Downgrading A&L account

debbie42

I opened an A&L premier direct current account in November, and got a £50 referral. I'm not using it as my main account at the moment, so putting the £500 in to avoid the charge is a bit of a pain. Would it be possible to downgrade the account to an "ordinary" current account without losing the referral? I can't find any mention of an ordinary account on their web site, but from what I've read here, it's just a case of ringing them and letting them know I want to change?

Thanks,

masonic

Yes, or you could close it.

Sillychuckie

I phone up to close mine because I didn't fancy paying in the £500 anymore.
They said:

"Sir, we have a good deal available where you can leave the account open without paying any money into it, and it will only cost you £5 per month".
Thanks, but no thanks. Close or downgrade, all A&L accounts become absolute rubbish after the first year anyway. They love their 'brand new customers only'.

masonic

Sillychuckie wrote:

"Sir, we have a good deal available where you can leave the account open without paying any money into it, and it will only cost you £5 per month".

:rotfl: Isn't that just what happens anyway if you don't pay in your £500?

debbie42

Thanks for the replies. I'd like to leave the account open, so will downgrade, just wanted to check the referral wouldn't be clawed back. Also, still can't find any details of the non-premier account on their website. They don't exactly push it, do they?

masonic

debbie42 wrote:

Also, still can't find any details of the non-premier account on their website. They don't exactly push it, do they?

You will soon be able to see why...

http://www.alliance-leicester.co.uk/currentaccounts/index.asp?page=all-rates&RateTable=curracc&ct=curraccrates

• Zero interest paid on credit balances
  
• Overdrafts at 17% EAR

lipidicman

Thinking about doing this myself, will they do this in branch (getting a Halifax CA as my new 'second account')

buses7675

Hi All,

Is there anything to stop you once you get your bonus (or after the better interest rate runs out just over a year after you open it) from closing the Permier Direct and opening another almost straight away?

I know if you want the ordinary Premier (with the 7% ISA) you need to wait 3 months inbetween, but if you are just attempting to get a better rate on your account would this work?

Cheers

Steve

masonic

buses7675 wrote:

Is there anything to stop you once you get your bonus (or after the better interest rate runs out just over a year after you open it) from closing the Permier Direct and opening another almost straight away?

If you wanted to open another Premier Direct account, you would have to wait 3 months, but you could open a Premier account (albeit without the 7% ISA) straight away.