Abbey new packaged current account launched
23 June 2009 By MoneyhighStreet Staff 1 Comment
Abbey, part of Santander, has launched a new packaged current account, the Reward Bank Account which includes a credit interest rate of 6% AER.
The market leading 6% AER credit interest rate applies to new and existing customers.
The packaged current account has a number of benefits, including
- Annual worldwide family travel insurance, including winter sports
- Identity protection with up to £50,000 legal cover
- Green Flag motoring assistance
- Card loss assistance
- Key protection
The credit interest rate of 6% AER is fixed for 12 months and applies to balances up to £2,500 when at least £1,000 is paid into the current account each month.
After 12 months the interest rate falls to 1% AER, again on balances up to £2,500 and only when at least £1,000 is paid in each month.
The cost of the Abbey Reward Bank Account is £10 per month.
Abbey Current Account manager, Emma Walkley, said ‘We designed the Reward Bank Account around what customers told us they would want from a packaged account. The research we carried out showed that people wanted quality travel insurance for the family, car breakdown assitance, an impressive credit interest rate, and the account to be keenly priced. We have been able to tick all of those boxes by giving new and existing customers real benefits that they will use, and value for money.’
Seems like this packaged current account could be worth considering, along as of course you are able to take advantage of the packaged benefits.
“as long as of course you are able to” = “if you”