Alliance And Leicester 7% 1 year fix

bristolleedsfan

So 1 Year Fixes are still rising :cool:

min 1000.00 http://www.moneyfacts.co.uk/savings/bestbuys/fixed-rate-savings-accounts.aspx


http://www.alliance-leicester.co.uk/savings/index.asp?page=frb&ct=calcresults

they looking for new money only, we all know why

"*No Alliance & Leicester cheques or internal transfers allowed"

Lavendyr

It's branch only as well, just to note - which is disappointing for those of us who are no longer near A&L branches.

Cozworth806

The fixed rate deposit accounts are a minefield.

Just considering if I dare ask my wife to go to Bradford to open one given the amount of hassle we have had with Chelsea's applications.

Sillychuckie

Damn diddly damn.
Recently locked away a chunk at 6.80 (which was top payer at the time)...

Nuts.
Think I might transfer funds out of the Yorkshire BS Reg Saver into this.
Why bother with 6.85% on a reg saver (which is at risk of becoming 3.35% if you don't get the bonus), when you can get a guaranteed 7 at A&L.
Although, the YBS one runs on longer than 1 year...

Hmm, decisions decisions. Either that, or another stooze.

bristolleedsfan

Sillychuckie wrote: »

)...


Think I might transfer funds out of the Yorkshire BS Reg Saver into this.
Why bother with 6.85% on a reg saver .

Thats what i did when chelsea 6.9% fix appeared, killed 2 birds with one stone, gave Yorkshire BS a bloody nose for not passing on all base rate increases on the reg saver and protected my cash from more base rate reductions.

Dagobert

How can the funds be withdrawn on maturity?

T&Cs 29.4 state that the funds can be withdrawn on the working day after maturity but the T&Cs do not specify how.

Branch visit? Cheque? BACS? I can vividly picture them taking 8 weeks to act on written maturity instructions. How much interest do the funds accrue between maturity and withdrawal?

bristolleedsfan

Dagobert wrote: »

How can the funds be withdrawn on maturity?

T&Cs 29.4 state that the funds can be withdrawn on the working day after maturity but the T&Cs do not specify how.

Branch visit? Cheque? BACS? I can vividly picture them taking 8 weeks to act on written maturity instructions. How much interest do the funds accrue between maturity and withdrawal?

I can vividly picture investors going along to the branch to make withdrawal of maturity funds, carrying maturity cheque out by hand as absolute reverse action to that of opening fixed rate bond by cheque, by hand at a branch.

rbulph

Be careful. I opened an ISA with A & L. It had to be linked to a nominated current account with them. So I used my A & L Premier Direct Account. But they then wrote to me a few months later saying that they wanted to charge me £5/month for my Premier Direct Account. So I wrote to them, telling them to close all my accounts. But they omitted to close my ISA. It now has £50 interest in (which they should have paid me when I asked them to close it), and I've no easy wat to get this out. Anyone have any advice as to how I should get this out? I suppose either I write to them again, or call in at the branch and queue up.

MarkyMarkD

I expect, rbulph, that they didn't close your ISA account because people don't normally close ISAs. They normally transfer the money to another ISA in order to preserve the tax benefits.

Whilst they should have clarified this with you, I expect that if you had in fact meant to transfer the funds to another ISA provider, but they'd closed it instead and you'd lost the tax benefits, you'd be pretty furious with them.

Regarding your current situation, I should write to them or phone the Direct Savings team - the branch won't be able to sort out a Direct ISA situation.

rbulph

Oh, thanks. I had withdrawn all the capital from it, so was just awaiting the accrued interest, so I wasn't bothered about transferring it. I'll phone/write to them as you suggest.

Beate

NEVER EVER just close an ISA account. You will have to start all over again somewhere else, whereas if you transfer it to another provider, you can transfer the whole accrued amount and add the annual amount on top.