Treasurers Bank Account rates and charges

If any changes are made to the transaction charges, we will send you details at least 30 days before the new charges are implemented, which will be from the first statement date following the effective date of change.

Details of your account transaction charges will be advised with your statement and will be debited to your account 14 days after your statement date.

Credit interest

Credit balances on Treasurers Bank Account earn interest that is calculated on a daily basis and is credited to the account monthly.  The annual rates of interest currently payable are:

For charities and most organisations the interest is paid gross.

**AER:  Annual Equivalent Rate represents the annual rate effectively received by the customer if interest at the gross rate applied during a year remained in the account and itself earned interest.  As every advert for a product where a rate is displayed will contain an AER, you will be able to compare more easily what return you can expect over time.

*Gross rate:  The rate of interest paid without the deduction of tax, to eligible non-taxpayers.

***Net rate:  Gross rate less tax (current rate 20%)

Borrowing

Prior to overdrawing the balance available in an account, it is necessary to have the Bank's agreement.   For further information about arranged overdrafts, please call into your local Branch and speak to a member of staff. 

Base rate is subject to change.  When a change occurs we will advise you by branch notice, leaflets and press notice or by personal notification. 

Debit interest

Overdraft interest is calculated on a daily basis and is debited monthly to your account.  Where appropriate, you will receive a notice detailing the amount of debit interest due.

This will be charged to your account 14 days later.

Minimum amount of debit interest

The minimum amount of debit interest charged to accounts is as follows:

• Interest due up to 50p - nil applied
• Interest due 51p to 99p - minimum charge £1 applied.

Unarranged overdraft rate

(including overdrafts in excess of an agreed limit)

22.5% p.a. over the banks base rate.

Administration charge

A fee of £30 will be charged without prior notice on each occasion the overdraft limit is exceeded, or unarranged borrowing is increased.

Returned Item Charge

A fee of £35 will be charged for returned unpaid items, such as cheques, standing orders and Direct Debits.

Special requests

The following charges are debited to the account at the time they are incurred:

Other charges

• Administration charge on closure of account - NONE
• Cheques returned unpaid - FREE (included in lodgements)

The Governor and Company of the Bank of Scotland constituted under an Act of Parliament dated 1695. Head Office: The Mound, Edinburgh EH1 1YZ.  Bank of Scotland subscribes to the Banking Code.  Copies are available on request.  Bank accounts are provided by Bank of Scotland.

If you are unhappy about your choice of current or savings account, the cooling-off period described in the Banking Code may apply.  Bank of Scotland is subject to the jurisdiction of the Financial Ombudsman Service, contact details South Quay Plaza, 183 Marsh Wall, London, E14 9SR.  Telephone 0845 766 0902. 

Bank of Scotland is a member of the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000.  We may monitor and record telephone calls to help us provide a higher level of service.

Information is available in large print, audio and Braille on request, please call for details.