Finance Choices
Alliance & Leicester Premier Plus Current Account
The Alliance & Leicester Premier Plus Current Account
The Premier Plus account was voted Best Current Account 2005 by Moneywise Magazine and offers 50 times more interest than some other banks offer- 5.00% AER (fixed until 30/09/06)1 on balances up to £2,500. Interested? Then read on.
5% AER, that's amazing but what else do I get?
If you are 21 or over, can pay in at least £1,000 per month and use Internet Banking regularly you will also benefit from:
Summary
If you are 21 or over and can pay in at least £1,000 per month, the Premier Plus account could be for you! Alliance & Leicester are offering a market leading interest rate of 5.00 % AER and the lowest overdraft rate on the high street - 0% EAR ? PLUS £25 Cashback when you buy online!
Apply now
The Premier Plus account was voted Best Current Account 2005 by Moneywise Magazine and offers 50 times more interest than some other banks offer- 5.00% AER (fixed until 30/09/06)1 on balances up to £2,500. Interested? Then read on.
5% AER, that's amazing but what else do I get?
If you are 21 or over, can pay in at least £1,000 per month and use Internet Banking regularly you will also benefit from:
- No hassle account switcher service to make it easier to move from your existing bank. - Setting up a new bank account is usually a turgid affair but the Premier Plus account makes it easy and straightforward.
- 0% overdraft for 12 months from account opening, 7.9% EAR typical (variable) thereafter - A superb overdraft facility should your finances be temporarily stretched.
- FREE annual worldwide travel insurance currently worth up to £80 (upper age limit 65 applies)
- 0.10% AER (variable) on balances over £2,500
Summary
If you are 21 or over and can pay in at least £1,000 per month, the Premier Plus account could be for you! Alliance & Leicester are offering a market leading interest rate of 5.00 % AER and the lowest overdraft rate on the high street - 0% EAR ? PLUS £25 Cashback when you buy online!
Apply now
posted by Barbara Gordon at 12:00 PM
Alliance & Leicester Premier Plus Current Account
6 Comments:
I changed from First Direct to Alliance and Leicester Premier Plus Account in November. I was tempted by the 5% on any credit balances up to £2500. First Direct pays you 2% on credit balances unless you fall below £1000 at any point in the month then it drops to a terrible low of 0.1%.
I was also impressed by the free travel insurance package which both my partner and I have as we have a joint account. £48 will extend the travel insurance to cover our children for as many trips as we like in the year. With all these cheap holidays at the moment (www.cheapflights.co.uk) we could be jetting off again soon - but I digress.
Although I opened the account in November it wasn't until February that I had resolved all the problems with transferring all our direct debits and standing orders. I know they are meant to do that all for you but we had two which didn't get transferred and major problems with getting them set up and having to write cheques for the missed payments.
You might think that transferring a current account always incurs problems but when I changed from Natwest to First Direct 9 years ago it was done without a hitch.
I also miss First Direct's high standard of customer service.
However, I have made lots of money in interest and savings from the travel insurance offer. I guess you win some you lose some.
Another thing I find annoying about Alliance and Leicester's online banking is that the current balance displayed on the opening statment page isn't necessarily the same as your "running balance" when you expand your statement. I find that very confusing.
Anyway, overall I am pleased with my new Alliance and Leicester account. If you would like to join up make sure you do it online or over the phone to get a bonus £25...
Background
I travel a lot and was sick of paying over £110 per year for travel insurance, so was very pleased to hear that A&L were offering free travel insurance if you agreed to pay in £500 per month, hence I ran down to the nearest branch and opened a Premier Current Account
Perks
*Free travel insurance which in may respects was better than the one I was paying for.
*Interest free overdraft of upto £2500 for twelve months, with one set up as standard set at £250.
*A reasonably good rate of interest for a current account.
Experience of Opening the Account
Other than when I opened my kids bank accounts year ago this was the most painless experience ever! They asked for some ID, filled out a few forms on screen and gave me a paper one to fill in, all in all the manager was very helpful and the process lasted about 15 minutes. Even when I mentioned this was going to be my secondary bank account and I would only be paying in the minimum the level of service was still excellent.
During the process I also opened a money back visa card account, it pays back 0.5% off all purchase prices.
After opening the account the opening pack, cheque book and card all arrived within about 7 days, with the credit card arriving slightly later.
Banking experience
With A&L you can use any of the Link cash points, for withdrawls and balance transters. You can also use the card abroad which I have done on several occasions, although its worth checking the fee which is being charged for this as they are not the cheapest.
You can pay money in via post, at their branch or at any post office. This means its far more flexible than any Internet bank I've come across, and is also accessible in rural areas which only have sub post offices.
Their telephone banking service is fairly standard, and the internet banking service offers all the basic services you'd expect. My only gripe is the fact you get three balances, one which has your balance, another the available balance then some other odd one. This can serve to confuse, but if you stick to the 'available balance' as being your guiding light then you should be safe.
Overall
A very fast, quick and friendly service, with good perks and whats more you only need to pay in £500 per month which is better than most other banks. Also unlike some of the bigger high street banks there are no charges if you remain in credit or within your overdraft limit.
I applied for the Alliance & Leicester Premier Plus account yesterday and after spending five minutes filling in the form online I received an email a few minutes later saying that I'd been accepted.
After the long process of signing up with other banks this was great and I'm looking forward to the superb interest rate on this current account.
I haven't had to use many services from Alliance & Leicester but I'm happy with the 5% current account and the 10% regular savings account.
I'm not happy with the way they have screwed up the download to Microsoft Money feature on their internet banking.
Very hppy with Alliance & Leicester. I opened an account in January and both my daughter and I got our £50. Since got another £50 when a friend opened her account.I now have card with good limit (all stoozed), £2000 0% overdraft (again stoozed), just moving this years ISA, online saver2 for stooze money, and regular saver at 10%......all because of finding this site in December and getting advice from members here and reading Martin's tips and articles...A@L may be useless to others but so far they have been fine with me.
Very happy with A&L, I have been with them for 24yrs, previously giro bank. I am not a loyalist, I change suppliers often, but I have never needed to change my bank - yet- . Online baking is so easy, I have a current account, I use online saver and have my ISA. Customer service has always been impeccable.
Very happy to recommend.
Jiggly
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