A&L Direct Saver Withdrawal

Beate

But at least they have increased it by 0.3% while the base rate has only gone up by 0.25%, so they have added a bit more space between them and the HSBC Online Saver (which is a respectable 6% now).

[Deleted User]

I've noticed on the A&L site that the Online Saver Issue 2 account has gone upto 5% AER for £1+ but when I enter the first 3 digits of account number in their rates checker it still shows up as 4.90%. I wish they wouldn't miss pages out while updating them. :rolleyes:

McSaver

debbie42 wrote: »

I've got a direct saver, where the interest isn't applied for the withdrawal month. It's currently 5.8%, and I was thinking of moving it to the icesave 5.95%, long term.

Question is: when would this be worth it, and is there a "best time" to withdraw from the A&L?

the best time to withdraw from a account that penalises you for withdrawing with without paying interest for the rest of the month is they day you recieve your monthly interest payment. hence you would lose nothing.

another tip is that its only really worth moving from one account to another if your gaining around 0.4% net (0.5 gross) extra in interest because of the time it takes to shift money (up to a week).

magpiejay

i think they also have a limit to the amount you can withdraw online without authorisation (i cant remember exactly how much, but it's something around the £20k mark). Having said that, authorisation is just a phone call, but still, it's annoying.