A&L Premier Direct Account - Help

moneysavingaddict07

This might be a daft quesiton but ive always thought the tax on interest in a current account is 20%. However i rmemeber someone saying 22%. I haven't told them what tax band im in, so i assume they are taxing me at the standard rate. I've even checked the maths and it is around 22%. Is anyone else getting this?

MiserlyMartin

No thats strange. I would query it with them. Its looking like these accounts aren't worth the aggro. Poor customer service, no bonus any more. The 0% overdraft for 12 months might be worth it but you have to use the switching service and switch your salary. The travel insurance - is it as good as a paid policy?

lesleydn

You can tell Im a newbie because I havent a clue who FD are? I have been looking at high interest current accounts & the opportunities to shift money money around between them to maximise interest. My question is, assuming I am prepared to spend time to make transactions on time etc., put up with poor customer service; and closuere of accounts when interest is reduced - would ongoing opening and closing of accounts have a negative impact on my personal credit rating?