All&Leicester Premier direct account

Tinz_2

Alliance&Leicester Premier Direct Account (Switching Service) say you must be in credit for a minimum 15 days with your current bank before they will match your overdraft and not 2 days as MSE say. Their site only stated one of the following conditions stipulated AFTER i applied and received cards/new account numbers/passcodes etc. Very vague and deliberately misleading.

• You must provide a full 30 day original bank statement for the current month
• If the statement does not quote your actual overdraft limit a confirmation letter from your bank is required.
• Statement must show your account has been in credit for a minimum 15 days.
• Statement must show you have not exceeded your overdraft limit.
• Statement must show you fund the account with a minimum £500.00 per month.
• Statement must show you have a minimum 3 debit transactions per month.
• Account must be active and be conducted in a satisfactory manner.
• Any previous account with A&L must be in the same name as new account with excetion of joint account.
• A check will be carried out to ensure your total unsecured lending with A&L does not exceed £25.000.

Hope this saves someone time and helps to prepare you better than i was !

Sagaris

I opened the same account yesterday in joint names and was accepted immediately? Mind you, goodness knows what they will make of our old account with Abbey, which was running with a small overdraft until they c*cked it up - due to their error in debiting a large amount and adding bank charges to pay for breaching our o/d limit, we now have an o/d limit of £2,700! :rotfl:
I have to laugh or I'd cry.

Bokkens

You don't have to have the switching service to get the benefits of the premier accounts.
As long as you fund it with £1000 or £500 if this is done on line you can electronically send you money in and out of the account as often as you like while still qualifying for the joining fees.
If you and your OH open separate accounts you will both qualify for the joining fee thereby doubling you money straight away to £100.
The credit card is also the ideal Mule card for transfering money from your card to your bank account.
You can have several bank accounts and as such you should use each one as a tool for each different purpose,one for savings,one for balance Transfers,cash accounts etc.
If you lump all your finances in with one account you are playing right into their hands and will undoubtably end up paying charges and interest to the bank.

Sagaris

Bokkens wrote: »

If you lump all your finances in with one account you are playing right into their hands and will undoubtably end up paying charges and interest to the bank.

Well I never paid Abbey any charges until this year, after 22 years of banking with them, partly down to me not keeping a check on things (I'm a reformed character now!) and lately because of the balls up they have made. Surely because we have one joint account it doesn't make us more liable to line the bank's pockets?
Anyway, A&L can't be any worse than Abbey have been lately! :rotfl:

pKaTz

hey. im going to join A&L and switch from Lloyds TSB
what do i need to do to get the joining bonus of £50.i dont know anyone else with the A&L
also-is their direct debit switching service good, or will i have to do it all myself. Ive heard or probs in the past with other banks.
thanks.

Sagaris

Well I've nearly got an A&L account - I'd like to know abou the £50 too please!

Al2007

Please can somebody help me? I am very worried as my A&L premier current account is currently £639 over its o/d limit of a £100. I know i am going to get charges which i am going to try and sort out at a later date, but at the moment for the next couple of months i am going to struggle to get my account bank under the o/d limit.....i am very worried, and i would like to know what is the worst that could happen?is it that they would close the account?or could it be worse?baliffs?court action?somebody please let me know, if nothing more just to put my mind at rest!Thanks...Alex.

jla

Al2007 wrote: »

Please can somebody help me? I am very worried as my A&L premier current account is currently £639 over its o/d limit of a £100. I know i am going to get charges which i am going to try and sort out at a later date, but at the moment for the next couple of months i am going to struggle to get my account bank under the o/d limit.....i am very worried, and i would like to know what is the worst that could happen?is it that they would close the account?or could it be worse?baliffs?court action?somebody please let me know, if nothing more just to put my mind at rest!Thanks...Alex.

ring them and try and explain,if you do nothing they will whack on all sort of charges.do not do nothing.

pKaTz

can anyone with AnL premier direct account PM me, and give me details so we can both benefit from this new account

ta

Bokkens

Al2007 wrote: »

Please can somebody help me? I am very worried as my A&L premier current account is currently £639 over its o/d limit of a £100. I know i am going to get charges which i am going to try and sort out at a later date, but at the moment for the next couple of months i am going to struggle to get my account bank under the o/d limit.....i am very worried, and i would like to know what is the worst that could happen?is it that they would close the account?or could it be worse?baliffs?court action?somebody please let me know, if nothing more just to put my mind at rest!Thanks...Alex.

Go into your local branch and speak with one of their personal bankers and see how they can assist you it is always better face to face as they can see how sincere you are,maybe increasing the overdraft may be the way of reducing any further charges and allow you to repay the outstanding amount.
The banks always have the option of closing accounts but this is normally after long periods of bad account managing and not heeding the banks advice,it is unlikely they will close your account over this overdraft as they will prefer that you repay the money.
Forget court action.
Banks and credit card companies use the court as a last resort and only after the account holder has fail to pay the debts.You are nowhere near this situation as you intend to pay.Go in and talk it over with the bank and ask for their help ,ask them to go over you account and assist with budget planning or use Martin's Budget planner.
Good luck

Bokkens

Sagaris wrote: »

Well I never paid Abbey any charges until this year, after 22 years of banking with them, partly down to me not keeping a check on things (I'm a reformed character now!) and lately because of the balls up they have made. Surely because we have one joint account it doesn't make us more liable to line the bank's pockets?
Anyway, A&L can't be any worse than Abbey have been lately! :rotfl:

It isn't the fact of partners having a joint account it is the comings and goings within the account that make it more likely that charges will be incurred.If you have several accounts for bills,holiday,spending cash etc it is clearer to follow your accounts and keep to a budget and if you are online the monitoring is simple, convient and faster.no more waiting for that snap shot of time(bank statement)that is 10 days old online it is instantly available.
Anyway each to their own,if your method is working for you and you are happy great.