Five of the best current accounts

There are a range of good current account deals on the market at the moment. And providing you choose wisely, opening a new current account could earn you some extra cash, says Ruth Jackson.

Alliance & Leicester relaunched its £100 reward deal this week, whereby new customers switching to its Premier Current Account get a £100 reward. But is this the best place for your money?

If you are regularly overdrawn, then yes, it's a good deal. You get the £100 regardless of whether you are in credit or not, as long as £500 a month is paid into the account. The overdraft service is also currently top of the best-buy tables. For the first year your overdraft is interest free, and after that you'll be charged 50p a day capped at a maximum £5 a month.

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Ruth Jackson-Kirby

Ruth Jackson-Kirby is a freelance personal finance journalist with 17 years’ experience, writing about everything from savings accounts and credit cards to pensions, property and pet insurance.

Ruth started her career at MoneyWeek after graduating with an MA from the University of St Andrews, and she continues to contribute regular articles to our personal finance section. After leaving MoneyWeek she went on to become deputy editor of Moneywise before becoming a freelance journalist.

Ruth writes regularly for national publications including The Sunday Times, The Times, The Mail on Sunday and Good Housekeeping, among many other titles both online and offline.