Jump to content
House Price Crash Forum
Sign in to follow this  
scud

Online Saver Issue 5 - Allaince & Leicester

Recommended Posts

I just wondered whether anybody has had problems closing their Online Saver Issue 5 account with the Alliance & Leicester. They say there is a software problem & I won't be able to close it for another month. Apparently its because I had nominated a bank account from which to tranfer cash from & to. Funny thing is I set my wife's account up with the same nominated account & they closed hers ok. Maybe Santander are so hard up they need to hang on to my £400!!

Share this post


Link to post
Share on other sites

I just wondered whether anybody has had problems closing their Online Saver Issue 5 account with the Alliance & Leicester. They say there is a software problem & I won't be able to close it for another month. Apparently its because I had nominated a bank account from which to tranfer cash from & to. Funny thing is I set my wife's account up with the same nominated account & they closed hers ok. Maybe Santander are so hard up they need to hang on to my £400!!

That's interesting Scud. I applied to close mine yesterday, but they didn't mention any sofware problem. Mind you, I'm transferring the funds to another Santander account so maybe they'll release the funds.

Share this post


Link to post
Share on other sites

I just wondered whether anybody has had problems closing their Online Saver Issue 5 account with the Alliance & Leicester. They say there is a software problem & I won't be able to close it for another month. Apparently its because I had nominated a bank account from which to tranfer cash from & to. Funny thing is I set my wife's account up with the same nominated account & they closed hers ok. Maybe Santander are so hard up they need to hang on to my £400!!

That's a weird reason for them to give.

I had a few problems dealing with them on the phone. I went into a branch of A&L and they dealt with it very efficiently.

Share this post


Link to post
Share on other sites

Dunno, but I've got one of these that I emptied last month so I'll give it a try and report back.

Actually, do I need to call them? Please tell me I don't. Ringing them is a stuff of nightmares.

Share this post


Link to post
Share on other sites

Dunno, but I've got one of these that I emptied last month so I'll give it a try and report back.

Actually, do I need to call them? Please tell me I don't. Ringing them is a stuff of nightmares.

No,if you phone them it takes at least 30 minutes to get through & then they tell you to go to a branch. I'm surprised I seem to be the only one with the problem. I thought I'd get loads of responses.

Share this post


Link to post
Share on other sites

No,if you phone them it takes at least 30 minutes to get through & then they tell you to go to a branch. I'm surprised I seem to be the only one with the problem. I thought I'd get loads of responses.

Ah, cheers. Looks like I'll be sacrificing a lunchtime or two next week then (two as the first time I attempt it I'll end up waiting an hour before giving up in disgust)

I sent them a 'secure message' on the 8th requesting they close the account, dunno if that'll work. Their Internet banking is down now so I can't see if they've responded.

Share this post


Link to post
Share on other sites

Ah, cheers. Looks like I'll be sacrificing a lunchtime or two next week then (two as the first time I attempt it I'll end up waiting an hour before giving up in disgust)

I sent them a 'secure message' on the 8th requesting they close the account, dunno if that'll work. Their Internet banking is down now so I can't see if they've responded.

Let me know how you get on. I'm still waiting for them to phone me to tell me I can close it!!

Share this post


Link to post
Share on other sites

Let me know how you get on. I'm still waiting for them to phone me to tell me I can close it!!

I've had an online saver 5 for just over a year now. As the bonus rate will now have expired I've moved all but £1 into a better paying account. Once the annual interest is payed (which is supposed to be on 1st October) I'll move that out as well (again leaving £1 in). The idea behind leaving £1 in is that I've heard people have had problems transferring out the full balance - maybe because it has a minimum balance rule imposed upon it or something.

