Martin Lewis

Refer a Friend
Bag free cash from current accounts

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There's £100s in free cash available in the current account world, as providers try to burn each other with the white-heat of competition. One of the main players is Alliance & Leicester and thankfully it's also the most competitive current accounts on the market.

The top product, plus free cash
Grab the free cash
Any catches?
Related Articles / Discuss

Contacts


Get the top product, and free cash!


Loopholes and playing the system are all very well, but if you end up with pants products because of it, it's pointless. Here, the product is a market leader, so its actually a postive incentive to switch to something good!


Alliance and Leicester's current account* pays 8.5% on any in-credit balance up to £2,500 (as long as you pay in £500 per month) and if you're overdrawn, it's even more competitive, offering a 0% overdraft for the first year.


In this article I'm simply focusing on how to grab the cash; if you're looking for a full comparison and assessment of the account please read the Best Current Accounts
article.


Grab the free cash



Alliance & Leicester is running a 'recommend a friend' promotion to try to encourage more people to sign up to its current account. This really is as simple as it sounds.

Any account holders get £25 if someone they recommend joins up, whether it's
a friend, partner, spouse, colleague or family member. Better still the person who joins up also gets £25. All you need do is inform the bank that you instigated your pal to sign up, and each receive a tidy cash reward.

What if you don't already have one of these accounts?

Potentially, this is even better. Any non-A&L customers should team up; one of you can join up, then recommend your friend.
There's no limit to how much you can earn. Both accounts allow you to recommend as many friends as you have. This means that there's possibly £100s available here.

To see this offer, go to Alliance and Leicester* and then look to the middle right of the page for ‘Recommend a friend'


Any catches?



To qualify for the bonuses, you and your friend will have to meet the pay-in criteria that this account has, at least for a couple of months. Technically the requirement is that you need deposit £500 of funding in each month. Don't worry though that doesn't mean you need be in credit or keep the cash there. This is a standard way that all current accounts effectively operate a minimum salary criteria.

In effect anyone who earns over £6,300 a year, and has their salary paid into this account will qualify.
However, as I said this is a very competitive account, so that isn't too much of a hardship.




Always double check the product details before signing up to them

Spotted a broken link/out of date info? Let us know at brokenlink@moneysavingexpert.com


LINKS THAT HELP THIS SITE


Alliance & Leicester



LINKS THAT DON'T HELP THIS SITE


A&L


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Two types of contacts are listed. The first (which all have a * within the main body of the articles) help MoneySavingExpert.com stay ad-free and free to use, as they're ‘affiliated links' which invisibly take you usually via commercial price comparison services like Moneysupermarket, Uswitch or Find, which then pay this site. The second type doesn't help (and don't have a *).

You shouldn't notice any difference, the links don't impact the product at all and the editorial line (the things I write) is NEVER impacted by the revenue. If it isn't possible to get an affiliate link for the best product, it is still recommended and still included in exactly the same way. For more details read how this site is financed.

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