This new launch fills an important gap in our portfolio and is a direct response to client feedback in the current evolving market. We are now seeing demand for more flexible shorter term accounts and Premium Notice Accounts are a direct response to that need.
London, UK (PRWeb UK) September 5, 2009
Abbey International (http://www.abbeyinternational.com) has launched a new range of Premium Notice accounts designed for clients who can specify notice requirements for cash withdrawals and as a result, can benefit from higher interest returns. The accounts offer higher savings rates for longer notice periods and provide a good solution to those clients who only wish to tie funds up over short periods.
Two choices of notice period are available, 60 and 120 days, with interest rates of 2.00% AER and 2.25% AER respectively. There is also a monthly interest option available.
Penalty free withdrawals are available for each Notice account, providing the required notice period is given, but importantly, those opting for the longer notice terms of 120 days have an additional option to withdraw up to 20% of their balance penalty free each year. This can be as a single transaction or as two 10% requests for funds. Emergency instant access to the account is allowed, but an interest penalty reflecting the notice period will be payable.
Commenting on the launch of the new accounts, Head of Client Experience at Abbey
International, Jane Matthews, said "This new launch fills an important gap in our portfolio and is a direct response to client feedback in the current evolving market. We are now seeing demand for more flexible shorter term accounts and Premium Notice Accounts are a direct response to that need."
The new notice accounts are available to Premium Banking clients only who have a minimum of £25,000 to deposit.
For further information on banking with Abbey International on Jersey call + 44 (0)1534 828 828 or log onto http://www.abbeyinternational.com
For media use only and not to be relied on by consumers to make financial decisions.
Notes to Editors:
Abbey International is located in Jersey, a secure, well-established and politically stable financial centre, which is renowned internationally for its high standards of regulation. Jersey's unique constitution and relationship with the British Crown dates back hundreds of years. This provides for a unique legal and neutral tax system that can provide significant wealth planning opportunities for the international investor.
Abbey international has a minimum balance entry requirement of £50,000 (or currency equivalent) across our portfolio of products. The minimum balance amount can be spread across a range of accounts, subject to the minimum opening deposit for each account being met.
All deposits carry the full and unconditional guarantee of Abbey National plc, itself a wholly owned subsidiary of the Santander Group.
Santander has more than 150 years' experience in banking and more branches worldwide than any other international bank.
Abbey and Santander
Banco Santander, S.A., (SAN.MC, STD.N), headquartered in Madrid, engages primarily in commercial banking with complementary activities in global wholesale banking, cards, asset management and insurance. Santander had over EUR 1.079 trillion in funds under management at Sept. 30, 2008, from more than 80 million customers* served through more than 13,000 branches - more branches than any other international bank. Founded in 1857, Santander is the largest financial group in Spain and Latin America and has a significant presence in Western Europe and in the United Kingdom, through its Abbey subsidiary. In the first nine months of 2008, Santander registered €6,935 million in attributable net profit, an increase of 16% from 2007, excluding capital gains.
In Latin America, (excluding Banco Real) Santander manages over US$200 billion in business volumes (loans, deposits, mutual funds, pension funds and managed funds) through 4,638 branches. In the first nine months of 2008, (excluding Banco Real) Santander reported EUR 2,167 million in net attributable income in Latin America.
- Includes, Alliance & Leicester, Bradford & Bingley savings and Banco Real.
For more information, see http://www.santander.com.
Guy Stephenson/Jennifer Duffy
020 8333 9125
Jane Matthews, Abbey International, Head of Marketing & Business Development
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