Changing my current account.

Indispensable_Hobbes

After reading about the A&L Premier Direct Current Account :
6.10% AER (fixed until 31.12.07)1 on balances up to £2,500,
0.10% AER (variable) on balances over £2,500
After 31.12.07 account reverts to Bank of England Base Rate less 1%

It seems a little silly to stick with First Direct, which, as far as i know is :
AER(1) 2.00%
Gross(2)% p.a. 1.98%
Net(2)% p.a. 1.58%
(If you do not credit your account each month with at least £1000 or maintain a minimum balance of £1000, the credit interest rate payable on your credit balances will be 0.10% AER (0.10% Gross p.a. and 0.08% Net p.a.). Monthly refers to the period covered by your monthly statement charging period which is usually the same as your monthly statement period.)

I have an A&L Isa will this effect the rate i could get?
Anyone got any pearls of wisdom for me?

YorkshireBoy

jenyking wrote:

I have an A&L Isa will this effect the rate i could get?

Not sure what you mean by "the rate"? If you're accepted, you'll get the rates advertised on the website.

Anyone got any pearls of wisdom for me?

In my experience, A&L generally launch their current account products with around 15 months of benefits. Since you'd only get 12 months on this product, you might want to wait and see what the New Year brings. That said, they could go back to paying only 5% (as they did prior to September 2006) or worse!!! It's your call.

If you decide to apply, don't forget to get yourself referred - visit the referrers board for more information.

Indispensable_Hobbes

YorkshireBoy wrote:

Not sure what you mean by "the rate"? If you're accepted, you'll get the rates advertised on the website.

I thought perhaps that as a current customer of a savings account they might not apply that rate or is that only applicble with current, current account holders... il have a look at referrers