Dont Apply To A And L Yet!

CharleneUK

Can anyone tell me if hubby and I are able to refer each other if we open the account at the same time, or no?

$17mma

Brum_Man wrote:

Ie. the whole of the retail network.

Also, you can't won't be able to get the Premier Direct and PRS when the current account rate is incresase to 6.1%, you'll only be able to get the PRS with the normal Premier account that pays 1.5%. So it you want the PRS AND a current account that pays you good interest I'd get a move on......

Ok now I dont want to jump the gun here and go get an account or miss out on these special rates. Omar can you shed any light or confirm that what Brum Man is suggesting correct?

Welshlassie

Our FA has just suggested we apply to A&L to access the 10% deposit account. Is it worth us waiting for the new rates so we get the 6/12% accounts or are you talking about different accounts?

Help anyone??

$17mma

Welshlassie wrote:

Our FA has just suggested we apply to A&L to access the 10% deposit account. Is it worth us waiting for the new rates so we get the 6/12% accounts or are you talking about different accounts?

Help anyone??

Yes we are talking about holding out for the higher rate 6/12% accounts

OMAR

Bare with me....I beleve things have changed and you'll only be allowed one or the other..........will find out.

MPH80

I beleve things have changed and you'll only be allowed one or the other

Interesting - a quick interest calculation tells us that @ 6% - £2500 held there for a year could earn £120 (post tax). Assuming you had £3k to invest (to keep inline with the reg saver) - £500 could be in ICICI @ 5.15% - which would earn an extra £20 - so £140 in all.

If you go with the 12% reg saver, and fund it with money from earnings (rather than savings), and use the entire £250 per month, you'd get £160. If you were funding from savings - you'd get even more.

Looks like the Reg Saver is probably the way to go if you can afford the £250 a month.

Of course - if you need to get to the money - you'd be better off with the 6%.

murphydavid

I'm trying to get my head round this?
Before I do my sums!
Am I right in saying there are three options to consider.
1. Before September a current account at 5% + a regular saver of max £250 a month at 10% AER not available after September but continuing after September.
2. After September a current account paying 1.5% and a regular saver of max £250 paying 12% AER- current account compulsory.
3. After September a current account paying 6.1% but no option to take out a regular saver.

????

One further thing. Do you thing all this convoluted mess is a ploy to get new customers and the 6.1% interest will rapidly decay when a certain number of new customers are recruited?

EagerLearner

CharleneUK wrote:

Can anyone tell me if hubby and I are able to refer each other if we open the account at the same time, or no?

I want to know this too...

Plus whether I should apply for the A&L account now via Quidco, or wait til September.

OMAR

I have no idea as yet....will know by end of week....

adm_4

The Premier Direct is the thing that attracts the £50 referral though, no? If you get a simpler account for the regular saver you won't get the £50?!