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Which Bank Account?

Which Bank Account is right for me?

When it comes to everyday banking, one size never fits all. So to help you track downthe perfect account, we’ve laid out all the options below. Just click on the statementthat matches what you want or visit our Bank Accounts at a glancepage for moreinformation.>

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 receive6.00% AER/ 5.84% gross (fixed) (see note 1 below) on balances up to £2,500 for thefirst 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 creditsare 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 freeoverdraft 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 Typical12.9% 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 andoverdraft rates in addition to great insurance, retail and leisure benefits for a monthlyfee 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 andmanaging 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 Electroncard 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.>

I’ve recently graduated

This account is designed to help you get into working life. It includes all the benefitsof 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 anycomplications. There’s no chequebook, overdraft or interest, just a safe place to keepyour money.If you’re not sure which one’s best for you, drop into your local branchor call us on

0800 587 2758.

Or, visit our bank accounts at a glancepage for a full run down of allthe features. Note 1 AER stands for Annual Equivalent Rate and shows what the interest would beif we paid interest and added it each year. Rates may change and we pay interest eachmonth. Note 2 EAR stands for Effective Annual Rate and represents the yearly cost of anoverdraft, which takes into account how often interest is charged to the account anddoes not include any other fees or charges.

TermDescriptionA

AdvanceOverdraftA facility on our bank account that lets you borrow a littleextra money when you don’t have enough. You must agreethe limit with us beforehand.

Bank accountA bank or current account is the account that you use for your everyday needs, like buying things, paying in your salary and paying bills.Banker’s draftThis is a cheque that’s issued by a bank on the customer’s behalf. People often use a banker’s draft when making large purchases like a car. Please refer to thePrice Listfor the costof this service.

Cash cardA cash card is used in cash machines to withdraw or pay inmoney. It also allows you to use other services such aschecking your balance.Cash machineThese are also known as automated teller machines or ATMs.They let you withdraw and pay in money as well as do other everyday banking, such as getting mini-statements, changingyour PIN and checking your balance. A remote cash machine

is one that’s installed in places like convenience stores or petrol stations.Cheque-clearancecycleWhen you pay a cheque into your account, we have to check there’s enough money in the other person’s account and thenget that money from their bank. This is called the cheque-clearance cycle and it works just the same way when youwrite a cheque.

Debit cardThis is a card that you can use to buy things in shops, over the phone or on the internet. You can use it instead of cheques or cash and the money comes out of your bank accountautomatically, within a few days of you using it.Direct debitThis is a simple, direct way for companies to take money fromyour account if you authorise them . It’s often used to payregular bills such as gas, electricity or mobile phone. Thecompany asks for the money automatically each month andwith some bills, for example a phone bill, the amount takenmay change each month according to how you have used your phone.

Instant OverdraftWe will treat you as having asked for an Instant Overdraft if you make a payment that would:

•

cause your account to go overdrawn without having anAdvance Overdraft in place; or

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cause it to go over the limits of an existing advanceoverdraft.Different service fees and interest rates apply to an InstantOverdraft.InterestWhen you earn interest, we’re paying you a percentage for using your money. For example, when you put your moneyinto a savings or bank account, we’ll pay you interest. And, if you take a loan or go overdrawn, you’ll pay interest for usingthe money you’ve borrowed.Interest-freeadvance overdraftWhen you open an account with us, we may give youan interest-free advance overdraft (depending on the accountyou choose). This means you can borrow an agreed amount,for an agreed time, without paying interest.

LINK cashmachinesLINK is a UK network of cash machines where, if you hold acard that works with the LINK network, you can withdrawcash without charge.

OverdraftManager If you have graduate facilities on your account, OverdraftManager is designed to help you repay money in amanageable way. It helps you sort out your overdraft bymaking regular payments and know that, by a set date, youwill have repaid your money. You can choose between usingthe Overdraft Manager or keeping your interest-free Advance