alliance and leicester premier account?

KellyGT · 3 March 2010 at 11:25AM

Have any of you moved to this new account? Promises £100 cashback and 0% overdraft for the first year?

It would be ideal for me but just wanted see if anbody knew if the credit scoring for it would be high criteria or do they not do one? (sorry ive never switched bank accounts before)

Its just at the moment im paying around £26 a month for being in my overdraft which if i switched would be £26 to going off debt. But i only work part time and have a few cards and a loan in my name and even though never faulted on any payments ever i dont think it looks good on my credit file. (I have checked my online file in the past before anybody suggests

)

Any input appreciated

The_Moog_2 · 3 March 2010 at 12:52PM

IMHO it's not worth the £100. If you need to transfer money to other accounts, the so-called faster payment service has a limit of £250, any higher takes 4 days to arrive. I am just in the process of closing my account 3 months on having incurred charges all over the place thanks to that farce of a system.

liamcov · 3 March 2010 at 1:38PM

But say if you wanted to tranfer £1,000 you can do 4x£250 and all instant.

blueberrypie · 3 March 2010 at 11:32PM

KellyGT wrote: »

Its just at the moment im paying around £26 a month for being in my overdraft which if i switched would be £26 to going off debt.

The overdraft-matching isn't automatic, so bear in mind that you might be declined for it anyway. Also worth noting that if the account you hold at the minute doesn't go into credit for a certain number of days each month, A&L *will* refuse you the free overdraft.

blueberrypie · 3 March 2010 at 11:34PM

liamcov wrote: »

But say if you wanted to tranfer £1,000 you can do 4x£250 and all instant.

Erm, no. A&L won't let you make two transfers to the same account in one day. Some people have been able to make more than one FP transfer of £250 in a day, but only if sending to two (or more) different accounts.

KellyGT · 4 March 2010 at 11:51AM

blueberrypie wrote: »

The overdraft-matching isn't automatic, so bear in mind that you might be declined for it anyway. Also worth noting that if the account you hold at the minute doesn't go into credit for a certain number of days each month, A&L *will* refuse you the free overdraft.

Oh well thats me screwed then! Thanks for that very helpful