Alliance & Leicester to withdraw 12% regular saver

Kazza242

Alliance & Leicester have today announced that they will be withdrawing their Premier Regular Saver account paying 12% interest on 1st July 2007.

The account is available to new Premier current account customers*. If you are planning on opening this regular saver then you had better hurry.

*As well as customers who have not held an A&L Premier current account in the last 3 months.

A&L News Article: Last few days of Alliance & Leicester's 12% gross AER ‘Premier Regular Saver’ Promotion.

Kenneth_Edwards

I note your comments with interest.
In April 2006 A & L promoted an ISA offering 6% interest to those who also opened a current account. There were no 'transfer in' or 'transfer out' penalties & the offer ended at close of business on 12th April 2006. A & L now deny any such offer. Would you know of the offer, or has anyone else who invested had the same denial from A & L?

tom188

You could not transfer in. The ISA was available in 2007 paying (I think) 8%, this was withdrawn in April 2007 and replaced by the Reg Saver (which it had previously replaced in March).

I do not remember any such current account related offer in 2006.

shazkhan111

what are they replacing it??

Kazza242

Kenneth_Edwards wrote: »

I note your comments with interest.
In April 2006 A & L promoted an ISA offering 6% interest to those who also opened a current account. There were no 'transfer in' or 'transfer out' penalties & the offer ended at close of business on 12th April 2006. A & L now deny any such offer. Would you know of the offer, or has anyone else who invested had the same denial from A & L?

I don't recall such an offer by A&L. I remember they offered an ISA Direct Issue 2 which included a 0.70% bonus until April 12th 2006. I couldn't find the offer you were referring to in the A&L press release archive for 2006, see here.

In 2007, A&L initially offered an ISA paying 7% which did not accept transfers in. To qualify customers had to open a new Premier Current current account at the same time. The ISA rate was then increased to 8.10% to compete with Abbey's 8.10% ISA/GEB offer.