The Alliance and Leicester Premier 21 account turned one year old today and to mark the occasion a ten percent interest rate offer has been reintroduced for new customers.
The ten percent offer on the Alliance and Leicester current account will be valid for the first GBP1,000 deposited and kept in the account for 12 months. After the first year the rate will revert to a base rate tracker.
The current account is available to customers aged between 16 and 21, with an interest free overdraft facility available to those over 18. An Alliance and Leicester spokesman believes that by concentrating their efforts on smaller markets such as this they can deliver a product better suited to their needs.
Abbey National owner Santander has reported profits for the first six months of the year up by 6 percent compared with the same time last year.
If a one off figure was removed from the figures then the actual profit generated by Santander, best known in the UK as the owner of the Abbey National, would have been a much higher 22 percent. This figure is also higher than analysts had predicted, although shares still traded down slightly on the day.
Santander are very much a global business, with connections to most parts of the world. This enables them to find many more opportunities to create profitable business since they are not tied to just one market. However even the Abbey National delivered good results for them, something that could not always have been expected with the economic situation currently facing UK businesses.
The Alliance and Leicester is giving a GBP100 incentive to customers going online and switching to their Premier Current Account from a competitor.
New customers who have moved from a different bank to the Alliance and Leicester will also receive free European travel insurance, an agreed overdraft for the first 12 months with no set up cost and a PlusSaver account that is linked to the current account, paying interest at 5.25 percent AER.
The idea behind the promotion by the Alliance and Leicester is to show consumers how moving bank accounts can work in their favour. With a seamless move across customers will find the whole process quick, easy and profitable.
