Best Current Accounts Discussion Area

bonzer

Something I don't understand with the lloyds account - it says on their website that you agree to:

set up a regular monthly payment of £1,000 or more through our Account Transfer Unit

Does that mean if you just pay in a thousand pounds from anywhere you won't get the £50? i.e. you must have their account transfer unit call up your work and transfer your salary?

Thank You

Bonzer

Chadsman

bonzer wrote:

Quote:
set up a regular monthly payment of £1,000 or more through our Account Transfer Unit

My reading of this is that you must have your salary (or pension or...) totalling at least £1000 per month paid into your account. The account transfer unit is just that part of LTSB that does the switch for customers.
If you said to LTSB 'I would rather contact my employer myself and organise the switch' they would probably still give you the £50 bonus. :beer:

Slimeball20

Hi everyone,

I currently have a cahoot current account paying 4% on all balances up to £250k.

If I get a chequebook to withdraw cash to start up a saving account, the rate drops to 3.9%.

I earn between £500 and £1000 a month.

I'm aware that A&L has the better interest rate (5% up to £2500) but I always have more than that in the account, roughly between £3000 and £5000.

Hence, I've stayed with cahoot. Can someone let me know how much better or worse off I would be with this typical account balance if I switched to Alliance & Leicester? Do they provide a chequebook with their Premier Direct current account. Couldn't see any mention of one on their site.

Many thanks.

grumbler

Slimeball20 wrote:

I'm aware that A&L has the better interest rate (5% up to £2500) but I always have more than that in the account, roughly between £3000 and £5000.

A&L have online saver accont that pays 5.15% untill 30/06/06, then 4.25% (max balance £25k). And now they are launching 10% regular saver (up to £250 p.m.).

Do they provide a chequebook with their Premier Direct current account.

Yes.

...if I switched to Alliance & Leicester...

Don't hurry to switch. Just open another account with A&L. And be prepared - such thing as CS does not exist in A&L.

macwise

I'm fed up with Halifax, I was with Bank of Scotland and then they merged with Halifax. Since then customer service standards have dropped to ridiculous levels and charges have increased as well. Phone banking is a nightmare, where I'm expected to remember about 28 digits per account and then remember a serial no for each account transfer set up, of which there are a possible 9 numbers. And we're not supposed to write any of this down?!

So I want to change banks but I'm worried this will affect my credit score. I've been with the same bank for 6 years and as credit applications always ask this question, I presume this affects your score. I rely on a good score to obtain new 0% int deals on credit cards to pay off my debts.

I hopw this is the right forum for this question?

grumbler

macwise wrote:

I've been with the same bank for 6 years and as credit applications always ask this question, I presume this affects your score.

You are right. Don't switch account. Open a new one and keep the old one. When asked you can always tell that you are with your bank for more than 6 years.

Ken68

Age limit on the 5% Alien and Lester a/c, still best for over 60's is Coventry Current a/c 5.75%.

Palm_2

I have changed from HSBC to Co-operative - mainly because I can use the post office now.
It was the stupidest thing I have ever done. Co-op lost original application, sent the new application to a different name at my address (Security!) telephone banking did not know about the complaints form, they missed one direct debit transfer so I got a charge and interest on my credit card and they have paid £60 into my account for 4 mistakes. I do not need this hassle from the bank that has apparently been awarded best buy etc. Now I am stuck as I do not want a repeat nightmare. Transfer took months from original application. Their £60 compensation will go to charity.

shuangg

Anyone here has an Alliance & Leicester premier account or is goign to open one soon?

I just opened my one

according to this link
http://www.alliance-leicester.co.uk/currentaccounts/index.asp?page=recommend-friend&ct=curracchome

if we fill in this form
http://www.alliance-leicester.co.uk/currentaccounts/ec09723.pdf
we can both get £50

please contact me @ shuangg@yahoo.com if you want to be my referrer or have me as your referrer if you are going to open one

Cheers
Sean

shuangg

>>>I'm aware that A&L has the better interest rate (5% up to 2500) but I always have more than that in the account, roughly between £3000 and £5000

I you alwasy have more than £2500 in you cahoot current account why don't you open an cahoot saving account and transfer some moeny into the saving account?