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The National has launched a new high interest account called the Cash Management Accelerator Account. "The new at-call account provides a great opportunity for customers who are looking for a secure yet convenient deposit and investment account," said the National's General Manager of Personal Financial Services, Peter Flavel. The features of this account include: A higher rate of interest than customers receive on transaction accounts- for example, if a customer has an amount over $35,000 in the Accelerator account, they receive an interest rate of 2.70%; The ability of customers to establish a Balance Transfer facility to 'sweep' funds in to the Accelerator Account. This will enable customers to automate deposits in to the Cash Management Accelerator Account and receive a higher rate of interest on their money than they would if they left it in a transaction account. No transaction or account service fees where account balance is $35,000 or more; and An at-call account enabling customers to transact via the Internet and Telephone Banking. "No longer will customers have to worry about transferring money in to a higher interest account. Instead, the Balance Transfer facility will 'sweep' any balance over a nominated amount in to the Accelerator Account. This facility will give customers a higher return on money that could be earning lower rates of interest in a transaction account. "The Accelerator Account is an at-call account, so customers can also access their funds easily by transferring amounts back in to their transaction accounts should they require it," added Mr Flavel. Interested customers should contact their banker or call 13 13 12 for more information.
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