A & L 12% Savings account

YorkshireBoy

Milarky wrote:

It is now 30th October and the first regular payment was due for collection on 28th. So far nothing has occurred. Can anyone confirm if they don't take payments over a w/e (as opposed to Mon to Fri)?

Hi Milarky,

I have the old 10% regular saver and my payment is made on the 5th of the month.

Only once since April has the 5th fallen on a weekend (Sat 5th August), and I can confirm that the payment shows as having been made on the following Monday, 7th August.

I don't have any standing orders on the account so can't help with your other query.

Milarky

Thanks I only meant that I assumed if A&L created a standing order on your behalf (which they claim to) then it might be expected to show as such on the account. But it doesn't that either. As I say A&L are so awful (they are advertising an 'improved' secure message feature 'coming soon' - well I've sent them a couple of secure messages from their very well hidden 'old' messaging facility and never had reply) and it is only the prompt payment £50 for account opening that prevents me complaining (but that it would do any good at this stage). Tongue well and truely lodged in cheek!

Milarky

Just an update to this: This morning (31st) the SO amount for £250 left the current account (can't see where to yet) but with a date of '28th October'. So I haven't had to contact A&L over this and am now quite a bit happier.

TraceyJ_2

I seem to have opened the wrong account, I have a Premier Direct instead of a Premier Current Account Guess this means I won't be able to get the 12% savings account. Has anyone else done this and had it successfully changed to the Premier Direct?

Thanks
Tracey

mleonard79

Hi Tracey,

It seems someone has managed to get it switched - not sure how easy it is though but if it is the Premier account you want then it's worth giving it a go. Read this thread (link posted below.)

http://forums.moneysavingexpert.com/showthread.html?t=295898

Regards

Michelle

TraceyJ_2

mleonard79 wrote:

Hi Tracey,

It seems someone has managed to get it switched - not sure how easy it is though but if it is the Premier account you want then it's worth giving it a go. Read this thread (link posted below.)

http://forums.moneysavingexpert.com/showthread.html?t=295898

Regards

Michelle

Thanks Michelle, just been comparing the rates and hadn't realised the current account interest rates varied so much. Need to calculate the difference in interest I guess before deciding if it's worth the effort of ringing them and having the money tied up.

Thanks for your advice.

bel2310

Ref the Alliance and Regular saver- I hold my hands up and admit I must have missed something in terms and conditions but would like to warn any others users of this account of my situation. I opened a reg saver , and set up £250 a month to go from my current account. Unfortunately due to a change in circumstances am now unable to pay in this amount. No problem I thought, will reduce the payments to the minimum of £25 per month. Have just spoken to A & L and apparently cannot do this, once you set up the s.o. you have to pay that amount for the full 12 months. I now have no option but to close the account. Oh well a lesson learned, hopefully no-one else will be as daft as me. At least I can move the 1500 in there to another savings account which will hopefully pay at least a reasonable interest rate.

stphnstevey

Has the 12% RS now ended as there is no big promotion of it on their website? Replaced by 7% ISA?

tom188

yes indeed

stphnstevey

Ohh well. The 7% ISA is market leading and over the same period would probaly yield at least as much interest as a RS.

Will close account when current RS matures and then re-open in 3 months and see what they have then