Best Current Accounts Discussion Area

jo_b_2

charlie.potter wrote:

Hi there,

i'm knew to these forums though i've been reading the newsletter for a while now.
I have and Alliance & Leicester account but no-one to recommend it to. Is there anyone here who would i could refer so that we can both earn £50?

i aslo have a Smile account and they are doing a similar thing (but for £25) if anyone's interested!

let me know
cheers
Charlie

Hi Charlie.

Welcome to the boards and congrats on your first post.

Referrals such as this one need to go on the Referrers' Board [url=http://forums.moneysavingexpert.com/forumdisplay.html?s=&daysprune=-1&f=42]HERE[/url]

There is already a thread on there with people offering 'recommend a friend' deals, so you could add your name to the list and hope somebody takes you up on the offer.

AuntyJean

I am with First Direct for my main bank and transfer into their Savings Account any monies over and above the bills going out (not much I can assure you).

Now, I need to open a separate account which I will use when I buy my husband out of the house we jointly own and which I intend to let out. This account will be used solely for the income and outgoings associated with that house (to keep things 'tidy' for tax purposes).

So, I don't really want to close my FD account.

FD also stipulate that income of £1,000 or more must be paid into the account every month.

Would it be possible to set up an A&L Premier Plus account then set up a standing order on my FD account to pay £1,000 into the A&L account and then a standing order in the A&L account to pay the £1,000 back into my FD account (keeping enough in the FD account to cover the standing orders in between transfers)? Or, would A&L expect my wages to be paid into their account?

PS have just noticed FD offering an e-savings account at 5.20% AER. Would this be a better option as I am already with them?

margaretclare

Hi Aunty Jean

I don't think you'll get better than 5.20% and you can get this at your present bank. With transfers between accounts with the same bank it goes through instantaneously, with another bank there is all the hassle of opening, more paperwork, another set of people to deal with, A&L's advetising leaflets with every postal statement....

Me, I'm all for simplification and less hassle.

Aunty Margaret

paul_markland

Despite the many benefits this account has I have just discovered one negative which no other bank i use operates this way.

My Wife & I recently opened a Premier Plus A/c and have had no complaints until recently ......Being self-employed Cash flow can occasionally be a bit tight As my wife is also on maternity at the moment this has also had an impact, last month my wife & i realised that there was not enough funds to pay the mortgage due on the following day, so first thing my wife went to the building society and withdrew cash and subsequently paid it into the A & L account, We even telephoned them to advise them that we had done this.
Yet they still returned the direct debit with a subsequent £34 charge ( and £20 from the mortgage provider) when we questioned this there explanation was that they apply debits to an account before any credits and although we had paid in ample cash (£1000)first thing this was not 'logged' till close of business

Whilst i realise that the fault is mine, no other bank i deal with including my business banking operates in this way, and their inflexibility in this matter has now caused us to close the A/c

AuntyJean

paul_markland wrote:

Despite the many benefits this account has I have just discovered one negative which no other bank i use operates this way.

......they apply debits to an account before any credits and although we had paid in ample cash (£1000)first thing this was not 'logged' till close of business

Whilst i realise that the fault is mine, no other bank i deal with including my business banking operates in this way, and their inflexibility in this matter has now caused us to close the A/c

We once had a joint account with them and exactly the same happened to us. My partner withdrew £20 from a cashpoint at 10pm. It allowed him to do so but at midnight they applied the interest deduction for the agreed overdraft which was £3 something and this took us over the agreed overdraft. They then charged us £30 even though wages were credited to the account the next day.

Their excuse was that we had a bank statement showing what would be deducted so we should have allowed for this. My other half thought that the charges had already been taken that day so withdrew the monies in all innocence. We closed our account and went to the Halifax who did NOT apply charges when a similar situation occurred.

horace_2

I have not read any posts on this thread so if I duplicate previous contributions sorry.

Lloyds TSB have refused to pay me a £50 joining incentive for opening a Classic Plus Account.

My account`s first transaction was a credit of £25,850.00 on 14.04.2005 (a Lloyds 1 year bond which had matured)
The T+C`S when I completed my application form required that

1) I make a minimum monthly credit of £1000 pcm
2) register for internet banking and
3) log on to internet banking at least 3 times every 3 months.

After e-mails and telephone calls to my local branch they agreed this morning to `exceptionally` pay the incentive. This proved short lived when at 4.45 this afternoon they said they would not pay an incentive because I had not transferred my HSBC account.

A current account transfer is, I understand, now a condition for new applicants but it was not so when I applied. Despite my protests they are not willing to budge.
I will not close my Lloyds TSB account. I intend to withdraw all funds save £1
and let them continue to issue paper statements. This I hope will cost them a lot of money until the day I die.

koru

In reply to Horace:

It is wrong of Lloyds to move the goalposts after you signed up, although to be fair I think it was always clear that they expected you to make them your main account, even if they did not make it an explicit condition.

But out of interest, why not move your account from HSBC? The interest rate at Lloyds is much better.

AuntyJean

horace wrote:

II will not close my Lloyds TSB account. I intend to withdraw all funds save £1
and let them continue to issue paper statements. This I hope will cost them a lot of money until the day I die.

We did this with A&L and after a few months when they realised we were not using the account, wrote to us saying unless they heard from us to the contrary they would assume the account was closed. We then had to ring and ask for a cheque for our £1.

grumbler

horace wrote:

Lloyds TSB have refused to pay me a £50 joining incentive for opening a Classic Plus Account.

My account`s first transaction was a credit of £25,850.00 on 14.04.2005 (a Lloyds 1 year bond which had matured)
The T+C`S when I completed my application form required that

1) I make a minimum monthly credit of £1000 pcm
2) register for internet banking and
3) log on to internet banking at least 3 times every 3 months....

It is clear that monthly credit means regular credit. In your case it was too obvious that your credit is not regular... This was your mistake.

Read also my posts #5(03/03) and #14(07/03) in this thread.

horace_2

>> grumbler

Thanks for your comments. I should have mentioned that I set up a standing order of £1100 pcm from my A+L account which then returns to the A+L about 10 days later.

I have followed the T/C`s to the letter but Lloyds TSB has not.