Current interest rates
Business Bank Account (Limited Edition)
Rates are variable and effective from 8 June 2009
| Tier | AER | Monthly gross rate | Monthly net rate |
| £1 - £2,500 | 6.00% (fixed) | 5.84% | 4.67% |
| £2,501 + | 0.10% | 0.10% | 0.08% |
| Rate after initial 12 months | |||
| £1 - £2,500 | 1.00% | 1.00% | 0.80% |
| £2,501 + | 0.10% | 0.10% | 0.08% |
Switcher Business Bank Account
Rates are variable and effective from 8 June 2009
| Tier | AER | Monthly gross rate | Monthly net rate |
| £1 - £2,500 | 6.00% (fixed) | 5.84% | 4.67% |
| £2,500 + | 0.10% | 0.10% | 0.08% |
| Rate after initial 12 months | |||
| £1 - £2,500 | 1.00% | 1.00% | 0.80% |
| £2,501 + | 0.10% | 0.10% | 0.08% |
Business Bank Account
Rates are variable and effective from 1 February 2009
| Tier | AER | Monthly gross rate | Monthly net rate |
| £1 + | 0.01% | 0.01% | 0.01% |
Previous interest rates
Business Bank Account
| Tier | AER | Monthly gross rate | Monthly net rate |
| £1 + | 0.10% | 0.10% | 0.08% |
Switcher Business Bank Account
Interest rates effective for accounts opened between 1 March 2009 and 7 June 2009
| Tier | AER | Monthly gross rate | Monthly net rate |
| £1 - £2,500 | 5.00% | 5.00% | 4.00% |
AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year. The gross rate is the interest rate we pay before income tax is taken off. Rates may change and we pay interest each month.
Charges
This account offers free day-to-day business banking forever, for businesses operating within specified transaction limits.
| Transaction | Number of free transactions per month | Charge for exceeding free limit |
| Cheques deposited | 100 | 50p per item |
| Cash deposited1 | £3,000 | 50p per £100 |
| BACS credited | No limit | Free forever |
| Cash and cheque withdrawals | 100 | 50p per item |
| Debit card payments | No limit | Free forever |
| Direct debits, standing orders and bill payments | No limit | Free forever |
| Transfers between linked Abbey business accounts | No limit | Free forever |
1 Cash deposits made at cash machines located at Abbey branches. Only bank notes can be deposited.
Non-standard charges
Charges apply for transactions that exceed the specified free limits and for non-standard services – these are listed below.
| Description | Charge |
| Advance Overdraft interest rate | 5.9% above base. Typical 6.40% EAR (variable) |
| Advance Overdraft annual commitment fee | 1% of facility, minimum £50 p.a. |
| Instant Overdraft interest rate2 | Typical 29.9% EAR (variable) |
| Instant Overdraft monthly fee2 | £15.00 |
| Charge for each debit transaction paid whilst in your Instant Overdraft3 | £30.00 |
| Please note: an Instant Overdraft fee and interest may be incurred solely as a result of charges being debited in the previous month. | |
| Unpaid cheque/direct debit/standing order/bill payment3 |
£32.00 |
| Special presentations - per cheque3 | £12.00 |
| Photocopy of cheque3 | £4.00 |
| CHAPS payment (UK)3 | £20.00 |
| CHAPS payment (International) 3 | £25.00 |
| Telegraphic Transfer3 | £20.00 |
| International Telegraphic Transfers (sterling) 3 | £20.00 |
| International Telegraphic Transfers (foreign currency)3 | £25.00 |
| Bankers Draft 3 | £10.00 |
| Foreign drafts 3 | £10.00 |
| Audit replies 3 | £25.00 plus VAT |
| Status replies 3 | £10.00 |
| Stopped cheques 3 | £10.00 |
| Use of Visa card within Europe & rest of the world 3 | 2.75% of the value |
| Deed of guarentee or indemnity | 1.5% p.a. (min £100) |
Cash machine usage
| Abbeylink or link network cash machine charge | No charge |
| PLUS cash withdrawal handling charge4 | 1.5% of the value (min £1.50) |
| Cash withdrawal handling charge from Cirrus badged machines5 | £1 plus 1.5% of the value |
| Visa cash withdrawal handling charge6 | 1.5% of the value (min £1.50) |
4 By Electron card holders from cash machines displaying the PLUS symbol, but which are not part of the Abbeylink or Link cash machine networks.
5 By 24 hour card holders from cash machines displaying Cirrus symbol but which are not part of the Abbeylink or Link networks.
6 By Debit Card holders from banks, organisations or cash machines displaying the VISA symbols but which are not part of the Abbeylink or Link cash machine networks.
Abbey National plc. Registered Office: Abbey National House, 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England. Telephone 0870 607 6000. Calls may be recorded or monitored. Authorised and regulated by the Financial Services Authority. FSA registration number 106054. Abbey and the flame logo are registered trademarks.
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