Alliance & Leicester e-saver, anyone else having problems opening it ?

Dagobert

Both o/h and myself are existing customers. We were still requested to send proof of id. My application went through. They claim o/h's docs never arrived.

BabyDragon_2

no probs here, all online and no docs needed

tawse57

I have an Online saver with them - thought it was their eSaver - and only by chance browsing the Daily Mail's website this week I discovered that they had reduced the Online saver IR down to 3% about a month ago.

I went online on Monday to open a new account by logging in to my accounts with them and was pretty disgusted to discover that I could not simply open a eSaver account there and then with them and transfer my money over. I had to open the eSaver account as if I was a completely new saver to A&L. So I opened the account and this morning, Saturday, I got a letter through the post with info regarding a new account number.

I have yet to log on to see if both my Online saver and eSaver account are in my same online account so I can, hopefully, simply transfer my money on March 1st, between the old and the new account. If I can't do that easily enough I think I will simply withdraw all my savings.

I mention the above because I partly feel screwed by A&L lowering the IRs, changing online accounts, etc, to catch people out and then not making it easy to move across to the newer higher IR account. Leaves a nasty taste in the mouth so to speak and you just feel that they do not have the best interests of their customers at heart.

Finally, all the online saving accounts lose interest for the entire month in any month that you make a withdrawal from them. Can anyone advise whether it is best to leave my 30K in my Online saver till March 1st at the 3% rate or to move it immediately to the eSaver at the 6.?% rate - in other words, write off the 15 or so days of IR that I have accquired this month on it so far? Thanks.

nicko33

tawse57 wrote: »

Can anyone advise whether it is best to leave my 30K in my Online saver till March 1st at the 3% rate or to move it immediately to the eSaver at the 6.?% rate - in other words, write off the 15 or so days of IR that I have accquired this month on it so far? Thanks.

Without working it out exactly, I think it might just be worth moving it now.
The break-even point might be around the 20th. Beyond that wait until the 1st of March.
It depends what interest you get on the day of the transfer and what they do with the leap-day

e.g. transfer on 20th and lose 19 days at 3% (57) gain 10 days at 6% (60)
assuming you get the full 6% for the 20th-29th

tawse57

Thanks nicko