Has anybody got an A&L Direct Isa Issue 2 Account?

stuzhunter

I opened this account in February 2006. Can anybody confirm whether the current Annual Gross interest rate is 5.70% or 5.0% ( as accounts opened from 09/01/06 to 11/04/06 get a bonus of 0.70% but payable to 30/04/07).

Baldur

The interest depends on your account number, according to their closed account interest rates page http://www.alliance-leicester.co.uk/savings/index.asp?page=closed-rates - there is no information about whether they actually ceased the 0.70% bonus on 30th April but I have already started the process of transferring mine to Abbey's Direct Saver at 5.75% variable (balances over £9,000), just in case.

haselden

I rang A & L and switched my funds into their Direct ISA Issue 3
currently paying 5.4%. I wanted to wait and see what was on
offer following Thursday's BOE rate rise.

Transferring can be a pain, and I want to make sure I choose an
account that I feel confident in till 2008......... hopefully !!

anniecave

As far as I am aware the bonus only went up to 30 April so it will be 5.00%. I opened mine similar time to you and I have just closed it and moved the money elsewhere.

If you are doing a transfer out, ask your new provider to set up an account for you, then phone up A&L yourself and ask them to transfer the funds to your new provider quoting your new account number with the new provider. A&L Direct ISA don't accept transfers out by the usual postal method of the new provider sending the transfer authority that you've signed to A&L. It seems to be a feature of the Direct ISA!

meanmachine_2

stuzhunter wrote: »

I opened this account in February 2006. Can anybody confirm whether the current Annual Gross interest rate is 5.70% or 5.0% ( as accounts opened from 09/01/06 to 11/04/06 get a bonus of 0.70% but payable to 30/04/07).

Alliance are notorious for bamboozling people with their myriad of rates - bonuses, closed rates, new rates, blah blah.

Issue 2 is currently 5%

If you don't want the hassle of moving out, set up an issue 3 (currently 5.4%, but that *should* go up soon), then when it's added to your online account, phone A&L, press 9, speak to an advisor and get them to transfer.

It's very simple.

stuzhunter

Thank you all for your responses. I'll be transfering out then.