Alliance And Leicester 7% 1 year fix

Fella

Do A & L have a history of leaving these offers open long enough to actually free up the funds to invest in one? Or is this likely to disappear any second? Or does no-one know...

bristolleedsfan

Fella wrote: »

Do A & L have a history of leaving these offers open long enough to actually free up the funds to invest in one? Or is this likely to disappear any second? Or does no-one know...

All fixed rate issues close when the provider has achieved the level of deposits it aimed to achieve.

Being as u saw with Chelsea Fixed Rate Offer how quickly the issue was closed im suprised in an era of falling interest rates u havent made arrangements to move your icesave funds closer to home so that u are in an excellent position to hit the ground running when a too good to miss fixed rate offer is launched.

if u think, well Nationwides fixed rate offers stayed open for ages, they werent best buy fixed rates.

Fella

Once again it's me being a bit crap

The money I would use for this one is actually in my Tescos account & I'd never withdrawn from that before. I always do a "dry run transfer" when I'm moving money from an online account to a linked current account for the first time, having read horror stories from people who'd paid money into someone elses account & not been able to get it back

So - got my Tesco's Internet banking re-setup Monday & did a transfer that has hit my account today - so am now able to w/d from Tescos so open the A & L account. But I have a feeling that it'll be gone before I do

No way around this I guess, other than to either keep money in a current a/c (& therefore lose interest) or to move it as soon as you hear about a decent account & just hope it goes through in time.

cheers
Fella

Old_Slaphead

As it's a branch based account and as it's not been much publicised yet (ie weekend press) and as it's not blindingly obvious on the website then I suspect it will be several more days at least before they get significant uptake (and after all, it appears they do need the cash more than most).

Wolf_Man

Hi to you all.

First post here, though I have been using the advice posted here for a time.

I have just opened this bond with A&L.

They were satisfied with my passport as ID and said that the bond matures on Feb 1st 2009 and if you turn up at the branch on the 2nd I would walk out with a cheque or bankers draft.

First bit of advice is to book an appointment with the branch first.

As far as I am aware you are chancing it to just walk in off the street.

You can do this from the phone number on the A&L website.

The second bit of advice is not to exceed the FSA £35,000.00 protection IMHO.

Fella

I guess if you're a real stickler for not going over the £35K limit you should only invest £35K minus 7% minus basic tax (just over £33K) in a one year bond.

bristolleedsfan

Fella wrote: »

No way around this I guess, other than to either keep money in a current a/c (& therefore lose interest) or to move it as soon as you hear about a decent account & just hope it goes through in time.

cheers
Fella

Perhaps their is a case ( which is my belief) for keeping funds in a high rate account that has Branch Access, and/or an account close to your current account even if this means losing a few pennies in interest.

Depends where u live of course, Stroud And Swindon, Chelsea, Skipton all have high paying Branch Accounts and a lot of people will have moved a significant amount into Yorkshire RS from which they could go to a branch and move a large sum out to go into a high paying fixed rate.

Most current accounts either pay high interest up to a certain amount or have an e-saver linked to the current account which enables instant transfers. ( again few pennies might be lost in interest, equally interest is lost if u miss out on the best paying fixed rates)

Fella

Wolf_Man wrote: »

Hi to you all.

First post here, though I have been using the advice posted here for a time.

I have just opened this bond with A&L.

They were satisfied with my passport as ID and said that the bond matures on Feb 1st 2009 and if you turn up at the branch on the 2nd I would walk out with a cheque or bankers draft.

First bit of advice is to book an appointment with the branch first.

As far as I am aware you are chancing it to just walk in off the street.

You can do this from the phone number on the A&L website.

The second bit of advice is not to exceed the FSA £35,000.00 protection IMHO.

I've just read on another forum that people are being turned away if they try to open one of these without an appointment & that it can take a couple of weeks to book one....

Wolf_Man

Fella wrote: »

I've just read on another forum that people are being turned away if they try to open one of these without an appointment & that it can take a couple of weeks to book one....

I phoned up and got an appointment for the next day, (I didn't want to miss out again like I did for the Chelsea 7% Bond) they were certainly busy at the branch and the appointments were running late, I suppose it will depend on your location.

bristolleedsfan

Fella wrote: »

I've just read on another forum that people are being turned away if they try to open one of these without an appointment & that it can take a couple of weeks to book one....

When same situation occurred with Barclays in April 2007, I told Barclays ( and Barclays agreed) that being as i had the application form completed, cheque, and ID their was absolutely no need for anybody to see me on a 1-1 basis.

At that time Barclays photocopied my ID gave me the originals back and took my application form and cheque.

I would suggest to A+L that they did the same thing.