A&L Funding Requirement

msaquib

Hi,

I need to know I opened an A&L Direct Premier Account aound 6 months ago. On my application I said that I pay in 1000 a month into my account.

For tle last 2 months I'm just paying £500 which is minimum. Will A&L will take any action? Is it OK if I continue paying in the minimum £500 every month?

Thanks
M

KTF

The min funding on the account has been lowered to £500 a month.

msaquib

At the time of making my application the funding requirment was £500.00. During my application I was asked how much I will pay into my account every month. I enetered £1000.

Can I still pay on £500.00?

Thanks
M

noh

msaquib wrote: »

At the time of making my application the funding requirment was £500.00. During my application I was asked how much I will pay into my account every month. I enetered £1000.

Can I still pay on £500.00?

Thanks
M

Yes no problem. As long as you pay in £500 or more a month A+L are not bothered. Pay in less than £500 they will start to charge an "underfunding fee" of £5 a month.

Nigel

ad44downey

Or do what I did. Phone them up and switch from the Premier account to their normal bog standard current account. Then there's no mimimum funding requirement at all. :beer:

msaquib

Good one. At present I have 0% on overdraft. I will switch to there standard account once the overdraft expires. Also if I switch will I continue to have the existing Overdaft/Debt Card etc?

Thanks
M