A&L 6.5% eSaver

Steve_xx

*gemstar wrote: »

I currently have 100k in the Direct Saver. For me, I imagine the correct step would be to transfer 75k to the new eSaver and because no interest will be paid on my remaining 25k in the Direct Saver for December, transfer that out temporarily to another bank. Then move the 25k back to the Direct Saver come 1 Jan 2008. For people who have shifted funds out temporarily before, is it necessary to leave at least £1 in the Direct Saver?

The correct step would be for you to transfer the lot to the new account and leave just £1 in the existing Direct Saver account. Why would you want to leave 25k in it?

clearform

jackthelad wrote: »

• No interest is earned on the account balance in any month in which a withdrawal is made

watch out for this sneaky clause. this is deliberately meant to catch you out

*gemstar

Steve_xx wrote: »

The correct step would be for you to transfer the lot to the new account and leave just £1 in the existing Direct Saver account. Why would you want to leave 25k in it?

The "new account" (eSaver) only allows 75k maximum investment.

Steve_xx

*gemstar wrote: »

The "new account" (eSaver) only allows 75k maximum investment.

In that case close the original Direct Saver account, then open another one.

The_Fiddler_2

*gemstar wrote: »

I currently have 100k in the Direct Saver. For me, I imagine the correct step would be to transfer 75k to the new eSaver and because no interest will be paid on my remaining 25k in the Direct Saver for December, transfer that out temporarily to another bank. Then move the 25k back to the Direct Saver come 1 Jan 2008. For people who have shifted funds out temporarily before, is it necessary to leave at least £1 in the Direct Saver?

I left a pound just to make sure it stays open. I moved the money to the plussaver at the start of a new month to allow me to shift my money to various other accounts. I planned to move the remainder of it back to the Direct Saver, but it will be going to the the e-saver now

KTF

OK, I have the eSaver showing on the online banking now but when you select the quick transfer option you can only transfer from Direct Saver to linked current account or linked current account to eSaver (or Direct Saver).

How irritating. I wonder why you cant go from one to another?

The_Fiddler_2

That is the same with most accounts AFAIK, not just A&L - you need to move money via a current account, but if you have an A&L current account you can move it in a few minutes from one to the other via the current account.

sloughflint

The_Fiddler wrote: »

That is the same with most accounts AFAIK, not just A&L - you need to move money via a current account, but if you have an A&L current account you can move it in a few minutes from one to the other via the current account.

I'm not that familiar with A&L so might be wrong.
I opened a direct saver a while back and linked it to an external current account.
I later opened an A&L current account which I'll ditch in due course.
I called to ask to change the linked account to the A&L current account. Not allowed without closing and opening a new DS.
So I suppose from what you are saying, it may depend if you've already made your A&L your linked account.

The_Fiddler_2

Yes I was assuming one already had an A&L current account