Alliance and Leicester Premier Direct Current Account
The Alliance and Leicester Premier Direct Current Account gives you a market leading current account in return for managing your money online. 8.5% AER on balances up to £2,500 and the lowest overdraft rate on the high street - No interest or usage fees on agreed overdrafts for first 12 months (0% EAR typical overdraft). After 12 months, 0% overdraft continues but a usage fee of 50p a day (£5 max per month) applies if agreed overdraft is used. Max overdraft limit is £2,500
 |  Compare Alliance and Leicester Premier Direct Current Account details directly with other current accounts or compare current accounts using our current account comparison tables. | ||
| Company: | Alliance & Leicester www.alliance-leicester.co.uk | ||
| Product: | Premier Direct Current Account | ||
| Apply via this site: |  | ||
| Application Criteria | |||
 Minimum income: | There is no minimum income required to open this account. | ||
| Minimum Monthly Credit: | A minimum of £500.00 credited to the account is required. | ||
| Minimum Investment: | There is no minimum investment required, however interest is calculated from £1. | ||
| Maximum Investment: | Unlimited | ||
| Minimum Age: | The minimum age to open this account is 21 years. | ||
| Maximum Age: | Unlimited | ||
| Existing Customer Only: | This account is not available to existing customers only. | ||
| Area Restrictions: | There are no area restrictions. | ||
| Transfer Assistance: | Premier Switching Service Alliance & Leicester offer a hassle free switching service, the Premier Direct Switching Service, and subject to additional checks and verifications Alliance & Leicester will also : - match the customer's overdraft with their old bank - not charge any fees if the customer goes over drawn without authorisation during the switching process - give the customer a £250 minimum overdraft | ||
| Incentives | |||
| Account Promotions: | Linked PlusSaver Account Premier Switching Service Premier customers who take out Buildings and Contents cover will receive 50% off their contents insurance and £25 M&S vouchers. If Alliance and Leicester are unable to beat the customer's motor insurance renewal quote, the customer will receive a year's free cover and free breakdown cover. As a limited special offer for Premier customers, foreign currency can be sent abroad for a reduced fee of £10. £25 recommend a friend cashback. Premier Regular Saver: available exclusively to new Premier Current Account customers only. Guaranteed Capital Account - investment account exclusively available to Premier customers. Save & Protect Account - exclusive to Premier current account customers when also taking out Legal & General non-mortgage related Life Cover, Life or Critical Illness Cover or Critical Illness Cover. MoneyBack Rewards Credit Card available (subject to status). Exclusive mortgage deals for Premier customers. Special loan offers for Premier customers. | ||
| Incentive Cashback £: | This incentive is not offered with this account. | ||
| Incentive Moneyback: | There are no moneyback incentives with this account. | ||
| Incentive Pref Rate/Deals: | Linked PlusSaver Account- Available to Premier Direct, Premier and Alliance & Leicester mortgage customers only. Premier Direct customers will automatically receive a PlusSaver account. Guaranteed Capital Account - investment account exclusively available to Premier customers. Save & Protect Account - exclusive to Premier current account customers when also taking out Legal & General non-mortgage related Life Cover, Life or Critical Illness Cover or Critical Illness Cover. MoneyBack Rewards Credit Card available (subject to status). Special deals on personal loans through Premier Loans. Exclusive mortgage deals for Premier customers. | ||
| Incentive Disc/Vouchers: | There are no discount or voucher incentives with this account. | ||
| Incentive Breakdown: | There are no breakdown incentives with this account. | ||
| Incentive Protection: | There are no protection incentives with this account. | ||
| Incentive Other Insurance: | There are no other insurance incentives available. | ||
| Incentive Savings Sweep: | There are no savings sweep incentives with this account. | ||
| Incentive Currency: | As a limited special offer for Premier customers, foreign currency can be sent abroad for a reduced fee of £10. | ||
| Incentive Other: | If the customer switches their current account to the Premier Direct Current Account they will receive a minimum £250 overdraft, no charges on authorised or unauthorised overdrafts during the switching process and Alliance & Leicester will match the customer's overdraft at their previous bank, subject to further checks and verifications. As a limited special offer for Premier customers, foreign currency can be sent abroad for a reduced fee of £10. | ||
| Facilities | |||
| Internet Banking: | Internet banking is compulsory to open this account. Through internet banking the customer can access their current and savings accounts online, plus receive total support from a 24 hour helpdesk. With Internet Banking the customer can: - Check their transactions and balance (as far back as 7 months) - Transfer money between their Premier Plus Current Account and PlusSaver Account - Set up bill payments - View statements and download them onto your PC - View and cancel Direct Debits - Set up, amend and cancel standing orders - View details of any charges due to be applied to your account | ||
