Alliance & Leicester increases its recommend a friend incentive

Michelle Slade, Analyst at Moneyfacts.co.uk, comments: “Perhaps as a response to the growing competition in the current account market, more recently from the likes of Halifax and Abbey, Alliance & Leicester has increased its ‘recommend a friend’ incentive to £50.

“For some time now Alliance and Leicester has operated a recommend a friend scheme, but over the past few months this incentive has been fluctuating, recently falling to £30. The deal applies to Premier Direct or Premier account holders who ‘recommend a friend’ for the same account; once the account has been completed, the new account holder and their ‘friend’ will each receive £50.

“The Premier Direct account was awarded Moneyfacts.co.uk best current account for credit and debit interest rates in 2007 and has consistently offered a great deal during the last couple of years. Offering best buy credit and debit interest rates, combined with this increased incentive could prove an extremely tempting offer.”