A&L 5.38% Direct Saver

lipidicman

MSE_Martin wrote:

I will find out the answer and add it to the article today about what exactly a month means - its a very good question!

Martin, I am waiting to make my transfer! Any News?

ReportInvestor

Maybe the answer is so awful that it's going to be a news story in the weekend press for MSE?

whambamboo

MSE_Martin wrote:

I will find out the answer and add it to the article today about what exactly a month means - its a very good question!

it would be a good idea to note this uncertainty in the mean time in th e article.

lipidicman

Well, that is why I am waiting.

Former_MSE_Dan

Hi folks,

Just got confirmation from A&L that they treat months as traditional calendar months.

To clarify, If you withdraw your balance on the 30th of November, you will earn no interest for November. However, if you withdraw your cash on the 1st December, you will get November's interest (but obviously none for December )

The article will be updated very shortly, just letting you guys know first.

Dan

lipidicman

Excellent news.
So we can use this account and be clever about when we make our (entire balance) withdrawals.
I will be keeping my Online Saver as a shelter for any month that I need to access the money

purplegirly

Hi,

As an indicator of timings, heres my experience.

I applied online and received an email straight away confirming they would need further proof of identity.

Received the letter with all the details the next day.

I sent back my proof of identity to open this account on 31/10 and just called to find out what was happening, they advised me that they are currently working on ones recieved on the 26/10, so to bear with them for a few more days and it should be open.

Have been very impressed with the customer service I have received so far in my dealings with them, I went into a branch to get my ID certified and the chap behind the counter was very friendly and efficient as was the lady I just spoke to on the phone.

Hopefully this will continue!

lipidicman

Right, need to wait until monday! Why?
I need to do Online Saver>>A&L Current Account>>Direct Saver

However I have heard of problems whereby they reverse the order of payments and seeing my CA go tens of thousands into an unauthorised overdraft makes me panic. I have heard of cases where they delay the Savings>>CA until the next day, then the OD is real!!
So I will do the first stage on Monday and the second on Tuesday

tonyg_2

MSE_Dan wrote:

Hi folks,

Just got confirmation from A&L that they treat months as traditional calendar months.

To clarify, If you withdraw your balance on the 30th of November, you will earn no interest for November. However, if you withdraw your cash on the 1st December, you will get November's interest (but obviously none for December )

The article will be updated very shortly, just letting you guys know first.

Dan

I just phoned them up and they said - if you make any withdrawal you always lose a months interest. Totally confused!

ReportInvestor

What phone number did you use?

Was it available to non-A&L customers or did you have to access a customer number?