Alliance & Leicester has launched a new version of its Premier Regular Saver account, which offers a whopping 12% in interest. However, it is only available to new Premier Current Account customers, an account that pays just 1.5% on balances in credit. Kevin Mountford assesses how this deal compares with the rest of the market...

Click here to read this article.

Tell us about your best current account and savings account deals. Have you found a great deal that's worth sharing? Click reply to have your say.

---

Community

Hello,

Great deal indeed. I tried to apply on Saturday but I was refused because I have not been in the UK since at least 5 years.

I guess that I have to try another bank like Abbey or HSBC but often on the online applications they require your past adresses for the previous 2-5 years and do not accept adresses from abroad.

I guess that they refuse me because without credit history I am not a trustful customer.

Currently, I am at Natwest offshore - thanks to my company who has a deal with them for their international employees. I have just received a credit card and will start to build credit history but what a shame that I have to wait 4 more years with a current acount with 0.1% interest only...

So if anyone knows a bank which provides good interest rates and do not require credit history, please advise! I am not interested in overdraft.

Best regards,

Just a thought but between NatWest and your employer can't they sort out the 'technicality' of you not being a UK resident for five years? Maybe they can't but I wonder if this issue is like "The govenment says we have to have proof of ID and address plus what you had for breakfast" brought into our branch... Of course the government isn't specific at all it just says that institutions have to satisfy themselves... It sometimes helps to tell them that you have been advised that they can help you.

Thank you Drumster,
It is not a question of government ruling as the only requirement is to prove your identity and address which is easy with a passport and an electric bill.
Alliance and leicester refused me as a client for the reason that they only accept UK resident for at least 5 years. First direct refused me because my credit score was not good enough (I have no dredit history).
I guess that they would offer me a basic bank account if I wanted it, I have easily opened a ISA at A&L for example. But as I already have a bank account at Natwest I am only interested in bank account which would more fulfill my needs (higher interest rate on current account).
Thank you for helping,

Community:

Alliance & Leicester has launched a new version of its Premier Regular Saver account, which offers a whopping 12% in interest. However, it is only available to new Premier Current Account customers, an account that pays just 1.5% on balances in credit. Kevin Mountford assesses how this deal compares with the rest of the market...

Click here to read this article.

Tell us about your best current account and savings account deals. Have you found a great deal that's worth sharing? Click reply to have your say.

Hi,

Not such an exciting offer. The 12% interest is only on balances up to £3000. For that I really don't think it's getting a new back account (and pay £500 a month into it). A nice offer on the surface but delving deeper it's quite worthless.

When comparing with my actual Natwest account,

By switching to A&L premier current account, I would make 120£ more thanks to the saving account and 30£ thanks to the interest on the current account on the first year

By swithing to A&L premier direct current account I would make 170£ more thanks to the interest on the current account and 20£ more thanks to the saving account.

So it is still between 150-200£ more on the first year and half the sum on the subsequent years if choose the direct current account option. It is not the end of the world but I do not like "losing" taht amount every year... ;-)