| Branch Banking: | Branch banking is not offered with this account, although withdrawals of over £250 can be made at a branch counter. No other transactions can be made at an Alliance & Leicester branch. Withdrawals can be made at a Post Office branch. | ||
| Telephone Banking: | Telephone banking is available 24 hours a day 365 days a year. The services available are as follows:- - Request current balance - Request details of uncleared credits - Request details of uncleared debits - Hear the last 12 transactions - Set up bill payments (person to person service only) - Make bill payments - Set up transfer of funds details (person to person service only) - Transfer funds to other Alliance & Leicester accounts - Request a copy of the last statement - Request chequebook (subject to account status) - Request Transfer/Deposit books - Request envelopes - Request product literature on other Alliance & Leicester services | ||
| Post Office Banking: | Customers can make the following transactions at a Post Office branch: withdraw funds and check their balance using their card and PIN, make a cash deposit using their card and pay in cheques with a personalised paying in slip and deposit envelope from their Bank. | ||
| Standing Orders: | Standing order facilities are available. | ||
| Direct Debits: | Direct Debit facilities are available. | ||
| BACS Transfers: | Electronic/Telegraphic transfer service is available. | ||
| CHAPS Transfers: | Electronic and telegraphic transfers are available at a charge of £30. | ||
| Bill Payment Service: | Bill payment service is available. | ||
| Statement Frequency: | Paper statements are issued on request for a monthly fee. Monthly statements are available and free online. | ||
| Min Additional Deposit: | Unlimited | ||
| Minimum Withdrawal: | Unlimited | ||
| Withdrawal Restrictions: | Withdrawal Conditions - Withdrawals over counter must be minimum £250. | ||
| ATM Card: | An ATM card is available. | ||
| ATM Mini Statements: | Mini statements are available through the ATM. | ||
| Max ATM Withdrawal: | The maximum amount that can be withdrawn through an ATM is £250.00. | ||
| Cheque Book: | A cheque book is available. | ||
| Cheque Guarantee Card: | A cheque guarantee card of up to £100 may be issued subject to status. | ||
| Cheque Clearance Time: | Branch- 5th working day Post Office- 4th working day after receipt of cheque By Post- 4th working day after receipt of cheque Cash Machine before 2pm- 5th working day Cash Machine after 2pm- 6th working day | ||
| Debit Card: | A VISA debit card is available. | ||
| Debit Card Type: | A VISA debit card is available. | ||
| Passbook: | A passbook is not issued when this account is opened. | ||
| Text Messaging Events: | There are no text messaging facilities available. | ||
| Text Mini Statements: | Text message mini statements are not available, although customers can see mini statements through mobile banking. | ||
| Travel Ins Winter Sport: | There is no travel insurance incentive offered with this account. | ||
| Overdraft | |||
| Overdraft Facility: | Overdraft facilities are available subject to status. | ||
| Interest Free O/D Limit: | Maximum overdraft limit is £2,500. No interest or usage fees on arranged overdrafts, for the first 12 months, from account opening, (not including customers who are moving from another Alliance & Leicester current account). After 12 months, the 0% overdraft continues, but a daily usage fee of 50p a day (up to £5 a month) applies, if the arranged overdraft is used. £2,500 is the maximum overdraft limit and not an automatic limit. | ||
| Automatic O/D Facility: | There is no automatic overdraft facility available. | ||
| Overdraft Buffer Limit: | There is no overdraft buffer limit. Customers who are switching their current accounts to Alliance & Leicester will not be charged any fees for authorised or unauthorised overdrafts during the switching process. | ||
| Overdraft Arrangement Fee: | There is no arrangement fee or monthly fee to pay. Fixed Term overdrafts carry an administration fee of £25. This is in addition to the interest charged on the overdrawn balance. | ||
| Auth O/D Rate-APR/EAR: | The annual authorised overdraft rate is 0% EAR. | ||
| Mthly Auth O/D Charge: | There is no monthly authorised overdraft administration fee for the first 12 months from account opening. Thereafter, there is a daily fee of £0.50 per day the account is overdrawn, capped at £5 per month. | ||
| Unauth O/D Rate-APR/EAR: | The unauthorised overdraft rate is 0% EAR. | ||
| Mthly Unauth O/D Charge: | There is no monthly unauthorised overdraft charge. | ||
| Overdraft Letter Charge: | There is no charge for an overdraft letter. | ||
| Rates | |||
| Headline Interest Rate: | The headline interest rate is 8.50% AER. | ||
| Rate Guarantee: | At the end of the fixed rate period, on balances up to £2,500, the interest rate reverts to Bank of England Base Rate less 1% | ||
