Alliance & Leicester voted Best Current Account Provider

Alliance & Leicester Current Accounts has scooped double honours in the prestigious annual Moneyfacts Awards, winning both the Best Current Account Provider (Credit Interest) and Best Current Account Provider (Debit Interest) for the fourth consecutive year.

It is the seventh consecutive year Alliance & Leicester has won ‘Best Current Account Provider (Debit Interest)'.

Andy Bayes, Head of Abbey and Alliance & Leicester current accounts, said: "We are delighted to be chosen for these awards once again. We have recently increased the credit interest to 6% on Alliance & Leicester's Premier Direct and Premier 50 current accounts, alongside a similar increase on Abbey's PICR account at a time when other current account providers are making changes which give their customers worse value on credit interest and overdraft rates.

"Some providers have reduced the rate they pay to customers with balances to as low as 0%, and the vast majority of customers, nearly nine out of ten, at the largest banks receive less than 0.5% on their money, whereas Abbey's and A&L's go to rate on PICR, Premier Direct and Premier 50 is 1.00%. "

"In the current economic climate, it is even more important that people choose the best banking deals and let their money work harder for them. Often making simple changes like switching to a current account provider offering a better interest rate can make any belt-tightening that little bit easier."

Commenting on the Awards, Michelle Slade of Moneyfacts said: "Congratulations to Alliance & Leicester for winning both these awards once again. Alliance & Leicester has been a consistent contender in the current account market, and these awards go to prove they offer great rates of both credit and debit interest."