Business Money
®
Business Overdraft Charges Allied Irish Bank (GB) Negotiable – normally 1.5% (min £500) Bank of Ireland UK Bank of Scotland Bank of Scotland Barclays Bank Clydesdale Bank First Trust Bank HSBC Lloyds TSB NatWest Bank Northern Bank
Santander Business Banking
Santander Corporate Banking
Ulster Bank Yorkshire Bank
K e y
Negotiable Negotiable (f) Negotiable Negotiable Negotiable (h) Negotiable Negotiable Negotiable Royal Bank of Scotland Negotiable Up to £1m £25,001+ to negotiable The Co-operative Bank Variable (a) Negotiable Negotiable Negotiable Negotiable Negotiable Negotiable Negotiable Negotiable Negotiable Negotiable Negotiable Negotiable Negotiable Negotiable 5.90 ABR Negotiable Variable Negotiable Negotiable
Arranged rate + 1.50% per month
Arranged rate + monthly surcharge
Base +22.50%
29.50% managed rate
29.25%
Base+ agreed rate+ 1% per month (b)
EAR 25.80% quarterly EAR 26.30% monthly
2.20% per month 29.50% £25.00 £19.00 Base +22.50% – £30.00
£3.50 (c) –– £30.00
Free Free £20.00 – £20.00 – – – – £38.00
£30.00 (£90.00 daily max)
£35.00 (£105.00 daily max)
£30.00 each, over £30.00 (d)––– £35.00
£25.00 (g) ––– £35.00 £14.00 £13.00 – – £38.00
(i) ––– Under £25.00: free, over £25.00: £25.00
£15.00 Free –– £35.00 £30.00 ––– £35.00 16.00% above base £25.00 29.50% 29.90 EAR Free Free Free £28.00 – ––– £35.00 £30.00 ––– £32.00 Base + 25.00% Up to £32.00 Free Free Free Up to £32.00 1.92% per month Negotiable 29.25% £10.00 £13.00 £15.00 £5.00 £12.00 £30.00 £13.00 –– £38.00 £25.00 (g) ––– £35.00
(a) Overdrafts up to £25k attract monthly utilisation fee. No utilisation, no fee (b) Minimum of £2.00 per month (c) £3.50 standard, £7.50 non standard (d) First unauthorised borrowing event which occurs in each charging quarter will be free of charge (except on the free automated transaction tariff and standard business tariff) (e) pending decision re branding (f) Direct Business Cheque Account – minimum £125.00 or 1% (g) Debit movement fee only charged on irregular accounts if there is an increased daily balance (h) 1.75% to £30k, (min £100), 1.25% £30k+ (i) Customers over their overdraft limit are charged £4 a working day and those without an overdraft limit, £8 a working day.
All information © Copyright Business Money Ltd 2010
Business Money
®
K e y
The information in this table is updated every month. The Guide to Business Money Tables is on page 74 Business Bank Account Tariffs – Key
(a) No charge if lost/stolen (b) Free for first 18 months (c) £25 manual, £20 over the phone and £12 HOBS (d) £15 per quarter, normal transaction fees apply (e) Only applies for amounts over £100 (f) £25 per hour + VAT (min £25) (g) £300/£660(<£100k turnover/ <£250k turnover (h) All at manager’s discretion (i) 54p/payments via debit card 45p (j) If cheques paid in for clearance exceed 2,500 per quarter, a seperate negotiable tariff is applicable (k) One copy of last 12 months free - thereafter negotiable (l) Returned cheques £0 for items of less than £25, £25 thereafter (m) Auditors certificate of balance £25+VAT, auditors request for bank report - variable, min £25+VAT (n) £3,000 free per month, then 50p per £100 thereafter (o) 30 day-to- day items per statement month free of charge else 75p per item (p) First 100 per month free then 50p per item (q) Can pay in £3,000 cash per month then 50p per £100 thereafter (r) No monthly fee for Business Express customers (s) including manually typed duplicates (t) By Business Cashsaver, 0.65% while you wait (u) 100 withdrawals per month by either cash or cheque free then 50p per item (v) £4k per month then 75p per £100. (w) Cheque cards are only available to sole traders and partnerships’ as Ltd companies can have debit cards (x) Min 1 hour + VAT (y) £25 + VAT per half hour (I) Internet access. (z) £30 per item, £90 daily max (1) £60+VAT bank to open, £120 rental only (2) per hour + VAT ( min. £25.00) (3) Per hour + VAT (min £27.50 (5) 100 cheques free, then 25p per cheque (6) No charge if the cheque is stolen (there will be a charge if it is lost) (7) If over £100 (8) Plus expenses (9) A £5 charge will be applied for any month when funding of the account is less than £1,000 (10) 20 cheques per month free then £1 (11) 20 cheques per month free then 75p (12) £3.15 pcm when activity on account (13) Now £20 up to £100k and £25 over £100k.
Introductory offers: Bank of Ireland (NI): 24 months free banking for start up businesses with a turnover under £1m. Barclays: Up to 2 years free banking. Available for individual(s) setting up their first business bank account for a business within its first 12 months of trading. There is no charge for standard transactions for 12 months with the Standard Business Start-up package and 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 two years if the Credit Manager software is purchased along with a Business Essentials package. This is only available 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. Clydesdale Bank: 12 months free transactional banking for business start-ups with turnover less than £1m. HSBC: New businesses receive 18 months free banking. Free offer for switchers is 18 months. Lloyds TSB: 18 months’ free day-to-day banking for new business start-ups with turnover up to £2m. NatWest/ RBS: 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 £1m. Northern Bank: Up to 12 months free banking for start-ups meeting certain criteria, registration for 24-hour telephone banking, free Telebank business software demo disk and financial health check. Santander: 6.0% switcher rate. Santander Corporate Banking: Available to corporate customers with an annual turnover of +£1m per annum. No min balance requirements. Additional tariffs are available for customers who hold an average current account balance of +£50k. There is a minimum monthly funding requirement of £50k, otherwise an underfunding fee of £25 will be applied to the account for that month. Ulster Bank: 12 months transaction free banking for start up businesses with turnover of £100k, dedicated relationship manager, free business service review. Yorkshire Bank: 12 months free transactional banking for business start-ups with turnover less than £1m. Small Business tariff no longer available to new customers.
All information © Copyright Business Money Ltd 2010 The information in this table is updated every month. The Guide to Business Money Tables is on page 74 Business Money November/December 2010 11
Name of lender
Up to £1,500 Up to £3,000 Up to £5,000 Up to £10,000 Up to £15,000 Up to £100,000 Up to £250,000
Up to £750,000 £750,000+
Arranged Overdraft Rate
Unrranged Overdraft Rate
Unauthorised Excess Fee
Unauthorised Excess Advice Letter
Unauthorised Excess Advice Statement
Unauthorised Excess Advice Telephone
Item returned due to lack of funds
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