Abbey now giving me 0.01 percent on biz a/c

MattyMatty

AMAZING... Abbey has just spent the money on a first class stamp (plus stationery and admin) to write to give me the great news that interest rates on my business account are now 0.01%. This means that if I keep £100 in my account for 12 months, they generously give me ONE PENNY. Or £1000 I get 10 pence. £10,000 I get a quid. £100,000 I get a tenner.

And if (which, of course I will be with all this generous interest) I become a millionaire, and don't move my million out of the account for 12 months, I get £100.

Robert_Sterling_3

In for a penny. In for a pound.

Reaper

I think you should keep £340 in there for a year, then you will have earnt enough interest to buy a stamp and reply.

Rustvaar

Ah, but the cost of the envelope and paper. I suppose you could always write in blood on the back of the letter using their envelope!

withnell

Reaper wrote: »

I think you should keep £340 in there for a year, then you will have earnt enough interest to buy a stamp and reply.

£3400 surely?

Still a higher rate than Barclays / nationwide pay on their personal current accounts!

zaksmum

What's stopping you moving your money out, then? I was getting 0.08% from Barclays so moved it yesterday to a Nationwide 1 year bond with emergency closure facility, which is paying 3.35%. Not the best rate, but one of the best you can get at the moment.