The Alliance and Leicester is to re-launch its best buy winning current account range.
Its Premier Plus account will be renamed to Premier Direct, and will offer a zero per cent interest rate on its overdrafts for at least 12 months.
It will offer a 5.9 per cent savings interest rate onwards, and offers a linked savings account with 4.05 per cent AER.
The company is also lowering the minimum income for the account to £500, bringing it to the same level as their branch-based account Premier.
Simon Ripton, current accounts manager at Alliance and Leciester, said that the changes were "about choice for the customer" and claimed that Premier Direct was the best current account available.
"For those preferring great all round value including branch access and free travel insurance, Premier is the account of first choice - and is the only fee-free current account on the market offering free travel insurance," he added.
The Alliance and Leicester tops the Moneyfacts current account best buy list, with its former Premier Plus account taking first place.
Banking accounts restructured
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