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I'm currently with the Abbey and have just written my Data Protection Act 1998 letter requesting my bank statements. I've currently got a £2400 overdraft. I've been browsing sites such as moneysupermarket looking for a parachute account and Alliance and Leicester are offering a 1 year interest free overdraft on up to £2500 which sounds pretty good.
I thought you guys would be the best to ask and give me the most honest answers! In your opinion do you think it's a wise move or would you stay well clear in my situation? It's the premier current account that I'm interested in. All of the charges are lower than Abbeys and the interest rates are higher, not that I'm ever in credit!
Now that's a tough one, Coyney. We're all here cos we've got a gripe with A&L!
One bank's as bad as the next in my opinion. You pays your money and takes your chance!
Not too helpful I know, but the best I can offer.
p.s. If it's any more help to you, my own problems with A&L were caused by them not updating my "available balance" quickly enough after making a debit card transaction thereby leading me to think there was more money in the account than there actually was. Drawing on the money which wasn't really there caused me to go o/d, then slap, bang, on went the charges. This happened on more than one occasion so I stopped using the debit card facility and with constant vigilance I've managed to stay in the black. But I constantly live with the fear that I will slip up through no fault of my own - no way to have to run your finances! This is by no means a unique story, I've seen several such complaints on this forum, and my brother has also noticed that they are tardy in updating his "available balance" after transactions.
On paper, A&L look good, their interest rates are also some of the best. Personally, I would never hold any account with them again. They once sent my credit card and pin number to a house down the street as they input my house number wrong. Their customer services is also really shocking.
It's up to you at the end of the day, I've switched to co-op bank. Although they aren't necessarily the best for rates etc, being with an ethical bank who I have a contact name and number for their branch, they also have excellent customer services and that is more important to me. I feel treated like a human being again!
I actually had two accounts with A&L and used my second one as a parachute account and they didn't even notice. From this it seems it might be possible for you to open this account while you are taking them to court over another one.
I agree that there is no one bank that is any more reasonable than another. so go for what makes you more money
yes on paper good bank but very very slow at updating accounts , they take debits & charges before credits , this way the create more of a debit balance this is how we ended up being charged all the time!!
it you want real time banking HSBC are the best at this but again their charges are high (just reclaimed £3600) back from them
hopes this is of help
vicmar
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HSBC Full offer accepted!!£3613.39
(Payment paid into bank 29/01/07)!!
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A & L offer recived in full
account threat of closure
reported to FOS 5/04/07
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Mint offer accepted in full
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Studio Pre lim sent 05/04/07
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MBNA SAR sent
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Awaiting SAR doc from Creation finance
Unless you are always in credit I would forget them. I was lured by an interest free overdraft for 12 months, but closed the account after 7 months because I couldn't afford the charges. I find smile quite good, also part of the co-op, but my parachute, as yet unused, is with Nat West.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
Should you be offered help that requires payment please report it to site team.
Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007
Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06
Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007
Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.
Hi ,i thoroughly recomend that you DONT go with A&L .There customer service is appalling (put phone down on me 2 times , leave you on hold for ages)and as for the £2500 overdraft just beware that they almost certainly wont give you the whole amount. I was paying in between £1500 and £2000 a week and always in credit and i got £350 limit . My mum got £300 and has perfect credit score (better than mine)and good wages coming in. She asked for an increase in the limit but was still only given £2000.
I have had a First Direct account for @3years and can certainly recommend thier customer service.I just happened to enquire (via their online banking message system)if they could explain to me how their O/D fees were levied and within 2days they had refunded my two previous charges without me even asking for them to be refunded. They did actually lower my credit card limit about year ago but you could say thats a good thing !!?.But all in all banks are banks and anyway they can make money out of you they will try(look at their profits ) .Good luck
I would not touch them with a bargepole. They are not fit to be in business at all.Then again, depending on who you bank with, I guess the same could be said of all of them. perhaps we should open our own bank...just a thought!
My advice would be if you bank online go somewhere else, On you online banking system they show 3 different balances and its not updated instantly, hence i ended up with alot of problems and alot of charges....
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Feels like a lost little girl x
I would have to agree with previous posts.
I too have a major problem with the available balance not updating correctly. For example, yesterday I checked online and had one amount, called the telephone banking number and had £30 less, but when I actually spoke to someone the figure they gave me was totally different!
Cheques take an age to clear too, their literature implies that if you bank a cheque on Monday then it will be available on Thursday, this has never been the case............in my experience, the money has not been available until the following Monday, and on more than one occasion, the Wednesday (Meaning that the cheque took 7 working days to clear!).
I am waiting for them to send me details of my charges, but judging on the length of time it takes to send me a copy statement (3 weeks last time!) I will not be holding my breath.
Oh yes, you know the dd indemnity that "all banks that allow direct debits" supposedly subscribe to? A&L don't immediately refund you even you can prove that the error was on either their or the company's part- you have to wait about a week to get YOUR money back. Now, I'm sure it says "a full and IMMEDIATE refund" forgive me if I'm wrong!
Certainly going to be taking my business elsewhere as soon as I can..........I know they all pee in the same pot, but sick of being taken for an idiot by A&L.
Bluerainbow i got most of my statements from internet banking, saved me a lot of time, i know they go back quite a way but not sure how far... there again ive only been with them 10 months
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Feels like a lost little girl x
I got some of mine from internet banking, but they dont go back that far- I have only been with them since June 2004, but can't get back any further than May 2006!
Im glad that im not the only one thats had big problems with A&L and that others here have faced the same problems , i was begining to worry that it was personal. I agree with the previous posts that all banks are basically the same and out to make as much money as possible from you in as easier way as they can, but i can only say that so far First Direct has been fine to me(over 3yrs in which i have struggled finacially at times), have repayed 2 charges to me when i didnt really ask them too,plus there customer service is good(so far!).keep fighting guys
Should I join Alliance and Leicester??
and have just written my Data Protection Act 1998 letter requesting my bank statements. I've currently got a £2400 overdraft
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Re: Should I join Alliance and Leicester??
Re: Should I join Alliance and Leicester??
