Company and Club account
From charities, sports and social clubs, corporate deposits, pensions or solicitor client accounts, this account covers them all.
Summary of the key product features for this account
Summary Box
Key Product Information for our Savings Accounts |
| Account name |
Company and Club account |
| Interest rates (AERs) |
| Charity deposits |
| Interest Tier |
AER |
| £1 |
0.10% variable |
| £50,000 + |
0.10% variable |
| £100,000 + |
0.10% variable |
| £250,000 + |
0.15% variable |
| Sports and social clubs |
| Interest Tier |
AER |
| £1 |
0.10% variable |
| £10,000 + |
0.10% variable |
| Corporate deposits |
| Interest Tier |
AER |
| £10,000 |
0.10% variable |
| £100,000 + |
0.10% variable |
| £250,000 + |
0.10% variable |
| Pension funds |
| Interest Tier |
AER |
| £1 |
1.50% variable |
| £50,000 + |
1.50% variable |
| Solicitors' undesignated client account |
| Interest Tier |
AER |
| £1 |
0.10% variable |
| £50,000 + |
0.10% variable |
| £100,000 + |
0.10% variable |
|
| Tax status |
Interest is paid net of tax unless you have registered a 38(INP) form |
| Conditions for bonus payment |
There is no bonus payment for this account |
| Withdrawal arrangements |
Immediate access |
| Access |
Access is via post, or one of our branches |
- Open with just £1 (Limited Companies are £10,000)
- Banking is free for all accounts, with the exception of the Corporate Deposit account (in this case, if the cleared balance on your account is less than £20,000 you are allowed 20 free cheque receipts and 10 free cheque withdrawals a month. If this is exceeded, there is a charge of 75p per transaction)
- Interest can be paid gross with no tax deducted for certain types of deposit accounts (please ask for details)
- Interest is paid annually on 31 December and credited directly to your account (for Charities the interest is paid annually on 31 March)
current rates |
previous rates
Charity deposits
| Minimum investment |
Investment amount |
Gross p.a. / aer % |
Net p.a. %
(after deduction of basic rate tax) |
| £1 |
|
0.10 |
- |
|
£50,000 + |
0.10 |
- |
|
£100,000 + |
0.10 |
- |
|
£250,000 + |
0.15 |
- |
current rates valid from 1 April 2009
Sports and social clubs
| Minimum investment |
Investment amount |
Gross p.a. / aer % |
Net p.a. %
(after deduction of basic rate tax) |
| £1 |
|
0.10 |
0.08 |
|
£10,000 + |
0.10 |
0.08 |
current rates valid from 1 April 2009
Corporate deposits
| Minimum investment |
Investment amount |
Gross p.a. / aer % |
Net p.a. %
(after deduction of basic rate tax) |
| £10,000 |
|
0.10 |
0.08 |
|
£100,000 + |
0.10 |
0.08 |
|
£250,000 + |
0.10 |
0.08 |
If the balance falls below £10,000 the interest rate will be 0.10 gross rate/AER and 0.08 Net p.a. % for balances of £500 or more
current rates valid from 1 April 2009
Pension funds
| Minimum investment |
Investment amount |
Gross p.a. / aer % |
Net p.a. %
(after deduction of basic rate tax) |
| £1 |
|
1.50 |
- |
|
£50,000 + |
1.50 |
- |
current rates valid from 1 November 2009
Solicitors' Undesignated Client account
| Minimum investment |
Investment amount |
Gross p.a. / aer % |
Net p.a. %
(after deduction of basic rate tax) |
| £1 |
|
0.10 |
- |
|
£50,000 + |
0.10 |
- |
|
£100,000 + |
0.10 |
- |
current rates valid from 1 April 2009
Charities
| Minimum investment |
Investment amount |
Gross p.a. / aer % |
Net p.a. %
(after deduction of basic rate tax) |
| £1 |
|
0.10 |
- |
|
£50,000 + |
0.30 |
- |
|
£100,000 + |
0.55 |
- |
|
£250,000 + |
0.65 |
- |
previous rates valid from 1 March 2009 to 31 March 2009
Sports and social clubs
| Minimum investment |
Investment amount |
Gross p.a. / aer % |
Net p.a. %
(after deduction of basic rate tax) |
| £1 |
|
0.10 |
0.08 |
|
£10,000 + |
0.10 |
0.08 |
previous rates valid from 1 March 2009 to 31 March 2009
Corporate deposits
| Minimum investment |
Investment amount |
Gross p.a. / aer % |
Net p.a. %
(after deduction of basic rate tax) |
| £10,000 |
|
0.10 |
0.08 |
|
£100,000 + |
0.15 |
0.12 |
|
£250,000 + |
0.45 |
0.36 |
If the balance falls below £10,000 the interest rate will be 0.10 gross rate/AER and 0.08 Net p.a. % for balances of £500 or more
previous rates valid from 1 March 2009 to 31 March 2009
Pension funds
| Minimum investment |
Investment amount |
Gross p.a. / aer % |
Net p.a. %
(after deduction of basic rate tax) |
| £1 |
|
0.10 |
- |
|
£50,000 + |
0.10 |
- |
previous rates valid from 1 April 2009 to 31 October 2009
Solicitors' Undesignated Client account
| Minimum investment |
Investment amount |
Gross p.a. / aer % |
Net p.a. %
(after deduction of basic rate tax) |
| £1 |
|
0.10 |
- |
|
£50,000 + |
0.10 |
- |
|
£100,000 + |
0.10 |
- |
previous rates valid from 1 March 2009 to 31 March 2009
Identification for company and club accounts
- Limited Company
- Copy of the Certificate of Incorporation
- Memorandum and Articles of Association
- Resolution of the Board of Directors to open an account and confer authority on those who operate it
- Names of all Directors
- Identity and address verification (one document from each list in our proof of identity section - click here to view) of at least one Director and all persons authorised to operate the account
- Clubs and Societies
- The Constitution of the Club, Society or Association
- A written authority signed by all officials approving the opening of the account
- Identity and address verification (one document from each list in our proof of identity section - click here to view) of the person(s) authorised to operate the account
- Charities
- The Constitution of the Charity
- A written authority signed by all officials approving the opening of the account
- Identity and address verification (one document from each list in our proof of identity section - click here to view) of the person(s) authorised to operate the account
- Charity number
- Solicitors
- Declaration confirming that you are acting for a client/ estate
