A & L Premier Direct- couple of questions

tasty_snacks

i have just opened a premier direct account for my partner, and we are about to start funding it. it came with a £500 overdraft, and i was wondering whether it would be ok to meet the minimum £500 monthly credit by utilising the overdraft. i.e. i would withdraw £250 from the atm, then put it straight back into the account in cash. do this twice, and the minimum funding requirement has been met.

i've read the ts & cs, and can't see anything that says i have to put the account into credit before drawing on the overdraft. the closest prohibition is that you cannot use another a & l account to meet the minimum £500.

has anyone else done this?

also, i attempted to open the same account at christmas myself but was declined, and opened just a basic bank account with them instead. i will be reapplying shortly- so can i use my partner's account to recommend myself, hence bagging the referral bonuses? again, the ts & cs only mention that the recommended user cannot have been an alliance and leicester premier direct account holder within the last 3 months- nothing about existing customers with other account types. or would it be more prudent to just close my account and wait a few months before using the recommendation scheme?

mleonard79

Hi Tasty-snacks,

There is nothing to stop you from utilising the overdraft to meet the monthly funding requirements as you've described above.

As far as your opening the account to get the incentive goes you cannot have held a Premier or Premier Direct Account in the preceding 3 months so technically you are eligible only having a basic account. I would personally still close it before applying just to be on the safe side but you shouldn't have a problem getting the incentive if you are accepted for the account.

Regards

Michelle

tasty_snacks

thanks michelle, tis as i expected! :beer:

mleonard79

No problem - sounds like you've done your homework on it anyway :T