Using A&L debit card in branch

mleonard79

Yes Gordon this is true - I always forget about this condition because I never bother to withdraw cash in branch but for some people it's useful info! I guess it's all to do with the fact that you're getting a better current account and the reason for this is lower running costs so they don't want us clogging up counter staff's time but it is a little petty. Still easy to get around as you describe

Regards

Michelle

Nony_2

I wanted to change to A&L but the £500 per month minimum monthly payment is just a little more than my Widow's Pension plus Pension Credit that I receive. Shame, as the advantages of this account would make quite a difference to my spending power!
I wonder if they will raise the limit when Pensions go up (ha ha!) in April?

Actually, it will be years before Pensions increase enough to bring my income up to £500 a month, won't it? :rotfl:

Rafter

As previously noted this is all about cost.

Machines don't get paid salary, pension, sickpay, maternity benefits etc.

Sure, counter staff in banks only get a salary of about £12k a year but a cash withdrawl over the counter still costs the bank about £1 compared to pennies for the same transaction at a machine.

Question is, if you were charged £1 would you be happy to pay it? If so tell A&L as much. If not, would £1 be enough to get you to overcome your anxiety about using a machine, even one in a branch.

I'm not unsympathetic, but expecting to get great rates of interest and be able to use expensive channels to operate your account, such as counter cash withdrawls are incompatible - you can't have both.

As for these minimum payment conditions, it is a shame that Nony is excluded. The whole reason is that they are trying to stop people using it as a savings account and not transferring their whole banking service to A&L. A&L will make money from every transaction, DD for example and need this to pay for running the account and paying decent interest rates.

I'd rather they said that you just had to transfer your primary income (ie pension) and direct debts to qualify, rather than imposing artificial limits.

R.

Dazzaal

Snoozehughes wrote:

Thats good news thanks.

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

Just closed my account when I opened it with £26000 I asked for the best account to get most interest but wasn't told they only pay interest on the first£2500 when I complained they quoted the small print but I argued it was a verbal contract -made no difference, I also had other problems see my other post.

Gordon_the_Moron

Sorry I don't feel sorry for you if you don't read the smallprint of an account you open. Never ever ever open any financial account without reading all the conditions.

Nony wrote:

I wanted to change to A&L but the £500 per month minimum monthly payment is just a little more than my Widow's Pension plus Pension Credit that I receive. Shame, as the advantages of this account would make quite a difference to my spending power!
I wonder if they will raise the limit when Pensions go up (ha ha!) in April?

Actually, it will be years before Pensions increase enough to bring my income up to £500 a month, won't it? :rotfl:

CHEAT!

Pay your money into it, withdraw it and re-deposit it, even if you don't live near a branch you can pay money into the account by BACS or at a Post Office.

Gordon_the_Moron

Also if you go into branch and withdraw £250 per time then re-deposit part of it you are actually working towards this. If you get paid £400 per month, then withdraw £250 and re-deposit £200 you have technically made £600 worth of deposits that month.