Alliance & Leicester Current Account - Underfunding fees

codetown

Hi all,
years ago opened the A&L Premier Account.

I have kept it going but lately have used it less and less.
I have now noticed some 'underfunding fees' of 5£ applied for the last few months.

a) have no interest in keepng this account. Is there a no-fee account from A&L? (no fee and no funding required)? Is there a way to get these fees refunded?

b) I also have a couple of savings accounts with them (Online Saver Issue 7 and an old Direct Saver). Can I just keep the saving accounts and close down the Premier?

c) I also use the Internet access. Will keep it as is also without the Premier Account?

Thanks

adindas

Dear codetown
I also have premier direct a/c I have not heard about 'undefunding fee' could you please let us weblink where we could find this info

thank you
ADINDAS

codetown wrote: »

Hi all,
years ago opened the A&L Premier Account.

I have kept it going but lately have used it less and less.
I have now noticed some 'underfunding fees' of 5£ applied for the last few months.

a) have no interest in keepng this account. Is there a no-fee account from A&L? (no fee and no funding required)? Is there a way to get these fees refunded?

b) I also have a couple of savings accounts with them (Online Saver Issue 7 and an old Direct Saver). Can I just keep the saving accounts and close down the Premier?

c) I also use the Internet access. Will keep it as is also without the Premier Account?

Thanks

noh

adindas wrote: »

Dear codetown
I also have premier direct a/c I have not heard about 'undefunding fee' could you please let us weblink where we could find this info

thank you
ADINDAS

http://www.alliance-leicester.co.uk/customer-service/pdfs/curr-acc-guide-to-fees.pdf

Sceptic001

Thanks, noh, that is very sneaky of A&L. I converted my (practically dormant) current account to a Premier Direct account to take advantage of the interest rate offer and had not spotted the "underfunding" trap. I wonder if it is possible to revert back to a non-Premier current account?

Mee

I think you'll find that the underfunding clause has been in the T&Cs for the premier direct a/c for sometime. On the two occasions I've signed up for said a/c I've seen it in the T&Cs. Hence I have a standing order going in and one going out of the PD a/c once the offer is over and I'm still deliberating what to do with it...

adindas

Thank you Noh

noh wrote: »

http://www.alliance-leicester.co.uk/customer-service/pdfs/curr-acc-guide-to-fees.pdf

codetown

what about my (above) questions?
Does anyone know if you can have a savings account (and the online access to transer funds) with A&L without any current account?

I am totally unhappy to keep an account where they charge me, but would like to keep the savings part...

Gordon_the_Moron

In answer to the question of whether you get online access with just a savings account, simply I don't know, as I do have a current account too.

If not two other solutions:

1. I believe they do a basic current account with no benefits attached that does not require funding any amount, if you don't use it ask them if you can change to that and leave it empty.

2. Standing order to pay £500 in each month, then just pay it straight back out again.

adindas

Dear Codetown
I was not aware any saving a/c that will allow you to transfer money to other bank or do SO, DD, etc. I remember that Martin Artive has confirmed this.

You need to move it first to your curret a/c ,,,

But if anyone know, it will be great. I am aware about Lloyds TSB vantage a/c that will function like saving a/c

ADINDAS

codetown wrote: »

what about my (above) questions?
Does anyone know if you can have a savings account (and the online access to transer funds) with A&L without any current account?

I am totally unhappy to keep an account where they charge me, but would like to keep the savings part...

Gordon_the_Moron

If you think it can't be done, I earn on average £1100 per month at the moment from the job I do (that is not something I intend to do for too long but its a job !!!)

However most months I earn between £900 and £1000 because I am paid four weekly (so get it in 13 pay packets a year not 12, so get paid twice in one month each year) I also get bonues in April and December which up the average but not the amount I earn each pay packet.

I have a Halifax reward current account paying me £5 per month for funding £1000

I have a Nationwide current account giving me free travel insurance for funding £750 per month

I have an Alliance and Leicester current account requiring £500 minimum funding per month, I meet all 3 requirements without earning £1000 most months.

YorkshireBoy

codetown wrote: »

Does anyone know if you can have a savings account (and the online access to transer funds) with A&L without any current account?

Yes you can, but there may be problems if the A&L current account is the 'nominated' account for savings account transfers. Is it?