Abbey launches new offshore regular savers account

Regular savers with Abbey International can now earn up to 12% gross /AER sterling, 10% gross/AER for euro and 6% gross/AER for US dollar with a newly launched fixed rate Monthly Offshore Saver account. The interest rate is set when the account is opened and guaranteed at that point for the following 12 months.

This groundbreaking interest rate structure across sterling, euros and US dollars gives international savers an opportunity to benefit from genuinely high interest rates in the current uncertain market.

The new Monthly Offshore Saver account is linked to a Gold account, Abbey International’s versatile multicurrency offshore current account with Visa deferred-debit card and ebanking facilities. To qualify for the new Monthly Offshore Saver, clients need to have their salary or another regular monthly income such as a pension paid into their Gold account and then simply agree how much they would like to transfer from their income each month. Any amount between £250 and £2,500 or euro or US dollar equivalent per month can be chosen, subject to a maximum of 20% of their mandated income.

Jane Matthews, Head of Marketing and Business Development comments, “Our new Monthly Offshore Saver account is a must-have for those who want to lock into a competitive fixed rate of interest on their savings. With its monthly sweep function from our Gold bank account, saving becomes automatic and easy. Together, these two accounts represent a very attractive package for both working and retired expatriates all around the world.”

As the Monthly Offshore Saver account is a fixed interest rate account, no access to the savings account is permitted during the 12 month term, but savers can still use their sterling, US dollar or euro denominated Gold account and Visa deferred-debit card for day to day transactions. Abbey International’s Gold account pays interest on credit balances over £5000 or currency equivalent, so it is useful to know that Visa card transactions, except cash withdrawals, are only debited to the account at the end of the month, so clients can continue to earn interest on money spent for up to 30 days afterwards.

Abbey International’s free Gold Visa deferred-debit card is one of the most convenient ways to pay for goods and services and it is accepted at more than 24 million merchant outlets worldwide. Cash withdrawals can be made up to the equivalent of £500, US$500 or €500 euros a day in local currency from over one million ATMs in 160 countries, with withdrawals in the currency of the account being free of charge, although the ATM provider may levy a charge.

Jane Matthews continues, “Our new Monthly Offshore Saver account has one of the lowest opening balances on the market at just £250. This opens up regular savings to a whole new range of clients who can now bank with confidence and save with ease with our flexible high interest current account and guaranteed fixed rate savings account package.”

Abbey International offers a comprehensive range of banking and savings products to expatriates, many of which can be operated via their acclaimed internet banking service. As well as Gold and the new Monthly Offshore Regular Saver account, Instant Access, Base Rate Tracker and Fixed Rate Contracts are all available.

For further information on offshore banking visit abbeyinternational.com