Not sure whether this as anything to do with the above offer, but in todays finance papers it seems to mention a new Lloyds TSB current account paying 6% interest on credit balances up to £2.500. This reverts to 4% after the first 12 months. Account holders must deposit a minimum of £1.000 a month.
Halifax have also introduced a new regular savers account offering as much as 12%, but more likely 10% with small print conditions attached. One being that you cannot invest more than £500.00 per month, and no withdrawals allowed for the first 12 months.
Do people keep that much in their current accounts? I keep a certain amount in my Lloyd's current account, which is an ideal amount for me because I can sometimes go berserk and withdraw a few hundred at once. But provided I keep a certain minimum amount in it, I am entitled to certain odds and ends such as free AA membership and free annual travel insurance. But there is no way I would keep adding £1000.00 every month as there are better accounts to do that with. I was a bit confused when I read Martin's letter this month about it. But then I am easily confused anyway.