Using A&L debit card in branch

Milarky

molerat wrote:

Quote from the T&C's

If you hold a Premier Direct Current Account you will be unable to withdraw less than £250 cash per day at a Branch.

So if you withdraw more than £250 then fine but any less is a no no and always has been. It is why they pay a good interest rate on a current account ... lower operating costs.

A partial solution surely is to withdraw £250 (subject to available funds/overdraft) and pay back the unwanted difference (eg £200, leaving £50 for your use) as a same day over the counter deposit! This might bemuse staff in the branch but it shouldn't since it is a cranky condition anyway. I have Nationwide's Investdirect account which is 'postal only' and requires £250 min withdrawals. No problem. I just pay in £249 from my Flexaccount and withdraw £250 (but not in branch ATM only) to take out '£1'

Snoozehughes

So does anyone have this account, is it any good or any unforseen problems?

Essenchill

Snoozehughes wrote:

So does anyone have this account, is it any good or any unforseen problems?

I'm looking to do the exact same thing, HSBC current to A&L. Have you gone ahead and done it? Found anything else out?

mleonard79

Hi Snoozehughes,

I've had the Premier Direct account for nearly a year now and have had no problems with it or charges. I'd say it's the best current account around at the moment but it's always worth looking out for better deals just in case!!

Regards

Michelle

andyrules

Hi
I've had the A&L account now for several months, have no probs after a fairly slow transfer. It's good in that the minimum pay in pm is less than many (£500 as against £1000) Also, I got the £50 incentive, I think that's still running. You can link to a high interest savings too, which I believe is now 12%. I changed because of this site! Hope that's helpful.

ooglewoogle

Can anyone tell me how the depositing requirements work for this premier direct account? I have just not long opened one, and am still unsure what they expect of me regarding the crediting of £500 per month to the account.

Does this have to be at least one lump sum of £500 deposited per month? Does it factor in overdrafts etc (surely someone couldn't have a £500 overdraft and just withdraw and redeposit the money each month to meet requirements?).

And supposing this deposit amount isn't reached, does anyone know offhand what the *fees* are that may be applicable? I have had a quick squint at terms and conditions....but can't see it.

Many thanks
Glen

mleonard79

Hi ooglewoogle,

The fee for not meeting the £500 funding critieria is £5 per month. As for how and what you pay in it is fairly flexible and simple. As long as you pay in £500 (does not have to be one lump sum so you can pay it in in as many bits and pieces as you like if you want) during the month from any source other than another a&l account in your own name then you meet the criteria. I have paid in cash, cheques and transfers from other accounts I have at other banks. It does not have to be wages either so it is really very easy. Also the only requirement is that you pay it in, not that you keep it there for any minimum term so you could conceivably transfer it in one day and take it right back out the next.

Hope that explains it for you ok.

Regards

Michelle

YorkshireBoy

Glen,

If you are given an overdraft, you may also be given different funding requirements. See your T&C's or any other relevant paperwork they have sent you.


Edit: Heavily edited because Michelle beat me to it!!

mleonard79

Ah see Yboy - you've got to be fast in this game!! :rotfl:

I think between us we've answered his questions!!

Gordon_the_Moron

The conditions say no withdrawals over the counter of less than £250, just withdraw £250 then pay back the difference to get the amount you want. Bulls*** but it will work.