transferred.
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atypical

epsilondraconis wrote: »

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).

The £250 limit is only on payments out of the account. I believe payments in are only limited by how much your linked account will allow you to send. There's info' on the limits here.

epsilondraconis

Thanks for the feedback everyone - all of the information has been very useful.