Alliance and Leicester Give You £100 to Switch
Writes Dan Drage dan.drage@consumerchoices.co.uk
So confident is Alliance and Leicester in its Premier Current Account, it will reward you £100 to switch online.
Alliance and Leicester (www.alliance-leicester.co.uk) will pay new customers £100 if they switch online to the bank’s Premier Current Account.
Following reports of consumer inertia when it comes to switching current accounts, this offer will encourage people to break free from their poor value accounts and switch to a better deal which offers more incentives.
In addition to the £100 reward for online switchers, the account provides free annual multi-trip European travel insurance, a free agreed overdraft for the first 12 months, a linked PlusSaver account paying 5.25% AER and a fuss-free switching service to transfer your salary, Direct Debits and standing orders.
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"Eight in ten people haven't switched current accounts in the last five years, and over half have never switched"
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Andy Muddimer, Current Account Manager at Alliance and Leicester, had the following comment on this offer:
“With this £100 reward for switching to Alliance & Leicester, we are once again raising the bar in the current account market, and giving people who are not getting a good deal from their current account a real reason to switch.”
He continues:
“Eight in ten people haven't switched current accounts in the last five years, and over half have never switched. We would urge all those who haven't switched to have a good look at the account they currently have and see whether they are getting good value.”
Of those who do change current account provider, some of the reasons for switching include a better overdraft deal than their previous bank or added benefits such as travel insurance.
Chris Eagle, Commercial Manager at Credit Choices, foresees current account switching to become a new trend:
“In a bid to liven up the market, banks will begin campaigns to get you to switch current accounts and hopefully make it easier for you to do so”
He continues:
“This could be a positive move for consumers, many of whom seem apprehensive when it comes to current account switching probably due to the associated complications. The time has come to review your current account and ask whether you’re getting the service you deserve.”
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