A&L 10% Regular Saver Interest early?

lipidicman

It shouldn't, though I might have to do some calculations to satisfy myself of that!

mary

Some interest was added to the account on 1st November, but my final payment of £250 was transferred on 1st December. Just waiting for it to mature on 3rd January and then get my hands on the money. It now says £3,091.23 at present.

lipidicman

Right, when this is gone, I guess its a yorkshire to soak up the money from this and the expired B&B xmas

6.5% only, but £500 a month
(Already have Lloyds, Abbey and Halifax)

mary

So £3,000 + £1,500 + interest gives a good headstart towards the YBS. Where do you keep yours in the interim? My current account is with Lloyds using the online saver over weekends, but any surplus is with Coventry First at 5.65% (that's my holding pot for now).

ctdctd

mary wrote:

So £3,000 + £1,500 + interest gives a good headstart towards the YBS. Where do you keep yours in the interim? My current account is with Lloyds using the online saver over weekends, but any surplus is with Coventry First at 5.65% (that's my holding pot for now).

Why at weekends?

mary

sometimes you need to have money in your current account to feed a regular saver on a Monday, so transfer the money during the previous week, when it arrives put it into your Online Saver on a Friday (or as soon as it hits the current account) and leave it there until early Sunday morning and it will have the benefit of having the Online Saver rate over the weekend rather than lingering in a pitiful current account over the weekend. Lloyds payments for a Monday usually go out Sunday afternoon, so make sure to transfer in the morning, so as not to get caught out.

ctdctd

mary wrote:

When it arrives put it into your Online Saver on a Friday (or as soon as it hits the current account) and leave it there until early Sunday morning and it will have the benefit of having the Online Saver rate over the weekend rather than lingering in a pitiful current account over the weekend.

Ah, that explains it:-) Sounds a little complicated for the 5p or so it might earn over the two days, but they do say "look afer the pennies.........".

charlieboycat

charlieboycat wrote:

Like others, my wife and I had interest credited on 1 November, although not due until anniversarys of first deposits. Also had letters confirming projected balances on closures - which were caveated with "assuming all 12 payments are made".

In my case the 11th payment due on 10 November was made by A&L as usual. However, my wife's 10 November payment (which would/should have been her 12th) was not transferred from her Premier Direct account. I only noticed this today and am still waiting for an answer from A&L.

Has anyone else had the same experience? I shall be most unimpressed if A&L penalise my wife for not having made the 12th payment when it was their failure to make the transfer from her Premier direct account.

Update: A&L have responded by agreeing that it was their computer(programmer)'s mistake and making the missing transfer - albeit 26 days late. So long as they pay my wife the full 10% on what's been in the Regular Saver I doubt she will complain about the lost 89p of extra interest.