A&L regular savings accout 12%APR

wooders

Guys/Girls

Been looking at this one, it says you have to open a current account with them too with a minimum £500 per month.

Not a problem so far, but ,

does this have to be a salary? (can I just deposit £500 pm?)

If it has to be a salary can it be a joint account (ie keep my salary in my own bank, but have the wifes go into it)

I don't think the website is very clear on this

The_Fiddler_2

It doesn't need to be your salary, just a transfer of £500 per month.

wooders

are you doing it?

The_Fiddler_2

Yes, that is how I fund the account.

The_Fiddler_2

You could aslo recycle the money by transfering it across and back each month - I don't do this, I fund a couple of regular savers from it (one being the A&L although my year is almost up for that)

wooders

cheers fiddler

LongTermLurker

The_Fiddler wrote: »

It doesn't need to be your salary, just a transfer of £500 per month.

First post - decided to show my face after "hanging about" I thought when I first read this thead that it had to be your main salary. It seems you can open the Current Account with any old £500, but...

"Premier Current Account must be credited with £500 p/month or fees may be applied; and funded with main income or Premier Regular Saver account may be closed." See http://www.alliance-leicester.co.uk/currentaccounts/index.asp?page=prem-legals&currpage=premier for details

I wouldn't run the risk. I'd be a bit p'd off if I stuck £3k away and had the account closed in month 11 on a technicality. Of course, there's no reason why you couldn't move your salary to A&L and then set up a standing order to move it out to one paying more interest.

flossy_splodge

LongTermLurker - do you mean a current account paying more? I thought this was pretty much the best there is? Or did you mean move the money to an even higher rated savings account? Just interested as I applied last night for the premier direct and got an email to say have been accepted so now worrying if there was a better deal out there!

YorkshireBoy

flossy_splodge wrote: »

LongTermLurker - do you mean a current account paying more? I thought this was pretty much the best there is? Or did you mean move the money to an even higher rated savings account? Just interested as I applied last night for the premier direct and got an email to say have been accepted so now worrying if there was a better deal out there!

The current account being discussed is the 1.5% paying Premier account, not the 8.5% paying Premier Direct account you have applied for.

flossy_splodge

Oh thanks Yorkshire Boy, hadn't picked up on that.x:T

LongTermLurker

YorkshireBoy wrote: »

The current account being discussed is the 1.5% paying Premier account, not the 8.5% paying Premier Direct account you have applied for.

And thus, having the Premier Direct account, you can't have a 12% regular saver as well. In my view (and other people's circumstances may be different) I don't keep a lot of money in a current a/c for a long period, so to my mind the better offer is Premier A/C + the 12% regular saver.

And btw, just got a letter this morning to say the 1.5% Premier a/c is now the 1% Premier a/c...