Alliance and Leicester £50 offer.

lynsiloo

I see A&L have brought back their '£50 refer a friend' offer on their current account. It says on their website that a minimum monthly funding of £500 is required. Does anyone know how long you need to keep funding the account? Can you do it just once to get the £50 then put in a lesser amount each month. I want to recommend my girlfriend but she is not in a position to put £500 each month into the account. Could I just put the initial £500 in for her, wait for the £50 to be credited, then remove the £500? If anyone has any experience with this I would welcome hearing it.:rolleyes:

YorkshireBoy

The account has to be funded with a minimum of £500 per month, commencing within 8 weeks of opening the account.

The £50 will be paid within 8 weeks of the account being correctly funded.

The upshot is that it could be 16 weeks before you see your £50. You can reduce this by getting your initial £500 in quickly. In practice (in my experience anyway), referrals are being paid out very quickly - I had one paid out before my referree had even made their first deposit!

If you don't meet the account funding requirements, they make a £5 underfunding charge to the account.

liz.._4

If you take advantage of the free overdraft facility I was told by the guy that I wouldn't get charged £5, is this right?