Alliance & Leicester attacks the UK current account market
In a sign of increased competition in the UK banking industry it has been revealed that Alliance & Leicester is again offering £100 to customers switching their current accounts from competitors. The online offer is set to run until 28 May and is indicative of greater demand for current account customers in the UK banking sector.
The Alliance & Leicester offer also allows an interest-free overdraft for 12 months and free annual European travel insurance. The offer relates to the company's Premier group of accounts with the Premier 50 account attracting a £10 per month charge. However for this you will receive interest at 5% variable for one year on balances up to £2,500.
For those looking at changing their banking provider the Alliance & Leicester offer has attractions although we should see more and more similar deals being announced over the coming months. It appears as though the UK banking giants are looking to reposition themselves for the eventual recovery in the UK economy. Many observers are also waiting to see how those banks under the effective control of the UK government will respond and whether potential conflicts of interest will arise.
Share this..
Related stories
UK currency under severe pressure as debts begin to mount
After a very brief recovery on the currency exchange over the last few days the pound has encountered some serious selling pressure today falling to a seven-year low against the dollar. There is concern amongst traders and investors that the constant drip feed of taxpayer's money into various rescue packages is severely weakening the power of the UK and investment prospects.
The ban...
Worldwide stock markets lower again on Dubai fears
Worldwide stock markets have again been marked lower on concerns that the Dubai saga could overflow into the general worldwide money markets. While the ruling family in Dubai has moved to allay market fears about the future, there is some concern that we could possibly move back to a similar credit crunch scenario that we saw two years ago - but this time against an already weakened worldwide econ...
Read MoreHips delayed until August 1st
The government has put the introduction of its controversial home information packs (Hips) scheme back by two months until August 1st.Communities secretary Ruth Kelly announced the delay, which follows a complaint lodged at the high court by the Royal Chartered Institute of Surveyors (Rics) in the House of Commons to howls of laughter from opposition MPs.The Conservatives say the government is in...
Read MoreFifth of households complain to energy provider each year
18/06/2015 A fifth of British households have had to complain to their energy provider every year for the last 10 years, according to a report from Citizens Advice. The biggest sources of complaints received have been in regards to billing problems, which Citizens Advice estimates costs suppliers £125million a year to handle. The report showed that energy suppliers progress on handling cus...
Read MoreUK government looking to take control of the online arena
We recently covered a report by the Office of Fair Trading into information farmed from the Internet by various UK retail sites. In some cases this information, which has been collected anonymously, has been used to try and predict customer requirements, customer activity and also to pitch items and services at "acceptable prices". In essence, many Internet users are having their activity recorded...
Read More