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

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