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Packaged bank account deals to finish

07 December 2009 15:43:13

Various packaged bank account deals are available to customers.  image
Various packaged bank account deals are available to customers.
Santander has reaffirmed plans to close its bank account offers by the end of the week.

From next Monday (December 14th), the Alliance & Leicester Premier Current Account will no longer offer new online customers a £100 cashback bonus.

The offers on the Abbey Reward Bank Account and the Premier 50 accounts from Alliance & Leicester are also to end.

Currently, monthly fees of £5 are charged to new customers of both accounts for the first three months, rather than the usual £10.

All products included in the deals are packaged bank accounts, which offer customers rewards including travel insurance, leisure benefits and extra ID protection in exchange for a monthly fee.

However, services vary between each account, meaning that customers should thoroughly research terms and conditions before applying.

Several similar rival products, including the Barclays Additions Active, are currently available and customers also retain the option of switching to a non-packaged bank account which does not charge monthly fees.

Helen Palmer, head of current accounts at Abbey and Alliance & Leicester, said: "By acting now when these offers are available, you could make yourself a tidy saving, and be confident in the knowledge that your bank is giving you a good return on your hard-earned cash."

Santander, a Spanish financial services group, took over Abbey in 2004 and Alliance & Leicester in 2008.

Both banks are to be rebranded as a single firm during 2010.ADNFCR-2196-ID-19498679-ADNFCR ADNFCR-2196-ID-19464191-ADNFCR

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