A&L Help Please

DilbertJones

Just been reading Martins advice for Current Accounts, A&L is the way to go for me & my Girlfriend.

Does anyone know how long the offer will remain open for? We are currently buying a house, so the mortgage lender has my old bank details, I just think it would be too much of a pain to inform everyone before we move.

We will be moving by begining of September

Hobo_2

Why not open it & fund it( cycle money in then out for a couple of month) just keep your present account aswell, remember length of time with bank = better credit rating!

grumbler

Also don't forget that you get only £25 for opening the account without recommendation. If some other A&L customer recommends you both of you get £50.
http://www.alliance-leicester.co.uk/currentaccounts/index.asp?page=recommend-friend&ct=curraccmenu

MarkyMarkD

September is near enough - open the new account now, and close your old one after you move in if you want to close it at all. Don't use the account transfer service as it's safer and not that difficult to do it yourself IMHO. Get the 0% introductory overdraft and make sure you transfer the DDs/payments out before you transfer the payments in - just moving money in manually to pay the DDs etc whilst you are waiting for everything to be sorted. Don't let your old account get overdrawn as that will cost you money!

DilbertJones

grumbler wrote:

Also don't forget that you get only £25 for opening the account without recommendation. If some other A&L customer recommends you both of you get £50.
http://www.alliance-leicester.co.uk/currentaccounts/index.asp?page=recommend-friend&ct=curraccmenu

£25 for opening online, but If I then refer my Girlfriend to open an account, wont we both get £50, + her £25 for online opening?

£150 not bad

grumbler

robodan wrote:

£25 for opening online, but If I then refer my Girlfriend to open an account, wont we both get £50, + her £25 for online opening?

I am not 100% sure that it is possible to get both £25 (for online or by phone application) and £50 (with voucher). If this is possible both of you can get
(50+25+50)+(50+25)=£200

As far as I understand voucher should be sent by post to A&L after opening an account:

NEW CUSTOMER DETAILS
Complete this section once your account has been opened,
and then post the voucher back to us at the address shown
above.

It looks like nothing can stop you from getting both 25 and 50. Plus extra 50 for your recommendation.

P.S. Don't forget that if you open two accounts you must fund both of them with min £500/£1000 every month. And you probably cannot do this just by transferring money between these accounts. I know that this is possible to do even without extra income - your old account with other bank can be very usefull for this.

Slyder_2

Can you refer more than 1 person to the a&l account, eg refer 2 people and get £25+£50+£50?

Or is it only 1 referral per person?

grumbler

Slyder wrote:

Or is it only 1 referral per person?

No, you can get £25+£50+£50+£50+..................................................

highlighter

In order to receive the £25(open) + £50(referral) you must pay in £500 in 8 weeks. One you have done that it then says you must pay in £500pm, what happens if £500 isnt paid in per month? Do you keep the opening fee and referral bonus?

This is regarding the Premier current account

grumbler

highlighter wrote:

..what happens if £500 isnt paid in per month? Do you keep the opening fee and referral bonus?..

I think you can keep them, but:

http://www.alliance-leicester.co.uk/currentaccounts/index.asp?page=all-rates&RateTable=home

Under-funding fee (failure to pay the minimum monthly credit)
£5 per month

I think you will also lose interest-free overdraft and free travel insurance:

http://www.alliance-leicester.co.uk/currentaccounts/terms_yw_prem.pdf

32.3. We may at any time withdraw or close the Account (and any linked Savings Account), any discounts or special rates or offers, or additional benefits and services available and apply the standard rates and charges (details of the standard Account rates and charges are available on request) on giving You no less than 30 days notice in writing if:
32.3.1 You fail to pay the required minimum monthly credit into Your Account;...

If you don't need free overdraft and travel insurance it is better to close account or downgrade it to Young Worker Account.

realaledrinker

In my experience, A&L flatter only to deceive.

What's their customer service like?

They enticed us in with their market leading ISA, slashed the rate, then charged us 2x£25 for the privilige of taking our money elsewhere.

They enticed us in with a market leading children's account, then closed the account & reduced the interest rate by 30% in one fell swoop.

Sound familiar?

Stick to banks like smile & FD who offer terrific service as well as consistently decent rates. Smile are offering £25 if you open an account & pay in your salary or £1000 if that type of incentive is so important to you.