any help for a backpacker?

money-saver18

Hey everyone

Im currently in Australia backpacking around having lots of fun. When I came out here I never sorted out my current account before I left. Im currently with Alliance and Leicester & ive got a premier direct current account. Before I come out here I was putting in over 500 a month in, but since Ive been out here I have not had any funds going into the account. I got told a few days ago I have a letter telling me I will be charged 5 pound for each month I do not put funds in from now on.

Ive got a a fair bit in the account for when i get back, I just want to know is there any account I can leave the money in which I don't need to put money in & get money out from each month? I would put the money in a savings account but I need a current account because I have a direct debit linked to the account.

Thanks

neilp

I know this might be a hassle, but one solution would be to open a savings account (say ICICI, though any would do, provided it is not with A&L), transfer in £500 each month, then transfer it straight out again. This would get round the minimum funding requirement, and avoid charges

morg_monster

If you can sort it out from abroad, go for a Nationwide flexaccount. There are no charges for taking your money out abroad or spending on the visa debit card, and the exchange rates are not "loaded" too, so you get more £ for your $, if you see what I mean! There is also a linked savings account "e-saver" where you can bung most of your money to get a better interest rate and move it across to the current account instantaneously.

However, I don't know how easy it is to set this up from outside the UK, at the very least it would involve sending debit cards halfway round the world, if not various forms, ID and all the rest. As neilp says the easiest thing for now may be to 'recycle' the £500 around the accounts every month. Again though you've got to open a new savings account - still a bit of hassle - although you may well have a dormant account lying somewhere which you could reuse?

Biggles

Relax and enjoy yourself. How much longer are you there? If it's three months, it'll only cost you £15 and you're already paying that every month in currency exchange if you're drawing it from A&L.

As Morg intimated, what you should have done before you left was to put your money in a Nationwide Flexaccount but there's no point in getting involved in all that hassle from the other side of the world, life's too short.

C_Ronaldo

Im with rbs and theres no minimum amount which has to be payed into the account, its a current account i have, theres other accounts the same as the 1i have from the other banks, or you could just leave it,

enjoy yourself though,

money-saver18

I would put the money in a ICICI account but ive had problems with them in the past. I have got a Australian bank account so im not touching what is in my UK account. Im here for another 8 /9 months hopefully!!. Ive looked at the nationwide account & they want employer details & income details. These will both be hard as im only doing temp work at the mo in Australia. Im thinking of calling A&L & asking to speak to a manager to see if I could make a 1 off payment instead of getting charged every month but I doubt that will work. Any other ideas guys?

paulboy83

Can you not just change to another account with A&L that doesnt charge you?