Alliance & Leicester 7% bond

soba

I had a phone call this morning off A&L, I had an appointment on Sat and instead of taking my cheque book along to open the a/c, took my pay-in book instead. Had appointment booked for today, they rang to say bond will be withdrawn at 12.30pm. Hopefully, they'll accept my cheque this afternoon, I've got all the forms filled in, so hopefully it shouldn't be a problem.

Stavros_3

Same for me, had my 10am appointment this morning, as I were there the staff were ringing customers like mad who had appointments later in the week to break the bad news and see if they could get in this morning. Chuffed that I was able to open mine, but disappointed for others who couldn't. If it hadn't have been for this website I wouldn't have known about it, Well done Martin

Sillychuckie

OK - For people that were able to get this....

Has anyone received any confrimation of the percentage rate you are getting on the bond?
I have received nothing.
On there website (A&L), there is no longer ANY reference to the 7% rate anywhere.
Even in their historical rates page, there is nothing to show they were ever offering 7%.
If you use their 'check my rate' tool, and type in the first 3 account numbers of the bond, it doesn't recognise the numbers or show me my rate.

Speaking to someone on the phone, they will not agree to put anything in writing confirming my rate.
I'll try the branch tomorrow, but I trust A&L as far as I can throw them. It really would not surprise me if they gave me some standard 5% rate, since I applied on the morning of the last day, and only have verbal confirmation that I made the 7% (which I can't prove).

Did anyone get a savings certificate? Mine hasn't arrived yet. I only have a cheque receipt for the account debit as proof it was even opened (and a timestamp on it - which could prove useful).

gt94sss2

Sillychuckie wrote: »

Did anyone get a savings certificate? Mine hasn't arrived yet. I only have a cheque receipt for the account debit as proof it was even opened (and a timestamp on it - which could prove useful).

My father got his 'savings certificate' the other day.. after handing in his cheque on Saturday.

However, the opening deposit was dated Monday and for the same reasons as yourself, he called his local A&L branch - when he gave them the first 3 digits they confirmed it was for the 7% bond.. though i don't know what the first 3 digits were..

Regards
Sunil

soba

Did anyone else expect their monthly interest to be paid on the first of Feb like me? Opened the account on 21 Jan and read the T&Cs on their website that state
"29.8.2 Interest will be due on the first day of the month after Your Bond is opened and monthly in arrears thereafter"
I make that the first of Feb, or have I got the wrong end of the stick?
Whilst I'm here, thought I'd just mention what a palaver it is trying to speak to someone at my local branch - they (almost) permanently have "no-one availalbe to answer your call, please leave your number and we'll endeavour to get back to you." Didn't endeavour hard enough in my opinion.:mad: Guess I should have known better, I had a business account with them years ago, and obviously things haven't improved since then.

Stavros_3

This was a limited edition 1 yr fixed rate bond, the rate was 7% and was only available for six days. If you ring/call in with your account certificate they will allay your fears that the bond issued was for the 7%

soba

Stavros, if your reply was meant for me it's not the actual rate I'm talking about, it's whether the first monthly interest is paid in Feb or March. According to the guy at A&L the first monthly interest payment will be on 1 March. I just wondered if anyone else believed it would be 1 Feb?

Cozworth806

soba wrote: »

Did anyone else expect their monthly interest to be paid on the first of Feb like me? Opened the account on 21 Jan and read the T&Cs on their website that state
"29.8.2 Interest will be due on the first day of the month after Your Bond is opened and monthly in arrears thereafter"
I make that the first of Feb, or have I got the wrong end of the stick?
Whilst I'm here, thought I'd just mention what a palaver it is trying to speak to someone at my local branch - they (almost) permanently have "no-one availalbe to answer your call, please leave your number and we'll endeavour to get back to you." Didn't endeavour hard enough in my opinion.:mad: Guess I should have known better, I had a business account with them years ago, and obviously things haven't improved since then.

The interest from my wife's account went into her Nat west account this month so you will need to check directly with them.

soba

Can anyone else shed any light on this?

soba

Just an update. No interest received so far this month either, so I've been into the branch and enquired. Seems that we'd been earmarked for yearly interest instead of monthly. So at the beginning of April we'll be getting two months interest - March and April. I plan on asking for an extra payment off A&L, after all if I'd stuck the money straight into an interest paying account I'd be earning interest on it instead of Alliance keeping hold of it for an extra month....