Flexaccount interest rates. Going down!!

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01 Aug 2008 12:00 AM by Marksfish Star rating in Vera, Almeria. 2627 posts Send private message

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I heard on the news today that as of today the interest payable on Flexaccounts is changing. Instead of 3.5% credit interest across the board, this is now reserved for those paying in more than £1500pm. For those holding money in the account for sending to Spain, etc, the rate plummets to 0.1% . I can't find anything on the BBC where I heard it this morning, but up to date interest rates can be found here. Lets hope they don't review anything to do with commission and overseas transactions!!

Mark



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01 Aug 2008 3:21 PM by morerosado Star rating. 6927 posts Send private message

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We keep OUR money in the Halifax high interest current account & just prior to flying to Spain we take cash out of that & deposit it in our flax a/c. On return we do the opposite.

FlexAccount

Credit interest rates From 1 August 2008
Amount paid in Gross p.a. / AER Net p.a.
£1,500+ per month 3.50% 2.80%
£1,000+ per month 2.00% 1.60%
£500+ per month 0.50% 0.40%
Less than £500 paid in each month / no deposit is made 0.10% 0.08%


Previous credit interest rates
Amount paid in* Gross p.a. / AER Net p.a.
£1,000+ per month 3.50% 2.80%
£500+ per month 0.50% 0.40%
Less than £500 paid in each month / no deposit is made 0.10% 0.08%



This message was last edited by morerosado on 8/1/2008.

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