Alliance & Leicester closing passbook accounts - RIP OFF!!!!

lestamunda

My parents have an account with Alliance & Leicester. It is a basic savings account which gives them a book and access to withdrawals via their counter service.

Many elderly people like the feeling of a book and going to a person for withdrawals and book updates.

A & L have now said they will be closing all book accounts in future. Everytime anyone goes into a branch with their book, they are now being asked to close this account and start a new card account. They are told book accounts are being phased out and their head office will write to everyone soon - it would therefore be easier to close the accounts now and switch to their new card product. I have called their HO and spoke to Padmina (having previously spoken to Kayal Patel at their Evington Road, Leicester branch). Both Kayal and Padmina agreed and said books are being phased out in favour of cards.

I have a major problem with this! The new card account will actually charge for counter withdrawals! Clients are being pushed to cashpoints.......something the elderly hate with a vengeance. Next, how can a major financial institution take back and close accounts they have offered in the first place. Finally, does this mean A & L require no more branches (they seem happy to cross sell at every counter visit!).

:mad:

jazzyjustlaw

I have my main account with A & L but I do not know for how much longer. Its just I cannot be bothered to change all the D D's.

I went into a branch a few weeks ago to close my savings account with them because the stopped paying me interest. I asked for alternatives and they asked me to phone up. I said that if they could not offer me an alternative there and then I would go elsewhere. She indicated she wasnt bothered. I have been into Lloyds to open a savings account and they cannot be bothered either. So I put it into an existing account. I wish we didnt have to use banks and that we could use some other vehicle. They can do what they like with our accounts, charge us what we like and now it seems charge is for taking our own money out.

If anyone has an idea of how we can fight back against banks let me know and count me in.

realaledrinker

Moved my kids' savings out of A&L a couple of months ago when they made it clear by slashing their rates that they weren't interested in the next generation of savers.

A&L are making it plain that they see no future in such old fashioned notions as "branches" or "service".

Avoid.