Current Accounts

Research often shows that people move house more than they move banks. Moving current accounts around can be profitable.

Some banks offer good incentives Abbey are offering 8% on current account transfers.

Abbey’s offer only applies to the first £2,500 in the account, the rest only earn 2.5%. This rate will apply to the whole amount after twelve months.

The Alliance and Leicester Premier Direct current account is good. It is 6.5% on the first £2,500 fixed till July 08 and only £500 per month need be paid in to the account. It also offers nought per cent overdraft rate for one year and variable after that at 5.9%

It is a pity that these offers are only for new customers as it would be nice if loyalty incentives were also given.

‘Recommend a Friend’ is also being offered by some building societies with £50 cash once the accounts has been accepted. Some are now offering £50 for both parties.

Some of the deals on the market are worth looking into and could in many cases prove to be very tempting.