Alliance & Leicester's switching bonus may not be best deal, say analysts
www.moneynews.co.uk > Banking > Alliance & Leicester's switching bonus may not be best deal, say analysts
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Money News |
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Alliance & Leicester's switching bonus may not be best deal, say analysts
Mon 5th Jan 2009
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In a statement, the price comparison site warned: "Whilst £100 to switch accounts may seem tempting, consumers need to look at the bigger picture. The offer is only available to their Premier account range, which pays just one per cent in-credit interest."
Moneysupermarket.com suggested that HBOS' current account may be better for customers who are always in credit, as it offers an in-credit interest rate of 2.5 per cent.
However although the website said that the Alliance & Leicester's offer comes with certain conditions attached, they added that the low rate of interest charged on overdrafts by Alliance & Leicester could be very attractive to those who are often overdrawn.
While moneysupermarket.com recommended shopping around for the best deals, research by Alliance & Leicester showed that more than two-thirds of people in the UK had not considered switching their bank account in the last decade.
Click here for more banking news
Related News : Banking |
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Related News : Alliance & Leicester |
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