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20/20
MONEY MATTERS
I want to invest a
small amount regularly
by JANE MATTHEWS,
HEAD OF MARKETING &
BUSINESS DEVELOPMENT,
WHAT ARE MY CHOICES?
Abbey International
A new regular savers account from Jersey based be chosen, subject to a maximum of 20% of the
Abbey International, part of the Santander Group, is mandated income. The interest rate is then set when
offering offshore investors guaranteed interest rates the Monthly Offshore Savings account is opened and
of up to 12% gross/AER on sterling deposits. guaranteed at that point for the following 12 months.
Regular savings is a habit we know we should all The Monthly Offshore Saver account is seen as a
have, but actually tracking down an easy to must-have for those who want to lock into a
understand, competitive account in today’s uncertain competitive fixed rate of interest on their savings. With
market is more difficult than it may seem. That’s one its monthly sweep function from Abbey International’s
reason why offshore savings and banking specialists Gold current account, saving becomes automatic and
Abbey International have launched a new multi- easy, so together, these two accounts represent a very
currency monthly regular savers account which is attractive package for both working and retired
currently paying up to 12% gross /AER sterling, 10% offshore savers.
gross/AER for euro and 6% gross/AER for US dollars.
As the Monthly Offshore Saver account is a fixed
The innovative new interest rate structure across interest rate account, no access to the savings account
sterling, euros and US dollars gives offshore savers the is permitted during the 12 month term, but savers can
opportunity to benefit from high interest rates in the still use their sterling, euro or US dollar denominated
current uncertain financial climate. Gold account and Visa deferred-debit card for day to
day transactions. Abbey International’s Gold account
Abbey International’s client deposits are wholly and pays interest on credit balances over £5000 or
unconditionally guaranteed by Abbey National plc currency equivalent, so it is useful to know that Visa
(Abbey) in the UK, which is owned by the Santander card transactions, except cash withdrawals, are only
Group. With more than 150 years banking experience debited to the account at the end of the month. This
and more branches worldwide than any other way, clients can continue to earn interest on money
international bank, Santander registered 6.9 million spent for up to 30 days afterwards.
Euros attributable profit for the first 9 months of 2008
alone. Also this year, Santander won the Euromoney Abbey International’s free Gold Visa deferred-debit
'Best Global Bank' award, whilst in the UK Abbey won card is one of the most convenient ways to pay for
the Euromoney 'Best UK Bank' award. goods and services and it is accepted at more than 24
million merchant outlets worldwide. Cash withdrawals
How do I set up an account? can be made up to the equivalent of £500, US$500
The new Monthly Offshore Saver account is linked to or 500 euros a day in local currency from over one
Abbey International’s Gold account, a versatile multi- million ATMs in 160 countries, with withdrawals in
currency offshore product with Visa deferred-debit the currency of the account being free of charge,
card and ebanking facilities. To qualify for the new although the ATM provider may levy a charge.
Monthly Offshore Saver, clients just need to have their
salary or another regular monthly income, such as a The Monthly Offshore Saver account has one of the
pension, paid into their Gold account and then simply lowest opening balances on the market at just £250.
agree how much they would like to transfer from their This opens up regular savings to a whole new range of
income each month. Any amount between £250 and clients who can now bank with confidence and save
£2,500 or euro or US dollar equivalent per month can with ease.
20/20 forty two
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