Fees & Charges for Business and Charity accounts
Standard Business Transaction Charging Tariff with effect from 1 January 2017
ITEM & CHARGE
For charities with an annual turnover of less than £500,000, we offer you FREE banking if the account is operated in credit with a minimum balance of £5,000, with no more than 25 entries on average per month, and cash handled does not exceed £1000 per week.
For charities with an annual turnover of more than £500,000 we will review usage and likely transaction costs with you to agree an appropriate tariff.
Those customers that maintain a credit balance averaging £5,000 or more during the charging period may qualify for a discount against the overall charges. The amount of discount will depend on the size of the credit balances held and the period for which these balances are maintained, plus the volume of transactions passing through the account.
For Foreign & Exchange services please refer to our web page [here].
There are times when an overdraft facility may be required and we are happy to discuss your needs whether it is for a short term or longer (subject to application). If you do go overdrawn without an agreed overdraft you could incur charges.
For any other type of lending for your business, call us and speak to one of our Relationship Managers who will be happy to discuss your requirements further on 020 7398 5429 or email firstname.lastname@example.org.
Lending fees and rates of interest will be discussed based on the type of lending, term and your business status.
Financial Services Compensation Scheme (FSCS)
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if we as a Bank fail to meet our financial obligations. In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website for the Finanacial Services Compensation Scheme.
With effect from 30 January 2017, in respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each, making a total of £170,000. The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with the Bank, including their share of any joint account, and not to each separate account.
For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please call us on 020 7398 5400, refer to the FSCS website www.FSCS.org.uk or call the FSCS on 0800 678 1100 or 020 7741 4100. Please note only compensation related queries should be directed to the FSCS.