Flexaccount interest rates. Going down!!
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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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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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