Interest not paid on A&L Direct Saver

huff

molerat wrote: »

Checked my A&L Direct Saver account yesterday and no interest had been added.

The account was cleaned out bar £1 on 1st May. £1500 was paid in on 7 June and more later.

E-mailed A&L and got the following reply :

I can confirm that due to the withdrawal from your account on 1 May 2007, no interest has been credited to your account on 1 June 2007.

To which I stated that it was now July !! and got the following :

I can confirm that no interest has been credited to your account on 1 July 2007, as the balance of your account was below the minimum investment limit during June.

I have replied that the min investment is now £1K and am awaiting their response. :mad:

I put a £4000 in near the start of the June and then upped it to £5000 near the end of the month, I was only paid interest for the period when at £5000 despite the information on the site.

The only reply I've had from them so far is that I don't understand how interest works!! No confirmation yet to my actual question of whether the bottom limit is £1000 or £5000.

LittleVoice

I made a note that the reduction to £1K minimum balance was effective from 2 June 2007. That's the date the interest rate went up to 5.94% gross. If I'm right perhaps huff should get A&L to recalculate.

molerat

Today I received a reply stating the T@C's of the account ( I was right ) :rolleyes: and that interest has been credited to my current a/c. :mad: I have replied that that is not what I requested when I opened the account and that they abide by the T&C's of the account and and credit it to the Direct Saver.

I think they realise that they have made a huge cockup but won't admit to it. Possibly one for Martin to look at if more people have not been paid.

For those who have not received any interest get e-mailing. :money:

WeatherMan

I've missing my interest too. Called up and they said they'd screwed up - but wouldn't let me know when i'd get the interest, and also wouldn't confirm it would go into the direct saver for this months compounded interest!

goldbern

molerat wrote: »

E-mailed A&L ...

Just out of curiosity, molerat, what e-mail address did you use to contact Alliance & Leicester? The 'Contact us' page on the A&L website lists only telephone numbers, and I've not been able to find e-mail alternatives (particularly for the Direct Saver account) elsewhere.

YorkshireBoy

goldbern wrote: »

Just out of curiosity, molerat, what e-mail address did you use to contact Alliance & Leicester? The 'Contact us' page on the A&L website lists only telephone numbers, and I've not been able to find e-mail alternatives (particularly for the Direct Saver account) elsewhere.

You can send them a secure message from your online area...

Log in
Click 'help'
Click 'contact us'
Click 'other ways to contact us'
Click 'send us a secure message'

Alternatively, ring them on freephone 08000 688638 (credit card number) and navigate the menu system to current accounts/ISA's/savings as required.

molerat

The interest still has not appeared in my current account as they stated and they have now passed the matter on to a specialist team. The annoying thing is that if I did not abide by the t&c's of the account and missed a payment I would get a hefty charge.

goldbern

YorkshireBoy wrote: »

You can send them a secure message from your online area...

Thanks, yorkshireboy, much appreciated.

molerat

Has anyone who had not received their due interest had it yet ? I was promised it would be in my current account on the 6th but it is still not there. :mad:

littlemissmoney

Thanks for pointing this out. I've just checked and I haven't been paid any interest either :mad: Time to make a phone call me thinks...