the richest man in atherstone

I've had my A+L Premier Direct current account open for around 3 months now and can confirm that they have duly credited my account with:

1. £50 in December - referral incentive (my mum referred me)
2. £100 in January - Original offer recieved through the post (open an account and we'll give you £100)

They've also credited my mum's account with a £50 referral incentive.

I must admit that I was a little unsure if they'd pay out both offers. I thought that the first offer (£100 for opening an account) was the same as a referral but I just kept the full amount rather than splitting it between referrer and referee. Nevertheless, they've stuck to their word and paid both, even though they were used in conjunction with one another.

The requirements for this account stipulate that £500 must be credited to it each and every month. The strange thing is, they also gave me a £950 0% overdraft (for 12 months), which I've been using to keep the account topped up. The first thing I did was log on via online banking and transfer the £950 to my 'normal' current account. I should note here that I elected not to have my salary or Direct Debits moved over to the Premier Direct account and instead kept my normal day-to-day banking with Lloyds TSB. I am now earning interest on the £950 of interest-free money that the A+L have given me. Every month I've been transferring £500 of the overdraft money back to my Premier Direct and then bouncing it back to my Lloyds TSB current account.

So as well as making £150 by opening an account, it isn't costing my anything to fund the Premier Direct account with £500 per month plus I'm getting extra interest on between £450-£950!

I shall probably hang on to the account until around October time when the free 0% overdraft is due to end and then close it.