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Current accounts
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Current Plus
This product is no longer available.
With a chequebook and overdraft - subject to eligibility - a Current Plus account makes it easy to manage your money.
Day-to-day
- No subscription fee - simply enjoy free everyday banking
- Overdraft - subject to eligibility, you can apply for an overdraft facility. It could be just the flexibility you need
- Chequebook - subject to eligibility, you can apply for a chequebook. Ideal for paying tradespeople and other businesses that don't take cards
Ways to bank
- Online banking - manage your finances when it suits you
- Telephone banking - our call centres are ready to help, 24 hours a day
Using your money
- Cash machines - get your money wherever you see the logo on your card
- Debit card - the easy way to pay
- Overseas cash - withdraw money or pay wherever you see the logo on your card
We’re committed to helping you get the most out of your account – which includes making you aware of the charges and rates of interest that apply to your account.
All charges and rates shown are correct as at 2 April 2013 and may change. The interest rates shown have been rounded to two decimal places.
Full copies of the fees and terms and conditions that apply to our personal accounts can be downloaded from our website terms and conditions.
Services you can receive without separate charge
As long as you stay in credit, you can receive the following services without any separate charge being made:
- payments by debit card in the UK, cheque, Direct Debit or standing order;
- sterling transactions using your debit card or ATM card in any Isle of Man Bank, NatWest, RBS International, Royal Bank of Scotland cash machines, or almost all other UK cash machines. There are some cash machines in the UK and abroad where the owner of the machine may charge a fee. You will be advised on the screen about any charges before you withdraw cash. You can then stop the transaction if you do not want to be charged;
- account statements (but a charge is made for copies);
- cheque books, paying-in books and statement holders;
- telephone and online banking – apart from the cost of the phone call and any charges your Internet Service Provider may charge you for accessing the service;
- use of our counter services. There may be additional fees if we have to make special arrangements or provide specialist services.
GOLD Banking account fees
The following monthly account fee is payable by GOLD Account customers. Membership includes access to all the benefits listed in the appropriate webpages, brochures and user guides. These also contain details of other fees and services.
| Type of current account | Account fee |
|---|---|
| GOLD Account | £12.00 per month will be payable from your GOLD Account |
Application of account fees
The account fee for each monthly charging period will be debited from your account 21 days after the end of that charging period (or on the next business day if this is a Saturday, Sunday or Bank Holiday). The fee will appear on your statement as ‘CHG’. The charging period normally ends on the date that we issue your statement to you.
Changes to interest rates
From time to time we may alter the interest rates we charge on arranged overdrafts.
When we do this we will notify you personally not less than 30 days before the change comes into effect, unless your arranged overdraft interest rate is linked to an internal reference rate (for example, set at a margin over our base rate).
Interest we pay you
The annual rates of interest paid on credit balances;
| Type of current account | Amount held in account | Gross Rate % | AER% (variable) |
|---|---|---|---|
| GOLD Account | |||
| £5,000 + | 0.25 | 0.25 | |
| £0 - £4,999 | 0.15 | 0.15 | |
| Select Account | |||
| £0 + | 0.00 | 0.00 | |
| Card Plus | |||
| £0 + | 1.25 | 1.26 | |
Updated: 2 April 2013
Calculation and application of interest
Interest is calculated on a daily basis and paid into the account once a month.
Interest due on arranged overdrafts
For GOLD and Select Account
If you have arranged an overdraft facility with us in advance and you use this facility within the thresholds shown below, you will not pay any interest. If the amount you overdraw under an arranged overdraft facility exceeds these thresholds, you will pay interest at the rates shown in the tables below on the overdrawn balance – please note that this includes the part of the balance which is within any interest free threshold that applies to your account. However, we will not charge interest on any part of the overdrawn balance which is an unarranged overdraft or represents fees, charges or costs of the kind described below under the heading `Sums which do not bear interest`.
If you have arranged an overdraft facility with us in advance under which you pay interest at a rate other than the rates shown in the tables below, the interest free thresholds shown below will not apply to your account.
Interest free thresholds
| Type of account | Interest free threshold |
|---|---|
| GOLD Account | £100 |
| Select Account | £100 |
Current rates
| Type of account | Nominal monthly rate % | Nominal annual rate % | EAR % variable |
|---|---|---|---|
| GOLD Account | |||
| All amounts | 0.63% | 7.5% | 7.76% |
| Select Account Overdrafts | |||
| All amounts | 1.52% | 18.28% | 19.89% |
The rate you pay will change automatically as our Bank’s base rate changes in line with interest rates generally.
Calculation and application of interest
Interest on arranged overdrafts is calculated on a daily basis and charged monthly.
The interest we charge in each charging period will be debited from your account 21 days after the end of that charging period (or on the next business day if this is a Saturday, Sunday or Bank Holiday.
The charging period normally ends on the date that we issue your statement to you.
If we are going to debit interest from your account, we will give you not less than 14 days’ notice of how much we are going to debit and when.
Sums which do not bear interest
We do not charge interest on unarranged overdrafts. Nor do we charge interest on any part of an arranged overdraft which represents:
- a Default Notice Fee or other sum (apart from interest) you must pay us in connection with a breach of your obligations under your agreement with us; or
- a Returned Item Fee or Unarranged Overdraft Fee
Interest due on unarranged overdrafts
Any amount overdrawn without an arranged overdraft or in excess of an arranged overdraft limit will be charged at the following rates:
| Type of account | Nominal monthly rate % | Nominal annual rate % | EAR % variable |
|---|---|---|---|
| GOLD and Select Account | |||
| All amounts | 1.52% | 18.28% | 19.89% |
Charges
Arranged Overdrafts, Unarranged Overdrafts, Returned Items and Enforcement Charges
The charges shown in this section do not normally apply to the other accounts we offer to Personal Banking customers. However, we sometimes allow other accounts (including savings accounts) to be operated in a way which enables the customer to give instructions for a withdrawal or other payment which cannot be met from the funds in the account. If this happens, the charges listed below under the heading ‘Unarranged overdrafts and returned items – charges’ will apply.
