A&L Premier Direct CA - O/D interest & cash withdrawal queries

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
1 reply 576 views
firsttimestudentfirsttimestudent Forumite
401 Posts
edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
Hi there!

Just 2 quick questions:

a) Am I correct that it is free to use the Alliance & Leicester Premier Direct Current Account's overdraft (the one that pays 5%) in the first year of opening? (i.e. no interest, no fees at all). I can see there is no daily 50p charge, but there is no interest on top of that, am I right?

b) I can see there is a maximum of £500 withdrawal over the counter unless you provide instruction before that. Does this affect the amount you can withdraw through a LINK machine, i.e. is it £750 total a day, or just maximum £500?

Thanks for your kind help!

Replies

  • ses6jwgses6jwg Forumite
    5.4K Posts
    Tenth Anniversary 1,000 Posts Combo Breaker
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    0% OD for 12 months.

    After that it is 50p per day up to £5 per month however this will change very soon to be capped at £10 per month.

    You can withdraw up to £300 from an ATM per day.

    £500 limit over the counter is just because most branches are small and don't carry a large amount of cash. If you visit a larger branch with a card from another bank/ driving license they may let you have more the only way is to visit the branch and ask normally it is 24-48 hours notice. for over £1k.
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