Abbey current account

Old_Git

Do abbey pay interest on the whole amount in the account or just the money paid in that month .

withnell

Whole balance. Do you know of any current / savings accounts that don't pay interest on the daily cleared balance? - I don't!

catieeb06

Whole balance.

But the minute it creeps over £2,500 it drops down to 1%.

Thats supposing your asking about the 6% interest account

simon_templar_2

The above could confuse or mislead some people. Balances upto £2500 is 6% and then anything above that is 1%. For example £3000 is split into £2500 at 6% and £500 at 1%.

td_007

simon_templar wrote: »

The above could confuse or mislead some people. Balances upto £2500 is 6% and then anything above that is 1%. For example £3000 is split into £2500 at 6% and £500 at 1%.

Above £2500 it is 0.1%

oxenryd

td_007 wrote: »

Above £2500 it is 0.1%

Yup got a letter about this last week i think

As per website http://www.abbey.com/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1210609023821&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateG
6.00% AER/5.84% gross (fixed) on balances up to £2,500

0.10% AER/0.10% gross (variable) on balances over £2,500

Old_Git

do they pay a lower interest rate if you pay in say £800 per month

td_007

Old_Git wrote: »

do they pay a lower interest rate if you pay in say £800 per month

From their website
"If you do not pay in at least £1000 a month the in-credit interest rate will be 0.1% gross/AER (variable) and the overdraft rate will be 19.9% EAR (variable)."