smile Introduces Relationship Pricing for ISA Customers

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smile INTRODUCES RELATIONSHIP PRICING FOR ISA CUSTOMERS smile, the Internet bank, has introduced relationship pricing for its ISA customers, whereby current account holders will receive 0.25 per cent more than non current account customers. smile has operated relationship pricing on its no-notice savings account and credit card since the Internet arm of The Co-operative Bank was launched in October 1999 but this is the first time that it has been applied to the Bank's cash mini ISA customers. With effect from today (21 May, 2002) smile ISA customers with a current account will continue to receive 4.25 per cent gross AER, while ISA holders without a smile current account will receive 4.00 per cent gross, the same as Base Rate. smile Chief Executive Bob Head said: "We believe the current account is the key to Internet banking and that's why we want as many people as possible to have one from smile . Our current account, which has won numerous awards, enables customers to conduct all their day to day banking on-line, anytime day or night. "It also comes with a guaranteed £500 overdraft at just 9.9 per cent EAR, we pay a decent amount of interest when customers are in credit - 3.04 per cent gross AER and we've even got a dedicated team to transfer direct debits and standing orders from our customer's existing account "The fact of the matter is, the more people that hold a current account and multiple products with smile, the better the overall deal we'll be able to offer our customers." Ends For further information contact: Dave Smith/Paul Lawler The Co-operative Bank Press Office Tel: 0161 829 5397/5091 Fax: 0161 839 4220 e-mail: press.office@co-operativebank.co.uk ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/05/21/20020521BIT00900/wkr0001.doc http://www.waymaker.net/bitonline/2002/05/21/20020521BIT00900/wkr0002.pdf

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