alliance and leicester

lipidicman

Is this offer on now? I have a A&L online saver (the 5.35% one, if I dont have the name right). Can I just log in and request one?

edit: I had a look and it seems not - you go through the normal applications procedure. I notice you have to fund £1000 a month - can this be by standing order from elsewhere and if so what happens if you stop it after a month - do you keep the £20? The way the account is advertised ie

5.00% AER (fixed until 31/12/05)1on balances up to £2,500. This offer is available subject to availability

If you are 21 or over, can pay in at least £1,000 per month and use Internet Banking regularly you will also benefit from:

* 0% overdraft for 12 months from account opening, 7.9% EAR typical (variable) thereafter2
* FREE annual worldwide travel insurance currently worth up to £80 (upper age limit 65 applies)3
* 0.1% AER (variable) on balances over £2,500
* £20 if you apply online4


makes it sound like the £1000 is to get the extras, not the account. Anyone?

HugoRune_2

I think its the other way round, the £20 is for opening the account. I have got my £20 without transferring anything, not it says "can pay ..." not "will pay...."

TREVORCOLMAN

HugoRune wrote:

I've just opened my account with them and got the free 20 quid, cheers Martin.
You dont have to switch any direct debits to get the account, the literature they send you is a bit misleading and suggests you do have to.
Does anyone know the free overdraft details on this account? I'd like to make some more money out of them as the swines refused my credit card application!

You just ring them and ask for the overdraft. 08459 26 26 26. I did it last week and got details sent to me in a few days. The have not given me the max of £2.5k but anything is better than nowt!

TREVORCOLMAN

Its 0% for 12 months but PLEASE make sure you are in credit BEFORE the 12 months are up!

boybeck

I've just applied for the Alliance and Leicester Premier Plus Current Account because I normally spend £50 on annual travel insurance. This is a great deal and is saving me a nice amount of money each year for little effort. With the £20 opening offer I'm very happy. Hopefully the Direct Debits will transfer smoothly from Cahoot.

MarkyMarkD

Lipidic and Hugo, it's not how you put it.

The account is conditional on crediting the £1,000 a month - not just the benefits. If you open an account and fail to fund it, you will be charged £5 a month for the benefits after a warning letter or two.

Premier Plus terms and conditions (PDF format) state:

"If you fail to pay the required minimum monthly credit into your account, the monthly charge set out in the Interest Rates and Charges guide will be applied".

The £5 fee is listed here.

lipidicman

Thought it was - its just the blurb that is a little misleading!

HugoRune_2

Thanks Marky
Though I'm not sure what would stop you closing the account once your £20 was in(perhaps you need to make one minimum payment?), though you'd lose the travel insurance of course which would be quite nice to keep.

lipidicman

I had one before, and you do indeed lose the insurance when you close (the reason: they were rubbish, wrong title on my card, never answering the phone, well longer than I was prepared to wait!) but there was no penalty back then (18 months ago)

MarkyMarkD

I don't personally think it's worth the hassle to open an unnecessary current account for the sake of £20 (not to mention the wastage and environmental cost of unnecessary cheque books/cards/etc) but each to their own.

And yes, I understand that the charging has been tightened up for people who don't fund their accounts.