A&L Online Saver/ISA closing & cutting rates

jimclark1967

mary wrote:

I've not actually counted the days, but it does seem an eternity waiting for your money to appear to "clear" with A & L. With Ing, you know where you stand exactly.

True, I'd certainly choose ING over A&L any day of the week now that the rates are equal.

JC

hansi

mary wrote:

I've not actually counted the days, but it does seem an eternity waiting for your money to appear to "clear" with A & L. With Ing, you know where you stand exactly.

Exactly my point!

hansi

jimclark1967 wrote:

I think the 8 days quoted includes the 3 or 4 it takes to receive the money so you certainly wouldn't go from June 10th to 23rd without access to your money.

My understanding was that it's only the first transfer you make that can take up to 8 days - all subsequent transfers can take up to 4 days which is the same as most banks.

Not sure it's anything to worry about

you may think so, but my money was received on 10th June by A & L. Not counting that day, 8 working days brings us up to the 23rd! Well the 22nd actually!

jimclark1967

Certainly sounds bad hansi

I'm fairly sure all mine have been available for withdrawal within 4 days. Wont be keeping the account much longer anyway - I prefer the ING website

JC

hansi

The money is showing in my account but it's not "available". It's only "available" to A&L and it's my money. Outrageous!

Indispensable_Hobbes

The A&L site is weird, I cannot transfer my online saver balance to my isa directly, their way i have to transfer from the online saver to my bank and then from my bank to the isa...

Whats this business of closing the account minus £1, does that mean i have to pay £1 to close it?

hansi

jenyking wrote:

The A&L site is weird, I cannot transfer my online saver balance to my isa directly, their way i have to transfer from the online saver to my bank and then from my bank to the isa...

Whats this business of closing the account minus £1, does that mean i have to pay £1 to close it?

No, I think it just to leave £1 in your account to keep it open.

MarkyMarkD

The 8 days is correct for the funds to clear, although they credit the online saver account quicker than that. It's presumably because DDs can bounce for some time after the money appears to have been collected OK.

hansi

MarkyMarkD wrote:

The 8 days is correct for the funds to clear, although they credit the online saver account quicker than that. It's presumably because DDs can bounce for some time after the money appears to have been collected OK.

So, I say again, how is that ING can do it in half the time!

Shrimp_Stu

So if I want to pay into the Halifax Children's Regular Saver account a monthly direct debit of £100 from my A&L Premier Account (the £100 will be transferred via my A&L Online Saver to the A&L Premier Account & then to Halifax) - will I have any timing issues?
Will the money from the Online Saver be instantly switched across to the Premier Current Account so the d/d can be funded directly to Halifax?