Top Bank Accounts Discussion Area

3011gillian

Went through the process of opening a A&L Direct account. which was approved but no mention of the overdraft amount.
I've now had to phone up and cancel the application as i'm constantly in my overdraft and you have to give a statement showing you have been in credit for at least 2 days a month.(i overlooked this in the t&c's)
the whole point was to avoid the £35 a month Barclays are charging for my overdraft so i could aim to pay it off, it's put me off switching altogether

clou19750

Hi

I would like to downgrade my current account to basic account.

Still like to have a card.... internet banking and most importantly accepts DD but no overdraft.

Which banks would u recommend and why?

Thanks

JimmyTheWig

Can't you just tell your bank you don't want an overdraft?

clou19750

Yeah but i would be better off going to different bank as my overdraft is 1200 and am living on the overdraft and i just want money back in my control

JimmyTheWig

Oh I see. You want to keep the existing account and overdraft and have a new account to use on a daily basis - and pay off the overdraft as a debt.
Good plan.
I'm afraid I don't know which accounts would suit you. Hopefully someone else will come along with something helpful.

clou19750

Yeah that what im looking for... hopefully someone will help

sutton111

Halifax high interest current account abbey as well offer a good interest rate.

n3phi1im

in the email, Martin says you have to earn over £6100 pay in your salary but when you follow the link to the A&L site it actually says

To be able to have a Premier Current Account, you must be over 21 and pay in at least £500 to your account every month. Cash, cheques and your salary all count towards this monthly amount, and they can be spread out over the month.

Is what martin says buried in the fine print somewhere or is it just a simplification?

JimmyTheWig

n3phi1im wrote: »

Is what martin says buried in the fine print somewhere or is it just a simplification?

It's a simplification. If you earn £6100 and pay your salary in then you'll meet the requirements.
If you don't earn that much or don't pay your salary in then you need to come up with some other way of funding it. The easiest, and most common, way would be with a salary - hence the simplification.

Gambit

blue_sea wrote: »

I switched to A&L's Premier Direct current account last year, now the interest rate has turned to a pitiful 1% (BOE base rate -1%) Where should I go next?

I also have a Halifax High Interest account and I can honestly say that its been run very well and have been very happy with the service from them! :money: