Current Account for Widowed Pensioner

sloughflint

Razoo wrote: »

I think I'll call A&L to see whether they will send monthly paper statements for the Premier Direct, or not.

Fingers crossed. It would be a shame if they didn't.

Razoo

Razoo wrote:

I think I'll call A&L to see whether they will send monthly paper statements for the Premier Direct, or not.

sloughflint wrote: »

Fingers crossed. It would be a shame if they didn't.

I spoke to A&L today and unfortunately they won't send out monthly paper statements for the Premier Direct Account.

However, they will send out a paper statement at any time if requested, for a fee of £5.00.

Razoo

sloughflint

:eek:
That would wipe out a fair proportion of her monthly interest if she kept 2.5k in there.

My recommendation would be the following:
Current account:
A&L Premier account paying a straight 1%. Not fantastic but branch, phone and PO access plus monthly statements.
( the attractive Premier Direct's rates would revert to BOE minus 1 after a year anyway)

Savings spread between:
1. KE @6.5%. Phone access ( or web with your help). 3 days to transfer between nominated current account.

2. Plussaver automatically opened with current account @5.25% ( reverting to 4.5% after 30.09.09). Instant access via phone ( or web with your help).

optional 3. Direct Saver @5.5% ( minimum 1k and withdrawal restrictions). 1 day to transfer to current account.

Razoo

sloughflint wrote: »

:eek:
That would wipe out a fair proportion of her monthly interest if she kept 2.5k in there.

My recommendation would be the following:
Current account:
A&L Premier account paying a straight 1%. Not fantastic but branch, phone and PO access plus monthly statements.
( the attractive Premier Direct's rates would revert to BOE minus 1 after a year anyway)

Savings spread between:
1. KE @6.5%. Phone access ( or web with your help). 3 days to transfer between nominated current account.

2. Plussaver automatically opened with current account @5.25% ( reverting to 4.5% after 30.09.09). Instant access via phone ( or web with your help).

optional 3. Direct Saver @5.5% ( minimum 1k and withdrawal restrictions). 1 day to transfer to current account.

Thanks for your advice. I've discussed the options with the lady, and we're going to grab A&L's 8.5% for a year There's three us able to carry out an internet transaction or download a statement for her if necessary, so there shouldn't be a problem.

She will also use the A&L Plussaver account and open a high interest account with KE. We'll review the situation again in about a year's time.

Razoo