Santander: £100 to new customers

Saturday, 31 October 2009 12:01

Santander is offering £100 to customers to who switch to an Abbey or Alliance & Leicester current account before November 8th.

The offer applies to people opening the Abbey Preferred Overdraft Rate (PODR) account or Alliance & Leicester's Premier Current Account.

They must switch all direct debits to the new account, and credit it with £1,000 if they are opening Abbey's account or £500 for Alliance & Leicester's product within 11 weeks, to benefit from the cash injection.

Helen Palmer, head of Santander's UK current account brands, said: "Many customers are not getting the best value they can for their money, as most providers offer little or no value on their overdrafts and in-credit rates.

"Abbey and A&L are bucking the trend by offering two great current accounts and £100 to those who switch to us from another provider."

Abbey's PODR account offers an interest-free overdraft for 12 months, which charges 12.9 per cent thereafter. It pays 0.5 per cent interest to in-credit accounts for balances of up to £2,500.

Alliance & Leicester's Premier Account, meanwhile, offers an interest-free overdraft for 12 months, which then charges 50p per day up to £5 per month thereafter.

It comes with free annual European travel insurance and 0.5 per cent interest for in-credit balances of up to £2,500.

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