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Skeem

I have also just applied for an A&L Premier Current Account, I double checked the confirmaton emails to ensure the word 'Direct' wasn't in there, although my main reason for switching isn't the £100, it would still be nice.

I have quite a few Direct debits and Standing Orders for them to transfer with their Switching Service. "Gulp"

Fingers crossed, will let you all know how it goes.

geejaybee

eugene04shef wrote: »

Hi everyone,

I have just applied a Premier Current Account this weekend and hoping to get my £100 bonus in 4 months time.

I later found out that I just sign up to the Premier Direct Current Account which pays 6% and no bonus. As from the conversation at the bank, I was given the impression that the 0.5% (Premier Current Acc) and the 6% will give me the bonus payment. I didn't really have prior knowledge of the difference beforehand.

So, I don't know if I should go in on Monday & tell them that I want the Premier current account or to see if there is a loophole here.

Any advice?

I've just transferred to an A&L Premier A/C from LLoydsTSB platinum and am now starting to regret it as getting more than £250 out even from a branch is not possible. What sort of bank is that??

xyz123

HiI am interested in opening A&L current account paying 6% in credit interest (can not switch as i am an Abbey customer). I have some questions about this. can someone help me? My intention is to use this as a savings account as it gives excellent interest rate....1) Is there a minimum term for the account? if required can i close the account halfway through the year?2) is the interest paid monthly?3) the minimum amount to be coming in to the account is £500. does this have to be a salary? or can i just set up a standing order from one of my old accounts and it works....Also i am not sure if this is the right boards to ask for but is someone willing to refer me so both can earn £25...Many ThanksJ

Print_Screen

So in theory would it be possible to put aside £1500 and cycle it through Halifax and First direct for 6 months setting up reciprocal standing orders? Getting £5 per month from Halifax and £200 from First Direct when you open and close the account.
I have looked through First Direct's terms and I can't see anywhere where it says you need a minimum amount in you account, just that you have to use its switching service.
So potentially could you get £230 after 6 months or is it not so simple?

Synonymous

Hello, just a a few comments and some advice would be appreciated with regard to my next current account.

I opened the A&L Premier current account in August last year. They cocked up one of my direct debits, but luckily this was just for broadband and they were quite good about it, god knows what would have happened if it had been my credit card one.

I got the £100 for using the switching service, but I moved my salary and closed the old account myself so that I knew it had all worked.

The internet banking is absolutely terrible, and having been with HSBC I now have high standards, but as someone said earlier, the basic errors in representing your balance online are shocking for an established bank and so frustrating if, like me, you use internet banking for just about everything.

The final straw came last week when I queried a payment I had made (via online banking) which had yet to be received. The woman I spoke to was rude and actually put the phone down on me!

So.... I would say only switch to this account if you're in it for the cashback, let them switch only your smallest, most insignificant direct debit, and cycle your wage in and out each month. Then take the £100 and run like hell after three months! (And bear in mind that payments over £250 out of your account can take up to 5 working days, so do it in little bits)

So now obviously I am looking for my next acount!

I'm looking at the First Direct one, and the ISA also, but I don't think you can have both and still manage the £100 when you close the account as the timing would be too close. The ISA is fixed for 12 months, and you must already have a 1st account and must continue to have one for the first year of the ISA. So I'm thinking there's going to be an overlap of a day at least which will invalidate the leaving bonus? Can anyone confirm/comment?

I may just go for this one anyway as they have good ratings for online banking (and I know how great HSBC are) and it will just be relief to be away from A&L. Plus wepromiseto are giving £75 cashback once you start using your 1st account which I can't find on any of the other main cashback sites I use. So I'll be doing ok out of it!

I get paid four-weekly so my monthly income is not enough for the £1500 a month but I'll just transfer some of it in and out so no probs there.

Any comments or suggestions welcomed

rb10

For the First Direct account, according to the ISA Terms & Conditions, for the Regular Saver ISA (the 12 month one),

The Banking Fee on our 1st Account will not be waived as a result of you having this product for 12 months from the ISA being opened.

It's the 3.1% e-ISA that does waive the current account fee, and this has the fixed 3.1% rate until 30 April 2010, so would give you the full 12 months.

Or, as good internet banking is important for you, have you tried Halifax? Theirs is very good & easy to use. You also get £5 per month (£6.25 before tax) for having an account with them.

Synonymous

I found this on the online FAQs for the ISA:

anything else I need to know?

For at least the first 12 months, you must hold a first direct 1st Account from which to make your monthly payments.
Within the first 12 months, the monthly Banking Fee of £10 on our 1st Account will not be waived as a result of you having a Regular Saver ISA. Thereafter, for any month in which you hold the account, you will not have to pay the Banking Fee. The fee will, of course, be waived during the first 12 months if you meet any of the other Banking Fee waiver criteria.

Does paying in the £1500 a month class as meeting one of the other Banking Fee waiver criteria?

suelees1

I'm with First Direct purely because of their excellent customer service. Their 'internet banking plus' facility allows me to access all my assets and liabilities (including those with other companies) from one page and is really convenient. It takes me one click to go another providers site which is so time saving.

Do any other banks have this facility ?

stphnstevey

Synonymous wrote: »

I found this on the online FAQs for the ISA:



Does paying in the £1500 a month class as meeting one of the other Banking Fee waiver criteria?

Think so.

Timing it to get the ISA and the £100 for closing it is going to be the pain

ragebe

How can the Lloyds Vantage Account not be here?

http://www.lloydstsb.com/rates_and_charges/current_account_rates_curr_page.asp#currentaccountsvantage

Balance Interest Paid Monthly
AER % Gross % Net %
£1+ 0.10 0.10 0.08
£1,000+ 2.00 1.98 1.59
£3,000+ 3.00 2.96 2.37
£5,000 up to £7,000 4.00 3.93 3.14

Have to pay in a minimum of £1,000 per month but 4.0% AER! Even 3.14% after tax is excellent....and yes, I do have one.