Abbey is 'seducing the switchers'

Money News

www.moneynews.co.uk > Banking > Abbey is 'seducing the switchers'

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Abbey is 'seducing the switchers'

Abbey has announced that it is currently putting pressure on the so-called big four group of banks after it emerged that seven out of ten account switchers came from these banks.

The bank declared that 2006 saw a record number of people switching their current account to Abbey and 70 per cent of these had previously held an account with Barclays, HSBC, RBS/NatWest or Lloyds TSB.

This news comes as the Abbey current account upped its rate to a "market-leading" 6.3 per cent yesterday and this new rate is applicable for 12 months for customers switching their banking to Abbey.

Steve Shore, Abbey's head of banking, stated: "Greater competition in the current account market means greater choice for consumers.

"Our research has shown 83 per cent of current account holders who are dissatisfied with their account think about switching, but never do. There is no reason for customers to stick with the meagre rates offered by the big four."

In order to take advantage of the Abbey current account offer, customers must deposit at least £1,000 every month.

Customers choosing the preferred overdraft rate option on the Abbey current account will get an overdraft rate of 10.9 per cent EAR.

Related News : Banking

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Related News : Santander

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet