Premier direct current account..charges?

lindos90

I have a premier direct current account, and usually credit it by at least £500 every month, as I believe this is a condition of the account to get the high interest for the month..I have messed up this month and tonight Ive realised Ive only paid in £450.

I have transfered some online from a savings account I also have with A&L which should clear by midnight I hope, however Im thinking the credit of £500 has to be 'new money' from outside, but doing it just incase it works.

Whats worrying me though is that I seem to remember that if you dont fund the account by £500 there 'could be' a charge, but I cannot find any details about this.

Ive looked on the A&L website, but cannot find an answer, just going round in circles via their search pages, anyone experienced this and have any advice?

noh

http://www.alliance-leicester.co.uk/siteinfo/legal.aspx?ct=footer#12

the fees are detailed here:-

http://www.alliance-leicester.co.uk/customer-service/pdfs/Guide-to-Current-Account-Fees.pdf

The underfunding fee is £5 for any month you pay in less than £500.

They may not charge you for this one month if you pay in £500 next month.

lindos90

noh wrote: »

http://www.alliance-leicester.co.uk/siteinfo/legal.aspx?ct=footer#12

the fees are detailed here:-

http://www.alliance-leicester.co.uk/customer-service/pdfs/Guide-to-Current-Account-Fees.pdf

The underfunding fee is £5 for any month you pay in less than £500.

They may not charge you for this one month if you pay in £500 next month.

Thanks for that Noh, I got myself into a right tiz when I was searching for it on the A&L site, I'll either pop to my local branch or give the call centre a call tomorrow, not sure which one would be best really.
Guess I cant grumble too much, as ive had pretty decent interest from them over several months, will teach me to check and add up better though:o.

YorkshireBoy

lindos90 wrote: »

I'll either pop to my local branch or give the call centre a call tomorrow

What for?

not sure which one would be best really.

Probably neither, knowing their reputation!


A couple of points to ponder:

I'm not sure you lose the higher interest if you don't pay in >£500.

Are you sure it's per calendar month (to avoid the fees)? I seem to recall it's statement period, because I'm sure I've paid into mine at 7 week intervals (obviously missing a complete calendar month out) before now and not been charged the fiver.

lindos90

YorkshireBoy wrote: »

What for?Probably neither, knowing their reputation!


A couple of points to ponder:

I'm not sure you lose the higher interest if you don't pay in >£500.

Are you sure it's per calendar month (to avoid the fees)? I seem to recall it's statement period, because I'm sure I've paid into mine at 7 week intervals (obviously missing a complete calendar month out) before now and not been charged the fiver.

Thanks YB, I thought it would be best to discuss it with someone but not sure if the branch or call center would be best, as I assume the charge would be made, unless it was 'waivered' manually.

Not sure what my statement period is really, as I dont get written statements (online account) but I do get what you mean. Best thing is to pay in £50 tomorrow morning and cross my fingers, nothing to loose I guess.

I think im getting the interest issue from my TSB vantage accounts, if they are not funded with 1k a month, the interest rate for the whole month is 0.01% on the whole amount.

noh

I always thought it was a calendar month.
People have reported previously that they haven't been charged the fee until they have failed to pay in the required amount for 3 consecutive months.

lindos90

noh wrote: »

I always thought it was a calendar month.
People have reported previously that they haven't been charged the fee until they have failed to pay in the required amount for 3 consecutive months.

Thanks, Im thinking that with the wording being they 'may' charge, it may not kick in unless its underfunded for more than one consecutive month, will have to see, thanks for your help!

The underfunding this month was an oversight (unable to get into town to pay a cheque in due to family illness) so hopefully a one off!