A&L Direct ISA Issue 2 rate increased

Kazza242

A&L have increased their Direct ISA (issue 2) rate to 5.00%, w.e.f 2nd February 2007. See here.

Those savers who opened this ISA on or before April 12th 2006 will see their ISA rate increase from 5.45% to 5.70% (because of a 0.70% bonus).

A&L have also increased their Direct Saver to 5.80% AER, also w.e.f. 2/2/2007. See here.

humfer

Kazza242 wrote:

A&L have increased their Direct ISA (issue 2) rate to 5.00%, w.e.f 2nd February 2007. See here.

Those savers who opened this ISA on or before April 12th 2006 will see their ISA rate increase from 5.45% to 5.70% (because of a 0.70% bonus).

A&L have also increased their Direct Saver to 5.80% AER, also w.e.f. 2/2/2007. See here.

Oh 5.70% sounds very very good to me!! Your quote about applying to accounts opened on or before 12th April 2006 interests. Cannot remember when mine was opened. Do the have the 'applies to account starting with' bit of information as well so I can check to see if this applies to me or not? I do receive the 0.70% bonus so hopefully I should be ok

masonic

humfer wrote:

Do the have the 'applies to account starting with' bit of information as well so I can check to see if this applies to me or not? I do receive the 0.70% bonus so hopefully I should be ok

Can you add 0.70% to 5.00%?

Kazza242

humfer wrote:

Your quote about applying to accounts opened on or before 12th April 2006 interests. Cannot remember when mine was opened. Do the have the 'applies to account starting with' bit of information as well so I can check to see if this applies to me or not?

The new 5.70% rate applies to A&L Direct ISA (issue 2) accounts beginning with 607 and 608. See here. A&L will update the rates shown on their website on Friday.

If you are receiving the 0.70% bonus, then you will be getting an overall rate of 5.70%. Therefore, you must have an account beginning 607 or 608.

MiserlyMartin

Blimey, good news! I didn't think they were going to do that. Still there will be a mass exdodus when the bonus runs out though.

alecpr

Anyone not fortunate enought to be on those ISA accounts get no increase I guess?

I have an Issue 1 ISA which was .25% below the best accounts, but now I can get over half a percent more by switching. Guess they won't be keeping my business anymore. YBS here I come :-)

humfer

Is this still definately happening? Just been to their website and it mentions nothing. There corporate site just talks about offshore account rate rises. Also I read on thisismoney that the 'popular ISA' would remain unchanged, although I'm not sure if that meant Issue 2 or not. Any clarification would be appreciated

IGNORE THAT
Just called and they have confirmed its definately gone up to 5.00% which becomes 5.70% with the bonus. Sorry for the confusion. They reckon the website should be updated by the end of the day

Kazza242

humfer wrote:

IGNORE THAT
Just called and they have confirmed its definately gone up to 5.00% which becomes 5.70% with the bonus. Sorry for the confusion. They reckon the website should be updated by the end of the day

An A&L personal banker told me exactly the same thing as you when I visited my local A&L branch earlier today. They said that the update to the website would take place tomorrow. Moneyfacts are correct the Direct Isa issue 2 has gone up to 5.00% (5.70% for 0.70% bonus customers).

Kazza242

A&L updated their website today. The new Direct ISA issue 2 rate, for accounts beginning 607 and 608 is 5.70%.

Check out this link, here.

rangers_fc

most mischuffed about this, as I hold a issue 1 ISA with A&L I have subscribed this years, and last years allowance, so I guess its time to pack up the old kit bag and move on to a more competitive rate. How do you go about transferring your ISA from 1 provider to another, from A&L to The Yorkshire for example are there any penalty clauses

Kazza242

rangers_fc wrote:

How do you go about transferring your ISA from 1 provider to another, from A&L to The Yorkshire for example are there any penalty clauses

Check out THIS thread on transferring from A&L to YBS. It contains some very useful information.

I seem to recall that A&L dropped the issue 1 transfer out penalty which used to be £25. I'd recommend checking with them.