Closing Alliance & Leicester Premier Direct Account

MumOf2

Could anyone help please?

I have a Premier Direct Current Account (5%; £500 funding requirement; £5 fee if not funded). The expiry date for the preferential interest rate is soon. I wish to close the account (and move the balance to top up a Lloyds Vantage).

Now I've heard that A&L are really slow closing accounts and people have been stung with a £5 charge because the account hasn't actually been closed which takes them into overdraft, then the account can't be closed because its OD.

Has anyone downgraded the account to an ordinary current account, then closed it? If so, can you do this on the internet? I don't want to phone as I actually have 2 of these accounts and I don't want to get into a conversation with a CS person about having 2! The other way of doing it, I suppose, is to move £2,500 out, advise in writing that I wish to close the account but keep funding it with £500 (in and out) until it actually doesn't appear on my list of accounts any more?

Does anyone have experience with this? Any advice gratefully received!

MumOf2

johnmoney05

Give them a call. Closed same day. Remember to transfer out all money first. Check back online after one or two days. It will show account is closed. Wait for couple of weeks or months, apply again. Got all benefits for new customer again.

PS. you only can close this account by calling them. It is easy.

MumOf2

Many thanks, John. I'll transfer the money out then phone them.

I'm hoping that in a couple of months my husband can refer me to open a 'new' account and we can both get the £25 again on top of 6% interest...

MumOf2

finder

MumOf2 wrote: »

Many thanks, John. I'll transfer the money out then phone them.

I'm hoping that in a couple of months my husband can refer me to open a 'new' account and we can both get the £25 again on top of 6% interest...

MumOf2

Hi...

Closing and opening the account is just one of your options. What other people are doing when the account is about to go over the 1st year is simply calling A&L and expressing their desire to close the account as the 6% in-credit incentive will be slashed. What A&L is doing (check the thread) is keeping the 6% interest for another year. As I said, if you dont want to go through the hassle of closing the account, just give them a ring and try this.

The_Moog_2

I will let you know on Friday, that is when I was assured my account would be closed by lol.

In the meantime I have left £15 in there in case they take an age and start taking the £5 charge.

heloid

finder wrote: »

Hi...

Closing and opening the account is just one of your options. What other people are doing when the account is about to go over the 1st year is simply calling A&L and expressing their desire to close the account as the 6% in-credit incentive will be slashed. What A&L is doing (check the thread) is keeping the 6% interest for another year. As I said, if you dont want to go through the hassle of closing the account, just give them a ring and try this.

Worked for me last week, just got another 12months @ 6%.