Which Bank Account is right for me?
When it comes to everyday banking, one size never fits all. So to help you track down the perfect account, we’ve laid out all the options below. Just click on the statement that matches what you want or visit our Bank Accounts at a glance page for more information.
> I want an all-round great-value account
The Abbey Bank Account offers excellent rates of interest together with a range of handy flexible features – including preferred in-credit and overdraft options.
> I want an account that rewards me for being in credit
Open a new Abbey Bank Account and with the preferred in-credit rate you’ll receive 6.00% AER/ 5.84% gross (fixed) (see note 1 below) on balances up to £2,500 for the first year. After 1 year, 1% AER/ gross (variable) applies. The rate changes to 0.10% AER/gross (variable) on balances over £2,500 and when the required monthly credits are not made.
> I’m looking for an account with an interest-free overdraft facility
Switch to Abbey and with the preferred overdraft rate you’ll receive an interest free overdraft for 12 months when you pay £1,000 or more each month into your account. After this, it changes to our standard preferred overdraft rate (currently Typical 12.9% EAR (variable), see Note 2).
> I’m looking for an account with additional features and benefits
Our Reward Bank offers a range of benefits including preferred in-credit and overdraft rates in addition to great insurance, retail and leisure benefits for a monthly fee of £10
> I’m aged 11-15 and want to open a Bank Account
The 11-15 current account is a great way of getting into the swing of saving and managing your money. It comes with a Visa Electron or cash card and 3.00% AER (variable) interest.
> I’m aged 16 to 18 and want a new account
The 16-18 account offers all the features of the 11-15 account plus a Visa Electron card and chequebook.
> I’m just heading off to university
Our student and graduate accounts are a great companion for your time at university. These accounts offer all the benefits of our bank account, together with an interest-free overdraft of up to £2,000.
This account is designed to help you get into working life. It includes all the benefits of our bank account, plus a three-year interest-free overdraft of up to £2,000.
> I’m looking for a basic, no-frills account
This is our most straightforward account – giving you financial control, without any complications. There’s no chequebook, overdraft or interest, just a safe place to keep your money.
If you’re not sure which one’s best for you, drop into your local branch or call us on 0800 587 2758. Or, visit our bank accounts at a glance page for a full run down of all the features.
Note 1 AER stands for Annual Equivalent Rate and shows what the interest would be if we paid interest and added it each year. Rates may change and we pay interest each month.
Note 2 EAR stands for Effective Annual Rate and represents the yearly cost of an overdraft, which takes into account how often interest is charged to the account and does not include any other fees or charges.
Rates correct as at 1 May 2009
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