Higher Rates and Notice Choice on Offer With New Abbey International Premium Notice Account

ST HELIER, Jersey, August 3, 2010 /PRNewswire/ -- Abbey International, part of the Global Division of Santander Private Banking, has announced the launch of a new 180 day notice option to its Premium Notice account range. These accounts offer clients rising rates of interest for longer notice periods. Interest rate tiers have also been introduced across the range from the minimum balance up to GBP249,999, with a second tier for balances of GBP250,000 and above paying a higher rate on the whole balance.

Three choices of notice period are available, 60, 120 and 180 days, with interest rates of 1.75% gross/AER, 2.00% gross/AER and 2.25% gross/AER available respectively on balances of GBP250,000 and over. Funds can only be withdrawn upon receipt of the appropriate notice, but there is also a monthly interest option available.

The minimum balance required for the 60 and 120 day notice options is GBP25,000, whilst for the 180 day variant, the figure is GBP50,000. Interest is payable from the opening balance up to GBP249,999, giving a return of 1.50% gross/AER, 1.75% gross/AER and 2.00% gross/AER paid on each of the notice options respectively. Higher rates are payable on the total balance over GBP250,000.

Commenting on the new account range, Head of Client Experience Jane Matthews said, "Our new range of Premium Notice Accounts meets an important need amongst clients in the current markets, offering attractive interest rates and the security of banking with a subsidiary of Santander which has more than 150 years experience in banking and has clients all over the world."

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 GBP50,000 (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 Santander UK 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.

About Banco Santander

Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with presence in 10 main markets. At the end of 2008, Santander was the largest bank in the euro zone by market capitalization and third in the world by profit. Founded in 1857, Santander had EUR 1,271 billion in managed funds at the end of 2008. Following the acquisition of Sovereign Bancorp. of the U.S. in January 2009, Santander had 90 million customers, around 14,000 branches - more than any other international bank - and over 170,000 employees. It is the largest financial group in Spain and Latin America, with leading positions in the United Kingdom and Portugal and a broad presence in Europe through its Santander Consumer Finance arm. In the first half of 2009, Santander registered EUR4,519 million in net attributable profit.

In the UK, Santander operates two retail businesses - Santander, which was formed out of the Abbey and Bradford & Bingley retail network, and Alliance & Leicester. Together they have over 1300 branches, around 4,500 cash machines and they provide a full range of retail and corporate banking services to 25 million customers.

    Alliance & Leicester will become known as Santander by the end of 2010.

    Media Contacts:

    Guy Stephenson/Jennifer Duffy
    Nacelle Ltd
    +44(0)20-8333-9125
    [email protected]

    Jane Matthews, Abbey International, Head of Client Experience
    +44(0)1534-828137
    [email protected]

SOURCE Abbey International

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