| Introductory Bonus: | No introductory bonus payable. | ||
| Amount of Bonus: | The bonus amount is - 0% | ||
| Open-ended Bonus: | No open-ended bonus payable. | ||
| Non Standard Tiers: | Gross Rate Gross Rate AER Excluding Bonus Including Bonus £1 8.19% 8.19% 8.50% £2,501 0.10% 0.10% 0.10% | ||
| Gross AER - £1/£50: | 8.50% | ||
| Gross AER - £500: | 8.50% | ||
| Gross AER - £1,000: | 8.50% | ||
| Gross AER - £2,500: | 8.50% | ||
| Gross AER - £5,000: | 0.10% | ||
| Gross AER - £10,000: | 0.10% | ||
| Gross AER - £25,000: | 0.10% | ||
| Gross AER - £50,000: | 0.10% | ||
| Gross AER - £100,000: | 0.10% | ||
| Interest Payment Freq: | Interest is paid monthly. Calculated daily: cash- same day electronic money transfer- next working day after receipt cheques- 4th working day | ||
| Interest on Withdrawal: | Interest is calculated daily up to and including the day before withdrawal. | ||
| Int Added to Account: | Interest can be added to the account. | ||
| Interest Paid by Cheque: | Interest cannot be paid by cheque or warrant. | ||
| Int Paid to Bank A/c: | Interest cannot be paid to a bank account. | ||
| Int Paid to Other A/c: | Interest cannot be paid to another account. | ||
| Int After Cash Deposit: | Interest is calculated from the first working day after receipt into the account. | ||
| Int After Cheq Deposit: | Interest is calculated from the three working days after receipt for cheques. | ||
| Int After BACS Deposit: | Interest on electronic money transfers is paid on the next working day after receipt. | ||
| Interest Variant: | No | ||
| Max Balance High Interest: | The maximum balance for high interest is £2500. | ||
| Fee & Charges | |||
| Free Banking: | Free banking is available. | ||
| Monthly Charge: | There is no monthly service charge. | ||
| Standing Order Charge: | There is no charge for payment of a standing order mandate. | ||
| S/O Setting Up Charge: | There is no charge for setting up a standing order mandate. | ||
| S/O Amendment Charge: | There is no charge for amending a standing order mandate. | ||
| S/O Cancellation Charge: | There is no charge for cancelling a standing order mandate. | ||
| Unpaid S/O Charge: | The charge for an unpaid standing order is £25.00. | ||
| Direct Debit Charge: | There is no charge for payment of a direct debit mandate. | ||
| Debit card charge Europe: | There is no debit card charge abroad in addition to the conversion fee of 2.95% of the sterling value of the transaction. | ||
| D/D Setting Up Charge: | There is no charge for setting up a direct debit mandate. | ||
| D/D Amendment Charge: | There is no charge for amending a direct debit mandate. | ||
| D/D Cancellation Charge: | There is no charge. | ||
| Unpaid D/D Charge: | The charge for an unpaid direct debit mandate is £25.00. | ||
| CHAPS Charge: | The charge for Electronic/Telegraphic transfers is £30. | ||
| Stopped Cheque Charge: | The charge for a stopped cheque is £10. | ||
| Unpaid Cheque Charge: | The charge for an unpaid cheque is £25.00. | ||
| Transaction Charge: | No charge is made for standard banking transactions on this account. | ||
| Unauth Transaction Fee: | If the customer exceeds their overdraft limit or goes overdrawn when they do not have a limit, an Exceeding Overdraft Limit Fee of £5 per day will be applied. This fee is applied for each day the account is in unauthorised overdraft. If a transaction is presented for payment and there is not enough money in the account to cover the amount of the transaction, Alliance & Leicester will decide whether to make a payment. If this happens, a Payment Review Fee of £25 will be charged for each transaction. | ||
| ATM Withdrawal Charge: | Customers may make withdrawals from any ATM in the LINK network free of charge. Non-Link ATM withdrawals will incur a 2% (£2 minimum) fee. | ||
| ATM charge Europe: | Cash withdrawals abroad subject to a 2.00% (min £2.00) cash advance charge in addition to the conversion fee of 2.95% of the sterling value of the transaction. | ||
| A/c Transfers Int. Free: | 0% EAR typical overdraft. No interest or usage fees on arranged overdrafts, for the first 12 months, from account opening, (not including customers who are moving from another Alliance & Leicester current account). After 12 months, the 0% overdraft continues, but a daily usage fee of 50p a day (up to £5 a month) applies, if the arranged overdraft is used. Maximum overdraft limit is £2,500. | ||
| Bankers Draft Charge: | The charge for a bankers draft is £10. | ||
| Bankers Reference Charge: | A bank reference charge of £10. | ||
| Copy Cheque Charge: | A charge for a copy of a cheque is £10. | ||
| Duplicate Stat Charge: | The charge for a duplicate cheque is £5. | ||
| Special Clearance Charge: | The charge for cheque special clearance is £10 per item. | ||
| Forex fee % Europe: | There is a 2.95% conversion fee for transactions abroad. | ||
| Other Charges: | Under-funding fee (failure to pay the minimum monthly credit) - £5 per month Charges for using MONILINK Mobile Banking: Registration for MONILINK Mobile Banking - free Balance enquiry - £0.20 Mini statement (last 6 transactions) - £0.25 | ||
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| Products: | www.allianceandleicester.co.uk Current Accounts | ||