Changes to charges
From time to time we may alter the charges set out in this section. If we increase a charge, we will notify you personally not less than 60 days before the change comes into effect.
Arranged overdrafts - arrangement and renewal fees
| Fee payable | |
|---|---|
| GOLD Account | |
| Overdrafts up to and including £10,000 | No fee |
| Overdrafts above £10,000 | 2% of the new limit (minimum £45) |
| Select Account | |
| Overdrafts up to and including £7,500, where interest is charged at the standard overdraft rate | No fee |
| Overdrafts over £7,500 or overdrafts where an interest rate other than the standard overdraft rate is payable | 2% of the new limit (minimum £30) |
Unarranged overdrafts and returned items
If we are going to charge you an Unarranged Overdraft Fee and/or a Returned Item Fee, we will give you not less than 14 days’ notice of how much we are going to charge you and when.
| Fee type | When charged | Fee amount |
|---|---|---|
| Unarranged Overdraft Fee | ||
| An Unarranged Overdraft Fee will be charged for each day on which there is an unarranged overdraft of greater than £6 on your account at close of business on that day. Please note: we will only charge an Unarranged Overdraft Fee for a non-business day (i.e. a Saturday, Sunday or Bank Holiday) if there is an unarranged overdraft of greater than £6 owing on your account at close of business on the first following business day | 21 days after the end of the charging period (or the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we issue your statement to you. | £6 for each day for which an Unarranged Overdraft Fee is payable. |
| Returned Item Fee | ||
A Returned Item Fee will be charged if:
| 21 days after the end of the charging period in which we decide not to make the payment (or the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we issue your statement to you. | £6 for each returned item (subject to a maximum of £60 in any charging period). |
| Making an informal request for an unarranged overdraft means you will normally have to pay a Returned Item Fee and/or an Unarranged Overdraft Fee. Please note that it is possible to incur both a Returned Item Fee and an Unarranged Overdraft Fee on your account on the same day or as a result of a single transaction (for example, where we take a Returned Item Fee from your account and this creates an unarranged overdraft of greater than £6 on your account). Savings account customers who have to pay any Returned Item Fees should refer to the table below under the heading ‘Charging and application times for fees incurred on savings accounts’ for details of charging periods and the dates when fees will be deducted. | ||
Enforcement Charges
| Fee type | When charged | Fee amount |
|---|---|---|
| Enforcement Charges | ||
| A Default Notice Fee will be payable if we need to serve a default notice on you (for example, if you fail to repay your overdraft on demand or we wish to enforce any security we hold). This is in addition to any other charges that may apply. | Within four days of the Default Notice being served. | £30 per notice |
Additional services
| Stopping payment instructions | |
|---|---|
| Stopping a cheque (unless it has been lost or stolen) | £10 |
| Payments | |
| Obtaining a sundry payments cheque | £12 |
| Obtaining a special cheque clearance | £15 |
| CHAPS payments | £23 |
| Obtaining copies of statements | £5 per request |
| Certificate of debit interest | No fee |
| Certificate of credit interest | £10 |
| Tailored loan arrangement fee | 2% of amount borrowed (minimum fee £100) |
| International payments | |
| Including currency transfers in the UK currency inward collections | 0.3% (minimum fee £23, maximum fee £40) plus £10 agents charge where applicable |
| Inward payments from overseas | |
| Depending on payment instructions these charges may be for the Over beneficiary or remitter | Up to £100 - no charge Over £100 - £7.50 plus agents charges where applicable |
| Foreign cheques | |
|---|---|
| Cheques drawn at foreign banks in local currency are usually negotiated | Negotiation 0.25% (minimum fee £7, maximum fee £45) |
| The Bank reserves the right to obtain proceeds on a collection basis where appropriate | Collection 0.25% (minimum fee £20, maximum fee £70) |
| Foreign draft | £40 |
| Currency notes and travellers cheques | |
| To buy currency notes and travellers cheques | |
| Currency notes | 0% commission |
| Currency travellers cheques | 0% commission |
| Sterling travellers cheques (Fee free for GOLD Account customers) | 1% of value (min £3, max £50) |
| To cash in currency notes and travellers cheques | |
| Currency notes | 0% commission |
| Currency travellers cheques | 0% commission |
| Sterling travellers cheques | 0% commission |
| Currency notes paid into or withdrawn from a currency account | |||
|---|---|---|---|
| Country | Commission rate | Commission rate | Commission rate |
| USA | US $25,000 and under 1% of value (min $10) | US $25,001 to US $100,000 0.5% of value | Over US $100,000 Contact us for details |
| Euro | €25,000 and under 1% of value (min €10) | €25,001 to €100,000 0.5% of value | Over €100,000 Contact us for details |
| All other currencies | £25,000 and under 1% of value (min £5) | £25,001 to £100,000 0.5% of value | Over £100,000 Contact us for details |
| Outward/Inward payment investigations | |
|---|---|
| Within 6 months of payment release | Up to £25 per item |
| 6 - 12 months from payment release | Up to £50 per item |
| Over 12 months from payment release | Up to £100 per item |
| ibanking plus payments | |
|---|---|
| CHAPS reduced tariff | £15 per item |
| ibanking plus international payments | |
| £5,000 or less | £15 |
| Over £5,000 | 0.3% (maximum £40) |