The Top Easy Access Savings Discussion Area

Mr._H_2

stphnstevey wrote: »

Do A+L allow Faster Payments?

A&L do outgoing Faster Payments up to £250. Only one payment to a given account can be made per day (midnight-midnight). You can get around this if you've got multiple accounts that accept and make Faster Payments.

e.g., Let's say you want to transfer £1000 from A&L to Natwest. You also happen to have a Tesco savings account, a First Direct current account and a Lloyds Current Account:

Transfer £250 to Natwest
Transfer £250 to FD, then on to Natwest
Transfer £250 to Tesco, then on to Natwest
Transfer £250 to Lloyds, then on to Natwest

Tedious, but it works.

stphnstevey

Mr._H wrote: »

A&L do outgoing Faster Payments up to £250. Only one payment to a given account can be made per day (midnight-midnight). You can get around this if you've got multiple accounts that accept and make Faster Payments.

e.g., Let's say you want to transfer £1000 from A&L to Natwest. You also happen to have a Tesco savings account, a First Direct current account and a Lloyds Current Account:

Transfer £250 to Natwest
Transfer £250 to FD, then on to Natwest
Transfer £250 to Tesco, then on to Natwest
Transfer £250 to Lloyds, then on to Natwest

Tedious, but it works.

Trying to do the minimum £500 month Lloyds to A+L and back.

Is there the same restiction on the amount A+L account can receive by FP?

I have a couple Lloyds accounts, so would I be able to FP £250 each to two seperate Lloyds accounts?

Mr._H_2

stphnstevey wrote: »

Is there the same restiction on the amount A+L account can receive by FP?

No.

stphnstevey wrote: »

I have a couple Lloyds accounts, so would I be able to FP £250 each to two seperate Lloyds accounts?

I think so, yes.

heather8

The Alliance and Leceister have a similar product, but you can only have 2500.00 in the account and you need to move 1000.00 per month like the other accounts.

However, if you go through Quidco to open the account, you also get 45.00 cash back. Make sure you clear your cookies if you want to open one, so that the transaction tracks.

blizeH

Closing all of my accounts down now but one, can't decide which to keep out of...

Bradford & Bingley - 2.45% with a bonus til November and a nice, useful website
Principality - 2.4% with bonus, or 1.8% ISA, generally consistent rates but an awful site

Help! Which one would you guys go for?

boobbby

blizeH wrote: »

Closing all of my accounts down now but one, can't decide which to keep out of...

Bradford & Bingley - 2.45% with a bonus til November and a nice, useful website
Principality - 2.4% with bonus, or 1.8% ISA, generally consistent rates but an awful site

Help! Which one would you guys go for?

Neither !! Open 2.75% Isa account with Alliance and Leicester/Santanter and transfer in any previous ISA's. For this year use their 3.2% flexible ISA. The site is easy use as well as all transactions can be carried out on the Internet.

BB

blizeH

Thanks boobby - unfortunately that account has a bonus though, and I don't really like the idea of keep transferring ISAs since it's quite a hassle compared to normal accounts!

Meh. I still can't decide between Bradford and Bingley or Principality either, need the cash asap too so could probably do without over-thinking this as much as I am! I hate my indecisiveness.

boobbby

blizeH wrote: »

Thanks boobby - unfortunately that account has a bonus though, and I don't really like the idea of keep transferring ISAs since it's quite a hassle compared to normal accounts!

Meh. I still can't decide between Bradford and Bingley or Principality either, need the cash asap too so could probably do without over-thinking this as much as I am! I hate my indecisiveness.

Your quite right..once a year I have to transfer all the Alliance and Leicester accounts to their newer better accounts. Still as they are internal transfers they go through without a problem and without loss of interest during the transfer process.

10_66

boobbby wrote: »

...Still as they are internal transfers they go through without a problem and without loss of interest during the transfer process.

Hope you find it just as problem free when A&L are fully integrated onto Santander's system .

boobbby

10_66 wrote: »

Hope you find it just as problem free when A&L are fully integrated onto Santander's system .

In fact I only use A&L because the wife banks with them. Unlike me who will find the best rates with any provider she like to keep all her accounts in one place. I do have to admit that although A&L dont always give the best rates and you have to keep changing their saving accounts I have had no problem so far over many years. Tip ..get an Egg account and you can check most different banks and account balances on one page with just one username and password.