You've just over a week to grab the top-pick current account for many before its key benefit is axed.

Alliance & Leicester (A&L) currently offers a £100 bonus to new customers signing up to its Premier current account, but only until Sunday, 8 November.

The account is the best for anyone who earns over £6,050 a year, as those with a good credit score get an interest-free and fees-free overdraft in year one as well as the cash sweetener (for full info and how to get the £100 see the Best Bank Accounts guide).

Those under 65 also get annual European travel insurance included.

To get the £100, you must switch all direct debits and standing orders using the bank's official transfer service.

Alternative accounts

While the outright winner for those regularly overdrawn, A&L is one of our top three picks for those regularly in credit. The others are:

  • First Direct's 1st account. New customers who pay in £1,500 a month can get paid £100 by signing up.

  • The Halifax/Bank of Scotland Reward account. Pays £5 a month after basic rate tax if you deposit £1,000 a month. While beaten by First Direct and A&L in year one, the £5 payment is ongoing.

    However, if you slip into an authorised overdraft it can be VERY expensive. You're charged £1 per day while in the red, and £2 per day if the debit balance is over £2,500.

Further reading/key links

Top accounts: Best Bank Accounts
Reclaim cash: Bank Charges