I'm still not sure if I'm even going to bother to try to close it, or just leave the pound in to rot. Again like you've experienced I've heard people have had trouble closing their account and am not sure it's worth the hassle. I can't see any harm in leaving the account unused - they can close it and take the pound if they want :P

Share this post


Link to post
Share on other sites

I've closed mine & Santander sent me a cheque (even though I had a linked account & confirmed they would transfer the money into the linked account (a different bank), which really bugged me - loss of interest, etc. However, it does appear that they have paid me the interest due, as against having to wait until October. (I checked the interest due on mse tools)

But, what the heck do I do with the money now - I got so many damn accounts now - I can't find another bank paying over 2% thats not already linked with another bank I'm already using. This is definitely not funny

Edited by Muskoka

Share this post


Link to post
Share on other sites

I've had an online saver 5 for just over a year now. As the bonus rate will now have expired I've moved all but £1 into a better paying account. Once the annual interest is payed (which is supposed to be on 1st October) I'll move that out as well (again leaving £1 in). The idea behind leaving £1 in is that I've heard people have had problems transferring out the full balance - maybe because it has a minimum balance rule imposed upon it or something.

I'm still not sure if I'm even going to bother to try to close it, or just leave the pound in to rot. Again like you've experienced I've heard people have had trouble closing their account and am not sure it's worth the hassle. I can't see any harm in leaving the account unused - they can close it and take the pound if they want :P

Well that's the problem. The bonus rate expired in July for me (in for a year) & the account does not show interest accrued. So even if I leave £1 in it they still have the interest. Its only on closure that interest is paid.

Share this post


Link to post
Share on other sites

I've closed mine & Santander sent me a cheque (even though I had a linked account & confirmed they would transfer the money into the linked account (a different bank), which really bugged me - loss of interest, etc. However, it does appear that they have paid me the interest due, as against having to wait until October. (I checked the interest due on mse tools)

But, what the heck do I do with the money now - I got so many damn accounts now - I can't find another bank paying over 2% thats not already linked with another bank I'm already using. This is definitely not funny

I've transferred some of it to Barnsley Building Society paying 2.5%. There's no bonus which pleases me so it wont go down to 0.00001% after a year although it is variable. It's also instant access with no penalties. Some others are paying slightly more but they usually have bonuses or other restrictions. Its ok if you don't mind switching accounts I suppose which I would rather not keep doing so. Im not STR by the way, just looking for a reasonable return

Share this post


Link to post
Share on other sites

Well that's the problem. The bonus rate expired in July for me (in for a year) & the account does not show interest accrued. So even if I leave £1 in it they still have the interest. Its only on closure that interest is paid.

That's very odd. I've had savings a/cs with various high st providers and they all paid the interest on the dot of the annual due date, and showed it on the online statement, with tax deducted.

Never heard of one that only pays interest when you close the a/c.

Was that in the terms and conditions when you opened it?

Share this post


Link to post
Share on other sites

That's very odd. I've had savings a/cs with various high st providers and they all paid the interest on the dot of the annual due date, and showed it on the online statement, with tax deducted.

Never heard of one that only pays interest when you close the a/c.

Was that in the terms and conditions when you opened it?

I didn't check so more fool I. I've had quite a few online savings accounts as well & I've never seen this before either.

Share this post


Link to post
Share on other sites

I've closed mine & Santander sent me a cheque (even though I had a linked account & confirmed they would transfer the money into the linked account (a different bank), which really bugged me - loss of interest, etc. However, it does appear that they have paid me the interest due, as against having to wait until October. (I checked the interest due on mse tools)

But, what the heck do I do with the money now - I got so many damn accounts now - I can't find another bank paying over 2% thats not already linked with another bank I'm already using. This is definitely not funny

I finally closed my account today. Santander started counting out the cash & I said I'm not taking cash as I've been mugged around here before. They said its cash only so I said what if it was £10k, would you insist on cash then. They said no as they only pay cash when it's under £500. So I said, so Santender consider its ok to be mugged for £500 cash but will make a cheque payment for amounts over! Anyway they gave me a cheque in the end but they weren't happy. I will be keeping clear of Santander in future!!

Share this post


Link to post
Share on other sites

I finally closed my account today.

Congrats! I noticed they paid in the annual interest last week so I whipped it out of there ASAP. Still doing battle with them over some charges they've randomly added onto my current account...

Share this post


Link to post
Share on other sites

Congrats! I noticed they paid in the annual interest last week so I whipped it out of there ASAP. Still doing battle with them over some charges they've randomly added onto my current account...

I would move your current account elsewhere. I've been with Nationwide for 30 years & haven't had a problem except for one time when a direct debit went through twice. Best of luck if you're trying to get anything out of Santander!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 245 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.