A & L current account transfer

Vez

We recently transfered out joint a/c for paying bills from Lloyds TSB to Alliance & Leicester. What a joke, so far its taken 2 months and its still not finished. Even better is the DD's have all been swapped and the november ones are coming out the new account . Problem is they arent sending out the form to transfer money from the old account until the end of the month, if they even do. Luckily I transfered some money across off my own back , just in case. The thought did occur to me that this wasnt a coincidence. Just after we began the transfer process, A & L changed their overdraft rules to charge 50p for each day the account is over drawn. If I had waited for the offical transfer of funds paperwork they could be charging me 50p a day since the first DD went out on Nov 10th until the funds were sent across, most likely some time in December. How much would that have cost me .

mrs_deadline

Those 50p a day charges are capped at £5 per month if you stay within your limit, however your alertness has also saved you the £5 underfunding fee.

:money:

Otherwise yes, the fees would be starting to mount up. Which is no doubt their secret wish, after all they have to recoup all the £50 new customer bonuses from somewhere.

noh

If you have an overdraft facility on a new Pemier or Premier Direct account it will be free for the first year. So provided you do not exceed your limit the 50p fee is not relevant.

Nigel