Alliance & Leicester v HSBC

lynseydee

I have an A&L account which I opened when they had their attractive interest rate etc but decided to no longer use it and revert back to my account with the HSBC. Since having my lightbulb moment with regards to my debts am now looking at all the ways I can save and make money. A&L at the moment I have noticed are offering a free overdraft for 12 months and 6.1% interest. I was hoping that if I talked to the A&L they would let me have this offer on my account with them. My problem is that I get paid on the last Thursday of every month and transfer all our bills money to mine and my husband's joint account with the HSBC. At the moment when I do this it is transferred there and then as the accounts are with HSBC but if I had my salary paid into A&L it would take a few days to be transferred to the HSBC account which doesn't help as sometimes I get paid the day before our bills are due. Apart from transferring everything from HSBC to A&L (which would mean my husband having to do this aswell) or changing our dd dates as there are quite a few, is there anyway we can get around this. Unfortunately, I don't really have a surplus amount of cash left in my account after the bills have been paid as any spare cash I want to throw at my debts. I know this sounds like a huge task I thought someone here might be able to come up with some answers.

Thanks in advance.

grade15

I think that you can use A&L transfer bank account.. ! THEY do all the work..
with all the dd..3rd week in, u fill a form of which ones that you want to transfer..and once that is done..those companies will send you a letter saying that they have your new bank details..anything wrong..call them..then call them about changing dates of payment!

lynseydee

Would they do that though if the account is already open as I know HSBC wouldn't when I reverted back. Ideally, I was trying to avoid the route of ringing around to change all the dds. May have to do this if there is no other way.

gt94sss2

lynseydee wrote:

A&L at the moment I have noticed are offering a free overdraft for 12 months and 6.1% interest. I was hoping that if I talked to the A&L they would let me have this offer on my account with them.

A&L won't even let new customers who open one of the 6.1% current accounts open a regular saver with them.. so call it a hunch but I can't see A&L being very willing to do this. Now if you closed your A&L account and reopened it after 3 months as a new account than yes, but otherwise...

Regards
Sunil

lynseydee

Thanks Sunil. Maybe I'll give it a try and if they say no close the account and then re-open another account with them.