Financial services group Abbey National has created 500 new jobs with the launch of a current account war with its big High Street rivals.
The former building society said it was pouring £25 million into its retail banking arm in a bid to increase its current account customers.
It was increasing the interest paid on current accounts from 0.1 per cent to three per cent in a bid to tempt consumers from the Big Four banks.
The group said this was the highest rate currently on offer and would encourage people to move their accounts from rivals.
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