A&l..

mrchagle

Hi all,

After watching the thread regarding the HBOS Rewards Current account I thought I'd take a look at A&L, they seem to do a refer-a-friend system whereby you and a friend get £50 to share. I understand that a minimum has to go into the account each month but with Faster Payments from HBOS to A&L and back again.. shouldn't be a problem.

Anyone else got a A&L account just to get the free money.. so to speak?

cottager

mrchagle wrote: »

... they seem to do a refer-a-friend system whereby you and a friend get £50 to share. I understand that a minimum has to go into the account each month but with Faster Payments from HBOS to A&L and back again.. shouldn't be a problem.

Anyone else got a A&L account just to get the free money.. so to speak?

Not something I've done, but I think you probably need to use the Referrers board for this. Here's the thread to do it on, the link going to the last (current) page of it:
http://forums.moneysavingexpert.com/showthread.html?t=513795&page=13
You should probably also read Martin's post here about the Referrers board:
http://forums.moneysavingexpert.com/showthread.html?t=103393

A&L's current Faster Payments limit is £250 as compared with the required funding of £500/month to the Premier Direct account.

blueberrypie

mrchagle wrote: »

Hi all,

After watching the thread regarding the HBOS Rewards Current account I thought I'd take a look at A&L, they seem to do a refer-a-friend system whereby you and a friend get £50 to share. I understand that a minimum has to go into the account each month but with Faster Payments from HBOS to A&L and back again.. shouldn't be a problem.

Anyone else got a A&L account just to get the free money.. so to speak?

There are a lot of people on this forum who've done just that - and many who've regretted it. There are numerous complaints about A&L on these forums, for a wide range of reasons. Their FP limit is £250, and you can only send one payment per account per day. If you didn't have all of the funds you spend today available in your account *yesterday*, you'll be charged for going overdrawn. If you transfer money from one A&L account to another in your own name, the funds won't land in the second account until the following day. The on-line banking is horrendous - no transactions from today appear, and there are several balances shown, usually all of them different. There's more - if you want more info, do some reading on this forum.

It might have been worth it for the £100 switching offer they had on, but it's certainly not worth it for £25. And even for the switching offer, many people found that A&L wriggled out of paying by taking so long to deal with transferred DDs etc.

mrchagle

Thanks - Maybe not worth the £25 then.

I wasn't planning on sing any o/d just transferring money in/out to satisfy the £500 rule. Possibly would have closed the account after a short while.. but not sure about T&Cs in this case.