rates and charges. see how much you could save

Accounts

First 12 months FREE banking then either
Option A Option B
credits to accounts
Automated credits* (eg. BACS) free 25p free
Cheque credits1 free 75p £1.00
Cash & transfer credits free 55p 55p
Cash paid in free £5000 per quarter free then 25p per £100 £500 per quarter free then 50p per £100
payments from accounts
Cash debits free 55p 55p
Cheques issued from book free 55p 55p
Online payments* free 35p free
Direct Debits* free 35p free
Standing orders* free 35p free
Debit card* free 35p free
ATM withdrawals* free 35p free
Debit card & ATM use abroad*6 free free free
Cheques issued in branch free £1.50 £1.50
Transfers at branch counters free 55p 55p
Internal transfers* free 35p free
Cash withdrawn free £1500 per quarter free then 25p per £100 50p per £100
Monthly fee* free £2.00 per month free
credit interest
Variable gross interest2/AER3 0.10% 0.10% 0.00%
Net interest4 0.08% 0.08% 0.00%
debit interest
Standard authorised overdraft interest rate 3.04% per quarter (12.73% p.a. variable EAR)5
Unauthorised overdraft interest rate 4.659% per quarter (19.98% p.a. variable EAR)5

To arrange an appointment to discuss opening a business current account, or to simply arrange a comparison with your present bank charges, contact us using any of the methods on the left.

Interest rates correct at 01/04/09.

(1) Maximum 5 cheques allowed per credit

(2) Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law

(3) Annual Equivalent Rate (AER) illustrates what the interest rate would be if interest was paid and added each year.

(4) Net interest is the rate of interest which would be payable after allowing for the deduction of income tax at 20%, ie. the rate specified by law. Net interest rates have been rounded and are for illustrative purposes only.

(5) EAR - Effective Annual Rate. Charges are calculated quarterly at the end of March, June, September and December and are deducted from accounts on or around the 26th day of the following month. The Society reserves the right to vary the above charges for high volume accounts (over £250,000 credit turnover).

(6) Normal ATM withdrawal fee still applies.

(7) The Cumberland does not charge you to use ATMs abroad but the provider of an ATM may apply a charge. The sterling conversion amount debited to your account will include any VISA processing fees.

* Automated transactions. All other chargeable transactions above are manual.

This site is intended for residents of the United Kingdom only. © Cumberland Building Society 2010. All Rights Reserved.
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