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Santander cuts cost of reward accounts.

Global Banking News-13 November 2009-Santander cuts cost of reward accounts(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 13 November 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Spain-based Banco Santander (SAN.MC) has reduced its reward account costs in Abbey and Alliance and Leicester, its units in the UK.

The bank said that reward account costs in Abbey and Alliance & Leicester (A&L) have been reduced to half until December 13th. The packaged accounts, which offer a variety of benefits and a six per cent AER, have had their prices slashed to GBP5 a month for three months.

The bank had previously introduced a new fixed-rate bond through its three banks, Abbey, A&L and Bradford & Bingley, with four per cent gross/AER.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Nov 13, 2009
Words:151
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