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Bank of Scotland SME Account Charges
This section gives a summary of charges for our most frequently used services. If you need information on specialist charges please contact your Relationship Manager or call us on 0845 850 1727.
| SME Current Account |
|
ITEM
|
DESCRIPTION
|
TRANSACTION CHARGE
|
| Pay-ins to your account |
- Over the counter, Business Cashsaver
- Automated e.g. BACS, CHAPS
|
25p each
25p each
|
| Items included in your pay-in |
e.g. Cheque, batch of credit card voucher |
24p each |
| Cheques paid from your account |
- Retained by the bank
- Returned with your statement
|
50p each
69p each
|
| Direct Debits and other automated debits |
e.g. ATM withdrawals |
35p each |
| Standing Orders |
|
45p each |
| Payments made by Corporate HOBS and Corporate Internet Banking |
e.g Bill payments and third party payments
- To a single beneficiary
- To multiple beneficiaries |
25p each
8p each
|
| Payments made by Internet and Telephone Banking |
|
25p each |
| Cash paid in while you wait |
|
65p per £100 |
| Cash paid in using Business Cashsaver |
A quick and efficient cash handling service which means you don't have to wait while your cash is being counted. Please ask us for details.
|
50p per £100 |
| Cash withdrawn |
|
59p per £100 |
Providing change
|
- Account holders
- Non-account holders |
£1.25 per £100
5% (minimum £2)
|
| SME Direct Business Cheque Account |
|
ITEM
|
DESCRIPTION
|
TRANSACTION CHARGE
|
| Cheques |
All cheques paid from account
|
40p each
|
| All other transactions |
e.g. Standing order payments, Direct Debits, cheque pay-ins and inter-account transfers |
Free
|
All other services on Bank of Scotland SME Current Accounts
|
SERVICE
|
DESCRIPTION |
CHARGE |
| Statements |
- Standard
- Duplicate
|
Free of charge
£5 per page (maximum £10)
|
| Sterling Bank Draft |
|
£10 per draft |
| Stopping a cheque |
|
Free of charge |
| Cheques paid into your account returned unpaid |
|
Free of charge |
| Copy Vouchers |
e.g. Copy of an original cheque you have issued, or a copy of a pay-in slip |
£5 per item |
| Same day transfer of money by CHAPS |
|
£20 per transfer
(£12 if made by you via Corporate HOBS or Corporate Internet Banking)
|
|
Payments and collections via BACS
|
- Per credit/debit item
- Per file direct (via own software)
- Per file indirect (via Commercial Bureau)
- Referral of file e.g. over BACS limit
- Request for BACS file extraction
- Request for BACS file missing payment trace
|
3.8p
£3.85
£2.12
£50 per file referred
£40
£10
|
|
Other Fees
|
- Smartcard
- Smartcard Reader
- RSA Secure ID Token
|
£30
£35
£70
|
| Special presentation of cheques |
|
£12 per cheque (plus expenses) |
| Status enquiries |
- On Bank of Scotland customers
- On customers of other banks |
£10 (including VAT)
Price on request
|
| Cash withdrawal facility |
|
£10 per facility |
| Your payments returned unpaid |
|
£35 per item (maximum £105 per day)
|
| Unauthorised overdraft letter |
|
£30 per letter |
| Portable Credit History |
|
£25 per request (2 requests are allowable free of charge over a 12 month period) |
| Corporate Visa* |
Annual spend per cardholder
Under £2,500
£2,500 to £4,999
£5,000 to £9,999
£10,000 and above
|
£20 per year
£16 per year
£12 per year
£8 per year
|
| PC Banking |
Internet Banking
Business HOBS
Corporate Internet Banking
Corporate HOBS
All versions include free PC software if required.
|
Free of charge
£30 per month
£50 per month
£70 per month
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| Night safe facilities |
|
Free of charge
|
| Auditor’s standard letter of request |
|
£25 per hour (plus VAT) |
*Corporate Visa Card is free for the first 12 months. Annual fees for Year 2 are payable in month 13, based on total card spend in the previous year.
We apply your charges on a monthly basis
Our charging period starts on the day after your monthly statement is produced. If your statements are weekly or bi-monthly our charging period will be based on the day after your first statement of the month is produced.
Interest on a SME Current Account or SME Direct Business Cheque Account overdraft
Our rate will be the Bank of Scotland Base Rate plus a further margin agreed with you. The final rate we agree will normally depend on the degree of risk involved and whether or not you're offering security. Our Base Rate is variable and subject to change, but the percentage above it that we agree will be fixed until the overdraft is due for renewal provided that you stay within your agreed limit.
How we calculate overdraft interest
We calculate interest daily and generally apply it to your account monthly. Interest charged is shown on your account statement but will not be charged to your account until 14 days after your statement is produced.
| Interest due up to 50p |
No charge applied
|
| Interest due 51p to 99p |
Minimum charge of £1 applied
|
| Fees normally charged on overdrafts |
Arrangement fee* |
Renewal Fee**
|
| SME Current Account |
From 1% of agreed limit
(minimum £100)
|
From 1% of agreed limit
(minimum £100)
|
* Arrangement fee covers the Bank's costs in assessing and setting up a new of increased overdraft.
** Renewal fee covers the Bank's costs of reviewing eligibility for the renewal of an overdraft and the cost of making the funds available.
| Fees normally charged for business loans |
|
| Arrangement fees |
From 1% of the loan (minimum £100) |
| Security fees |
We will be pleased to provide you with an
estimate of the fees and expenses which
may be payable when Bank of Scotland
takes security.
|
Legal and Valuation Fees
We do not normally pay the Legal and Valuation Fees sometimes associated with arranging business borrowing.
Unauthorised Borrowing
Our standard rate for unauthorised borrowing is 22.5% above the Bank of Scotland Base Rate (displayed in our branches) or a rate agreed with you and recorded in your loan agreement. To discuss this further contact your Relationship Manager.
How do we notify you of changes to our charges (except those listed under 'other services')
We will contact you direct at least 30 days before the change takes effect.
How can I compare your rates with other banks?
You can compare our interest rates with those paid by other banks by visiting the British Bankers' Association website at www.bba.org.uk
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