Abbey 8% now advertised on their site

mary

The new 8% current account is now on Abbey site.
http://www.abbey.com/csgs/Satellite?c=GSProducto&cid=1127562791538&pagename=Abbey%2FGSProducto%2FGS_InfProducto
From their own website
Transfer to an Abbey current account


Consider it if...

• You want to transfer your salary and regular payments to the Abbey current account in a hassle-free way and don’t want to have to do any of the organisation and chasing yourself
• You want a dedicated expert who will do all the work for you managing everything behind the scenes and keeping you up to date on progress
• You want all this for free!
• You want to get up to 8% AER on the balance of your current account for 12 months

Don't consider it if...

• You want to make all the arrangements yourself - personally contacting your employer, your bank and all companies with whom you have regular payments set up.

Get a fantastic 8% AER on balances up to £2500
When you open an account and transfer to us using the Account transfer service we will pay you 8% AER on balances up to £2,500 for the first 12 months whether you choose our Preferred in-credit Rate or Preferred Overdraft Rate option.

So I presume you only get it if you "transfer" rather than just opening up
a straightforward account.

Meatballs

The abbey current account link as opposed to the transfer to abbey current account link shows 8% AER too.

Meatballs

Although further down it seems to be that you have to transfer to hit that rate...

Bisoy

Well spotted Mary. I was already contemplating to apply for halifax but this is good news indeed. My question is have they stated what will be their interest AER after 12 mos.?

cheers

PBA

Standard interest rate is 2.5%, so it will be this after 12 mos unless it changes in the mean time...

Bisoy

Yes I've read that this morning standard rate 2.5% also it's a bit late last night. I'm unsure if I would be attracted such offer giving such high interest for 12 mos. only. I'll reckon we're in a good position and I'm sure 1 or 2 other banks will have a go at Abbey especially that there is a forecast interest rate rise in July.

emma396

so shall i bother opening one of these accounts and transfering my salary in or wait for someone else to offer such a deal.