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Interest rates

Interest rates for Business Bank Account
If you require up to date rates or further information on the Business Bank Account please call 0845 6070 666.

Tier	Gross rate p.a. /AER*	Net rate p.a.	Monthly gross rate p.a.	Monthly net rate p.a.
£100,000 plus	3.00%	2.40%	2.96%	2.37%
£25,000 up to £99,999	2.25%	1.80%	2.23%	1.78%
£10,000 up to £24,999	1.25%	1.00%	1.24%	0.99%
£5,000 up to £9,999	0.75%	0.60%	0.75%	0.60%
£1 up to £4,999	0.25%	0.20%	0.25%	0.20%

Rates effective from 3^rd March 2008. Rates may vary, please visit this website regularly to check for changes.

To view our previous rates for our Business Bank Account please click here

Interest rates for Business Reserve Account
If you require up to date rates or further information on the Business Reserve Account please call 0845 6070 666.

Tier	Gross rate p.a. /AER*	Net rate p.a.	Monthly gross rate p.a.	Monthly net rate p.a.
£3,000,000 plus	5.22%	4.18%	5.10%	4.08%
£1,000,000 up to £2,999,999	5.03%	4.02%	4.92%	3.94%
£500,000 up to £999,999	5.00%	4.00%	4.89%	3.91%
£250,000 up to £499,999	4.75%	3.80%	4.65%	3.72%
£100,000 up to £249,999	4.25%	3.40%	4.17%	3.34%
£10,000 up to £99,999	3.75%	3.00%	3.69%	2.95%
£1 up to £9,999	3.25%	2.60%	3.20%	2.56%

Rates effective from 10^th April 2008. Rates may vary, please visit this website regularly to check for changes.

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. The Gross rate of interest is the rate of interest payable before the deduction of income tax. You may be able to receive interest gross, otherwise interest will be paid net of income tax at the prescribed rate. Interest is payable monthly. We will notify you within 30 days of any change to our interest rates.

To view our previous rates for our Business Reserve Account please click here

Interest rates for time deposits
Because of the nature of this market, the rates below have to be indicative only. For firm quotes, including amounts higher than £4,000,000 and periods less than 1 month, please call us on 0845 6000 636.

Period required	Amount deposited £50,000 - £249,999 Gross	Amount deposited £50,000 - £249,999 AER*	Amount deposited £250,000 - £4,000,000 Gross	Amount deposited £250,000 - £4,000,000 AER*

The rates shown above are indicative and may vary. For the most up to date time deposit rates please call 0845 6000 636
The gross rate of interest is the rate of interest payable before the deduction of income tax.
* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

Charges

Free day to day banking forever
This tariff offers businesses operating within specified transaction limits, free day to day banking forever. Charges apply for transactions that exceed the specified free limits and for non-standard services listed below. The following table details the transactions you can make free of charge each month and the charges you will incur if you exceed the limits specified.

Transaction	No. of free transactions (per month)	Charge for exceeding free limit
Cheques deposited	100	50p per item
Cash deposited¹	£3,000	50p per £100
BACS credited	No limit	Free forever
Cash and cheque withdrawals	100	50p per item
Debit card payments	No limit	Free forever
Direct debits, standing orders and bill payments	No limit	Free forever
Transfers between linked Abbey business accounts	No limit	Free forever

All charges are effective from 24^th March 2005 and are exempt from VAT.
Charges for exceeding the limits for free banking are 50p per item and 50p per £100 cash deposited.
*Should government legislation impose taxation changes, we reserve the right to recover any costs associated with such legislation.
¹ Cash deposits made at cash machines located at Abbey branches. Only banknotes can be deposited.
Subject to the relevant changes to the law, regulation or the imposition of any tax in connection with bank charges. Fixed charges apply for transactions that exceed the specific free limits. Details of monthly transaction limits are available upon request from Abbey business. All charges are effective from 1^st January 2004 and are exempt from VAT.

Non-standard service charges
The following charges are applicable to the Abbey Business Bank Account and Reserve Account.

Description	Charge
Authorised overdraft interest rate²	5.9% above base rate
Authorised overdraft annual commitment fee	1% of facility, minimum �50 p.a.
Unauthorised overdraft interest rate ³	29.9% APR
Unauthorised overdraft monthly fee ³	£15.00
Charge for each debit transaction paid whilst overdrawn unauthorised ⁴	£30.00
Please note: An unauthorised overdraft fee and interest may be incurred solely as a result of charges being debited in the previous month.
Unpaid cheque/direct debit/standing order/bill payment ³	£32.00
Special presentations - per cheque ⁴	£12.00
Unpaid cheque fee ⁴	£35.00
Photocopy of cheque ⁴	£4.00
CHAPS payment (UK) ⁴	£20.00
CHAPS payment (International) ⁴	£25.00
Telegraphic Transfer ⁴	£20.00
International Telegraphic Transfer (foreign currency) ⁴	£25.00
International Telegraphic Transfer (foreign sterling) ⁴	£20.00
Bankers Draft ⁴	£10.00
Foreign drafts ⁴	£10.00
Audit replies ⁴	£25.00 plus VAT
Status replies ⁴	£10.00
Stopped cheques ⁴	£10.00
Use of Visa card within Europe & rest of the world ⁴	2.75% of the value
Deed of guarantee and indemnity ⁴	1.5% p.a (min £100)

² Not available on Business Reserve Account.
³ These charges and all transaction charges will be notified to you at least 14 days before they are debited to your account.
⁴ These charges will be applied at the time they are incurred.
Authorised overdrafts are only available on bank accounts opened since 2 Jan 2002.
All overdraft interest rates are variable. The Abbey Business Bank account and Reserve Account are subject to status and are not available to persons under the age of 18.

We may vary existing charges or introduce new charges. If this happens, we will let you know at least 30 days in advance.

Cash machine usage

Abbeylink or link network cash machine charge	No charge
PLUS cash withdrawal handling charge ⁵	1.5% of the value (min £1.50)
Cash withdrawal handling charge from Cirrus badged machines ⁶	£1 + 1.5% of the value
Visa cash withdrawal handling charge⁷	1.5% of the value (min £1.50)

⁵ By Electron card holders from cash machines displaying the PLUS symbol, but which are not part of the Abbeylink or Link cash machine networks.
⁶ By 24 hour card holders from cash machines displaying the Cirrus symbol but which are not part of the Abbeylink or Link networks.
⁷ By Debit Card holders from banks, organisations or cash machines displaying the VISA symbols but which are not part of the Abbeylink or Link cash machine networks.


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