Alliance & Leicester - How dare they!

Calchas

The child in me is still alive and well.

In the early part of this week I saw an advert from A & L regarding a regular savings account paying 12% providing a current account was opened with at least £500 paid in per month.

I applied, not for a second thinking I would be refused: after all I was the one taking the risk, if indeed there was a risk; however, refused I was!

To be honest it was no big deal but when I saw their share price plummet yesterday I couldn't resist sending them a letter. Childish I know, but it made me feel good!

Alliance & Leicester plc
Credit Operations
Heritage House
61 Southgates
Leicester
LE1 5RR

Your reference: 5859029

My reference: Lucky Escape

14 September 2007

Dear Sir or Madam

Thank you for your response regarding my recent application.

Bearing in mind I was applying to save money with your bank and not borrow, your decision to reject my application has mystified me somewhat.

However, watching your company lose nearly a tenth of its value in a matter of hours (at the time of writing) leads me to believe that the Alliance and Leicester is not the most appropriate institution in which to entrust my money.

Therefore, it seems, your decision is one that suits us both.

Yours sincerely


XXXXXXXX


PS

Do not even think about approaching me for a loan!

msmicawber

Calchas wrote: »

PS

Do not even think about approaching me for a loan!

:rotfl: :rotfl:

isofa

"Lovely stuff" as Alan Partridge would say!

anticlaus105

Calchas wrote: »

The child in me is still alive and well.

In the early part of this week I saw an advert from A & L regarding a regular savings account paying 12% providing a current account was opened with at least £500 paid in per month.

I applied, not for a second thinking I would be refused: after all I was the one taking the risk, if indeed there was a risk; however, refused I was!

To be honest it was no big deal but when I saw their share price plummet yesterday I couldn't resist sending them a letter. Childish I know, but it made me feel good!

Alliance & Leicester plc
Credit Operations
Heritage House
61 Southgates
Leicester
LE1 5RR

Your reference: 5859029

My reference: Lucky Escape

14 September 2007

Dear Sir or Madam

Thank you for your response regarding my recent application.

Bearing in mind I was applying to save money with your bank and not borrow, your decision to reject my application has mystified me somewhat.

However, watching your company lose nearly a tenth of its value in a matter of hours (at the time of writing) leads me to believe that the Alliance and Leicester is not the most appropriate institution in which to entrust my money.

Therefore, it seems, your decision is one that suits us both.

Yours sincerely


XXXXXXXX


PS

Do not even think about approaching me for a loan!

Excellent letter. I would love be fly on the wall when it's read. :rotfl:

I had a similar experience. They kept sending me loan applications a few years back. When I applied was told no (had over 25k in savings with them at the time). Spat my dummy out, closed accounts/transferred ISA etc.

When this 12% thing came in applied for the current account and savings account. Was given a normal current account so couldn't have the 12% saver. Emailed the underwriting department asking them to review my previous transactions and threatening to go for good. Was given the correct current account and 12% saver.

Don't think I will keep with them once it has matured.


EDIT: I think the rejection seems to stem from the 0% overdraft. They gave me the minimum £250. I have made sureto use it in full. Stuff em.

shokadelika

You would have been rejected for the current A/c on your credit rating as it would come with a visa debit card, savings accounts are not based on credit ratings !

johnmoney05

No point. I don't think they care to read it.
But, if you feel good, then...why not? 24p to buy a happiness.

MarkyMarkD

Frankly, they'll read it and think "what a muppet". As shokadelika pointed out, they are underwriting an application for a current account which inherently involves them in risk of you going into unauthorised (or authorised) overdraft and defaulting on amounts you owe them.

Calchas

anticlaus105 wrote: »

When this 12% thing came in applied for the current account and savings account. Was given a normal current account so couldn't have the 12% saver. Emailed the underwriting department asking them to review my previous transactions and threatening to go for good. Was given the correct current account and 12% saver.

Perhaps I should have appealed anticlaus105. You have shown me that a little perseverence goes a long way with the people of the Alliance and Leicester.

Cheers
:beer:
I see they are in the news again today because of their over reliance on the money markets to raise funds for new mortgages!

:cool:

obsessed_saver

Oh, they will reply.

Calchas

shokadelika wrote: »

You would have been rejected for the current A/c on your credit rating as it would come with a visa debit card, savings accounts are not based on credit ratings !

No doubt you may be right but in hindsight perhaps I could have helped myself by transferring over a couple of direct debits and asking for the overdraft facility and the credit card; in other words, showing an interest in the current account as well as the regular saver.

I have recently applied for (and received) a couple of credit cards: perhaps that may have something to do with it. I certainly don't understand the logic used when these institutions assess people. After reading about the fallout from the American subprime market I'm not sure anybody does!

Calchas

johnmoney05 wrote: »

But, if you feel good, then...why not? 24p to buy a happiness.

Just imagine if everybody else was as cheap as I am.

Roll up, roll up, buy your happiness for under five shillings :j :j :j

What a wonderful world it would be. :A