uSwitch.com: Alliance & Leicester's £100 switching incentive

Louise Bond, Personal Finance expert at uSwitch.com, the independent price comparison and switching service, comments on Alliance & Leicester's introduction of a £100 switching incentive on its Premier and Premier 50 current accounts from next week (5th January 2009): "This is a great incentive for people to shop around for a better deal on their current account, especially in today's economic climate. Anything that makes consumers think about whether their current account really offers good value for money, or whether they could get a better deal elsewhere, is to be welcomed. For some time Alliance & Leicester (A&L) has offered one of the better accounts on the high street with its Premier current account, and this £100 switching incentive, at a time when every penny counts, could prove a hit with many consumers.

"Customers can also benefit from the perks of a packaged account without paying a monthly fee. The Premier Account comes with free annual multi-trip European travel insurance and the Premier 50 account (for the over 50s) provides free annual multi-trip worldwide travel insurance. The A&L Premier Direct current account has also been one of the best "all-rounders" on the high street for several years - consistently in the best buy tables for its competitive credit and debit interest rates.

"Now more than ever, it is important for consumers to make sure that their money is working as hard as it can for them. Switching current accounts is a very easy way to do this. Those who are regularly overdrawn should make sure that they have an account that charges the lowest rate of debit interest and usage fees, while those who are regularly in credit should make sure that they are rewarded for this. We urge consumers to always read the small print to ensure they are getting the right account for their needs."