moneysupermarket.com comment on the launch of AandL's Premier 21 Account

Commenting on the launch of AandL's Premier 21 Account, Kevin Mountford, head of current accounts at moneysupermarket.com, said:

Commenting on the launch of AandL's Premier 21 Account, Kevin Mountford, head of current accounts at moneysupermarket.com, said: "The launch of AandL's Premier 21 Account is a clever way of securing customer relationships from a product designed to fit in with a change in life circumstances.

"This has been a relatively untapped market.

Other providers predominantly focus on gaining custom from students and graduates, but they could be missing a trick because non-graduates can potentially earn as much as their 'academic' counterparts.

"The Premier 21 Account boasts a market leading interest rate of ten per cent on balances of up to £1,000.

It also has some handy features, such as a 0 per cent overdraft facility.

As long as people are aware of the conditions of use, it is a rare benefit for this age group.

"The current-account market is a battleground and AandL, like others, wants to capture customers early, knowing that loyalty and inertia means people will often stay with them for years.

"Tailored accounts are the way of the future and it is refreshing to see such a bold and well thought out proposition.

It will be interesting to see if AandL has the service capabilities to sustain this offer.

"The Premier 21 Account certainly fills a gap in the market and is a good deal for young people in employment.

As long as customers are aware of the terms and conditions, the overall package is definitely worth a look.".

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