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Euro Account

Simplifying trading in Euros

Bank of Scotland's Euro Accounts have been created to make the process of trading in Euros simple and is available to anyone that has a Bank of Scotland sterling business account.

Key Features

  • Make and receive payments in Euros.
  • Simplify the collection and payment of funds.
  • No minimum balance required.

For more information call 0845 606 0286

  • Enables you to make and receive payment in Euros.
  • Simplifies the collection and payment of funds across Europe.
  • Quick and easy transfer of funds between your sterling business account and your Euro account.
  • Overdraft facilities may be available on Euro Current Accounts to help you manage your cash flow and foreign exchange risks.
  • For Euro Current Accounts regularly in credit, Euro Call Accounts can be opened to transfer the surplus so that qualifying balances will earn credit interest.

Lending is subject to status

Changes in the exchange rate may increase the sterling equivalent of your debt.

The information below applies to Euro accounts opened on or after 12 September 2011. For Euro accounts opened before 12 September 2011, please check with your Relationship Manager for which rates and charges apply.

Details of conditions, charges and interest rates for this account.

If you would like to know what your currency account’s reference rate is linked to and where this is independently published, view our Foreign currency interest rate guide.

Debit interest

Overdrafts are subject to arrangement for Euro Current Accounts.

Unauthorised borrowing will be charged at 12% over the reference rate of the account's currency.

Credit interest (Euro Call Account)

Credit interest is linked to the Euro Overnight Index Average (EONIA®).

Credit interest is paid on a seven tiered tranche as follows:-

Interest rate bands

EONIA

<£3,000

No interest paid

£3,000 to £19,999

-3.50%

£20,000 to £39,999

-2.50%

£40,000 to £79,999

-1.50%

£80,000 to £199,999

-1.00%

£200,000 to £399,999

-0.50%

£400,000 to £799,999

-0.25%

£800,000+

Full rate

The EONIA rate can be obtained from a number of independent sources including the Financial Times

Note: Should the relevant reference rate fall below the applicable interest rate band margins specified above no interest will be paid.

Conditions

Please visit our terms and conditions section to view all terms and conditions, charging and associated information.

For more information call 0845 606 0286

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Bank of Scotland plc is covered by the Financial Services Compensation Scheme and the Financial Ombudsman Service. (Please note that due to the schemes' eligibility criteria not all Bank of Scotland business customers will be covered by these schemes.)

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.