A&L regular savings accout 12%APR

LongTermLurker

The_Fiddler wrote: »

My salary does not go into my A&L account - I just transfer over the £500 each month, £250 of which goes to the regular saver - there is not a problem with this. I have one payment left to go and have had a partial interest payment already (As per the other A&L thread)

Interesting to know - cheers. I might still move my wage over because I've already transferred a chunk of DDs and I can change my salary instructions easy enough.

Roddydogs - true, but I'm keeping my preferred current account in "standby mode" and will move all instructions back to that after the regular saver's paid up - at least for 3 months anyway

roddydogs

Look at it this way-8.5% interest is nice, but its only on £2500, and you can get 6.5% elsewhere anyway, so over 1 year youll only make about £45 extra in interest, maximum. But if you and a mate join for the £25, then close the account, then 3 months later open another one, you can make £100 each PA

LongTermLurker

roddydogs wrote: »

Look at it this way-8.5% interest is nice, but its only on £2500, and you can get 6.5% elsewhere anyway, so over 1 year youll only make about £45 extra in interest, maximum. But if you and a mate join for the £25, then close the account, then 3 months later open another one, you can make £100 each PA

True - but this thread is about the 12% regular savings account that's available with the (now) 1% premier account, not the 8.5% premier direct.

Your plan seems to revolve around closing and opening current accounts every 3 months ad infinitum - has anyone actually tested their willingness to keep accepting such applicants over such a long period? I reckon if you did that more than twice they wouldn't accept you a third time, but good luck if it works.

flossy_splodge

So do i understand that I've made a boo boo by opening the 'Direct' Premier rather than the lower paying one that you can siphon off to the Reg savings ac from?
Help!:eek:

LongTermLurker

flossy_splodge wrote: »

So do i understand that I've made a boo boo by opening the 'Direct' Premier rather than the lower paying one that you can siphon off to the Reg savings ac from?
Help!:eek:

If you wanted the Regular Saver, unfortunately Yes. And the rules for getting the RS are that you must not have held a current a/c with them for at least 3 months. I think your only way would be to close down your current account and start again in 3 months time

But... Halifax are starting a 10% RS account from Monday which doesn't require you to move your current account, so as long as you don't already have an Hx RS account, that would be your best bet now - and smile because you have an 8.5% current account as well :j

See here: http://forums.moneysavingexpert.com/showthread.html?t=942779