Has anyone got an online savings account with Alliance & Leicester?

[ssd]

am thinking of applying for one, but not going into a bank seems wierd, I do bank on line but haven't got a solely on line account< any advice?

yes i have. Got it coz it had a fantastic rate of interest. Which then promptly went down to a 'same as everyone esle' rate of interest lol. Still got it.

I just moved from Lloyds to Alliance and leicester becasue their charegs/rates were so much better it was a joke. I had a savings account with them for some time beofre that but its been years since I went into a branch so I wasn;t worried about that. You can still go into a branch if you want to I think - they've certainly offered me appointments to talk to someone if I want.

I may get a referral fee if you are planning to open a certian type of account £25 each for you and me both so if you decide to go ahead CAT me and i'll fill my form in!

I've got quite a few online savings accounts. Hadn't really occurred to me that it was odd not having a branch.

Yes, I have it too- makes absolutely no odds to me not to be able to go into a branch. With the A&L account you can pay cash into your account at any post office.

I also have an online account with nationwide and much prefer that tbh.

I know this sounds daft, am thinking of opening one (will remember you kew!), but how do I transfer money into it? do I send off a cheque or something? just seems safer going into a bank and handing my money over instead of sending it into cyber space!

Do you have access to online banking? You can set it up that way. Or you can pay into it using your debit card (egg works that way). Or you can sned a cheque in the post I think

it would just feel like I'm paying the money into space!

do you get written confirmation or any letters at all?

You get emails to say account opened and usually confirmed by post (they will prob need some id) Other than that, it's all smoke and mirrors

I have recently opened an A&L account. I have an online current account and a saving account. While all my banking was in the process of being changed I just took cheques to be paid in straight into the local branch without any problems.

Alliance and Leicester are being a bit crap at the moment. I think that they are being swamped with people opening the new savings account, as they are taking forever to sort out the paperwork, and leave you on hold on the phone (while making money from the call ).

LOL at Emco:
"yes i have. Got it coz it had a fantastic rate of interest. Which then promptly went down to a 'same as everyone esle' rate of interest lol. Still got it."
I've got THREE for the same reason. Every time they started a new account with a better rate, I changed over. Then they'd start new ones with the same names, so you couln't tell what rate you were on.
But now you can check the exact rate your meagre savings is getting by typing in the number of you account. So at least I know where I stand.
And I should be glad to have such a problem. At least the interest is coming to me, rather than the other way round.

I've been with A&L for 20+ years and am just changing to another bank for various reasons. They used to be very quick with answering the phone but sadly the last few years have been a joke.

Also they charged me £200 for being overdrawn over a period of a month of last year and dispite me explaining that it was wrong (ie I wasnt overdrawn until they applied this charge!) they refused to admit it, I had statements to back it up but they dont make mistakes apparently
I got a refund when I threatened to leave them

Mrs. W

They changed their charging system for going overdrawn fairly recently. It used to be a IMO very fair method, simply a high interest rate on the overdrawn balance. Now its a punitive £25 a day. Maybe not that much, but enough to make me think of moving. But where to?

I don;t mean £25 is not much, I mean it's probably "only" £5 a day.

Yes they charged me £200 worth of £25s. The letter telling me about the first charge arrived over 3 weeks after the charge was applied. They kept charging for the OD that they had caused. I got it sorted in the end. I now bank with a local branch of Lloyds bank mainly so that if I have a query I can deal with then face to face although I do mainly use the online syetem and they are very helpful and quick to answer the telephone.

So Mrs.W, you threatened to leave if they didn't refund you, then they refunded you. Then you left anyway.

This thread has reminded me, I really should get off Mumsnet and move my bank account.

Yes choccypig thats about right

although I think I said "well I will have to look at moving my bank account then" this was in response to them saying it wasnt their error as they dont make mistake! I then received a letter telling me they had made an error and refunded the charges

Too little too late IMHO they kept me hanging on the phone for ages too!

Am concerned about the £25 a day. Is that over and over draft or just overdrawn. I thought it was 50p a day????

Just overdrawn I think.

I also have an A&L savings and current account. I have just checked and it is 50p per day to be overdrawn, (authorised), to a maximum of £5 per month. The £25 charge is a "payment review charge", for going into unauthorised overaft plus a £5 per day charge. See here. Thought this might help.

thanks helenn.

I was mad enough with them when I incurred £2.50 when I went 42p (yes 42p!!)overdrawn for five days. I have now learnt to look at my A&L account and fund it properly but it makes me fed up.