Business banking bulletin Introductory offers on business banking These introductory offers apply to the accounts marked with on current account pages.
Start-up businesses opening a BANK OF IRELAND UK Business Current Account (NI) with turnover up to £1m receive 2 years’ free banking. Start up businesses can also receive unsecured overdrafts and loans of up to £30K or secured overdrafts and loans of up to £250K. Start up businesses can also avail of discounted partner offers, covering areas such as employment law, website development, telecommunications, accounting software, fleet management and insurance.
New business start-ups opening a BANK OF SCOTLAND Business Extra/Electronic Business Tariff Account receive 18 months free day-to-day banking and free SAGE Planning for Business software. Businesses transferring their account receive 6 months free day-to-day banking and a dedicated switcher team. Free business banking includes cheques, standing orders, cash, Direct Debits, deposits and withdrawals. Account should be operated whilst in credit or within agreed limits.
Clients on the Business Credit Interest Tariff (Small Businesses) or Free Automated Transactions Tariff with BARCLAYS BANK receive up to 2 years’ free banking. Available for individuals setting up their first business bank account for a business within the first 12 months of trading. There is no charge for standard transactions for 12 months with the Business Credit Interest Start-up package. There is no charge for standard tranctions for 18 months if the CREDITFOCUS Pro software is purchased along with a start-up package. There is no charge for standard transactions for 18 months if the Barclays Business Essentials, Business Essentials Plus or Barclays Business Manager packages are purchased. There is no charge for
standard transactions for 2 years if the Barclays Business Essentials and CREDITFOCUS Pro are purchased at the time of opening the account. This is only applicable for new businesses opening their account with Barclays. This applies to everyday sterling debit and credit transactions and the maintenance fee. Accounts must be active.
Start-up businesses with turnover up to £1m opening a CLYDESDALE BANK Current/Business Choice Account receive 12 months’ free banking.
12 months’ free banking for businesses opening a CUMBERLAND BS Business Current Account.
Both business start ups and business switchers (those moving their business account to HSBC) are eligible for 18 months free business banking; for annual turnover below £500K, customers can have either the HSBC Business Direct or HSBC Small Business Tariffs. For turnovers greater than £500K but less than £2m, customers go onto the Small Business Tariff. Free business banking means that during the free business banking period the customer is not charged for the provision of our standard account services.
New business start-ups opening a LLOYDS TSB Business Extra/Electronic Business Tariff Account, Monthly PricePlan receive 18 months free day-to-day banking and free SAGE Planning for Business software. Businesses transferring their account receive 6 months free day-to-day banking and a dedicated switcher team. Free business banking includes cheques, standing orders, cash, Direct Debits, deposits and withdrawals. Account should be operated whilst in credit or within agreed limits.
Start-ups opening a Standard, Foundation or Business Plus Account with NATWEST or NATWEST DIRECT BUSINESS BANKING will receive 24 months' free banking. Charges for the day to day running of the account will not apply during the free banking period. Charges for Additional Services and Unarranged Borrowing are not part of the free banking offer. Free banking applies to businesses that started trading within the past twelve months with projected or existing annual turnover not exceeding £1 million.
24 months' free banking for business start-ups opening a Foundation or Business Current Account with ROYAL BANK OF SCOTLAND. Charges for the day to day running of the account will not apply during the free banking period. Charges for Additional Services and Unarranged Borrowing are not part of the free banking offer. Free banking applies to businesses that started trading within the past twelve months with projected or existing annual turnover not exceeding £1 million.
Start-up businesses with turnover up to £1m opening a SANTANDER Business Current Account will receive 12 months’ free banking if business is under 12 months old. Start-up Extra offers free banking for 18 months if business is under 12 months’ old and customer opens or holds a personal current account with Santander.
New business start-ups with a maximum turnover of £1m will receive 12 months’ free banking with YORKSHIRE BANK Current/Business Choice Accounts.
Commission payable to authorised professional introducers on business accounts
CATER ALLEN PRIVATE BANK Ongoing commission on cleared balances: Reserve for Pensions, Corporate, Asset 30, Business Notice 95: 0.15%; Reserve, Reserve for Trusts: 0.25%.Able to rebate commission to enhance client’s rate
LOUGHBOROUGH BS PROGRESSIVE BS
Local area only - 0.25%. Minimum investment period 6 months.
Commission paid to selected intermediaries - rate depends on product.
Money market deposits
All banks and major building societies accept money market deposits. Minimum investment and length of term vary; some fix their rates daily but the majority are liable to change throughout the day. Up to date rates can be obtained from the following institutions’ Treasury Departments:
ONSHORE STERLING Bank of Cyprus
Bank of Scotland Barclays Bank Bath BS Britannia
Butterfield Private Bank
0845 850 5555 Via local branch Via local branch 01225 423271 01538 399407 020 7776 6780
Cater Allen Private Bank Chelsea BS
Clydesdale Bank Halifax HSBC
Investec Bank
0800 092 5500 Via local branch Via local branch Via local branch
Julian Hodge Bank Leeds BS
Lloyds TSB Marfin Laiki Bank
Via local branch/08456 060600 0845 366 6333 029 2022 0800 0113 225 7603 Via local branch 020 7307 8415
NatWest Newcastle BS Northern Bank (NI)
Norwich & Peterborough BS Royal Bank of Scotland Santander Skipton BS Ulster Bank
Yorkshire Bank
Via local branch 0191 244 2283 028 9004 8642 Via local branch Via local branch 020 7756 4200 01756 705502/62 028 9027 6640 Via local branch
OFFSHORE STERLING Lloyds TSB International NatWest Jersey
ONSHORE U.S. DOLLAR Clydesdale Bank HSBC
Lloyds TSB Royal Bank of Scotland
01624 638000 01534 282828
Via local branch Via local branch Via local branch Via local branch
SCOTTISH BS SCOTTISH WIDOWS BANK
Up to 0.30% on average daily balance, paid quarterly Charity Deposit 7 Day, Club & Association Deposit 7 Day,
www.scottishwidowsbank.co.uk Pension and Trust Fund Deposit, Trust Fund 7 Day notice and 1 Year Fixed Term Deposit - 0.20% pa on average balance, paid quarterly. 5 Year Pension Fund Fixed and 5 Year Fixed Term Deposit - 0.30% pa on average balance, paid quarterly
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READERS ARE REMINDED THAT BUSINESS MONEYFACTS IS COPYRIGHT
March 2012
BUSINESS BANKING
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