Getting There

Isn't it nice when things start to fall into place? Over the last couple of weeks, my experience with Smile has left me gunning for them. I got an apology from Alliance and Leicester also, for the awful service I received when applying to them to take my Smile loan off me.

So what's happened so far? Well, the two saving accounts with Smile have been transferred. The money I save up throughout the year to pay for the car has moved to a Nationwide e-Savings account, and the holiday fund is now housed with ING Direct. I've just received a letter from Kent Reliance Building Society thanking me for my ISA application, so that will be moving to them shortly. ZOPA have accepted my loan, and although at a slightly higher rate, I'm pleased. The credit card that I had with Smile has been closed, and although I don't think it was a bad deal, I'd rather just get shot of them. That means that only a dormant current account remains.

Now let's turn to the subject of an e-mail I received from them in March:

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"As a smile customer we have to tell you about any changes we make on your account. As part of the terms and conditions of the smile current account, customers agree to pay in at least £1000 per month or a regular payment. At the moment some customers aren't doing this, so we've had to make a few changes to your terms and conditions, which specifically relate to the overdraft facility.

So from the 26th April 2006, overdrafts on smile current accounts will be reviewed each year, on the anniversary of your account being opened. We'll let you know, in plenty of time, if the overdraft will continue or be withdrawn, or you could be offered an increased or reduced limit.

This means that the £500 fee free overdraft is not automatically part of your smile current account. Until your anniversary, smile agrees your smile overdraft will extend as an agreed overdraft limit in accordance with the revised terms and conditions.

We still reckon our smile current account is one of the best you can get, and remember it's twice been voted 'Best Online Current Account' by Guardian and Money Observer readers. We hope you agree!

Here are the terms and conditions that are changing; 1.1, 3.1, 3.2, 3.3, 3.4.

The smile current account tariff, Charges for smile current account overdrafts, has also been updated.

To view the smile current account terms and conditions and tariff changes in full please visit:

http://www.smile.co.uk/servlet/Satellite?cid=971088193272&pagename=Smile%2FPage%2FsmView&c=Page&loc=l

If you've got any questions about the changes send an e-mail to questions_for_you@smile.co.uk, or call smile for a chat on 0870 843 2265*. Please don't reply to this email, as this mailbox can't accept incoming mail.

Thanks

smile "

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Now looking at the Ts and Cs of the account, I note that it states "You must receive a regular payment (e.g. wage, salary, pension, etc) or at least £1,000 per month into your account". Do we reckon that a £20 standing order will suffice as a "regular payment"? Watch this space.