This account is available to schools of all types and sizes within our operating area, and offers:
...our dedicated team will do all of this for you:
| Credits to your account | |||
| Automated credits (e.g. Bacs) | free | ||
| Cheque credits1 | free | ||
| Cash & transfer credits | free | ||
| Cash paid in | free | ||
| Payments from your account | |||
| Cash debits | free | ||
| Cheques issued from book | free | ||
| Online payments | free | ||
| Direct Debits | free | ||
| Standing orders | free | ||
| Cheques issued in branch | free | ||
| Transfers at branch counters | free | ||
| Internal transfers | free | ||
| Cash withdrawn | free | ||
| Monthly fee | free | ||
| Credit interest | |||
| Variable gross interest2/AER3 | 0.50% | ||
| Net interest4 | 0.40% | ||
| Debit interest | |||
| Standard authorised overdraft interest rate | 3.04% per quarter (12.73% p.a. variable EAR)5 | ||
| Unauthorised overdraft interest rate | 5.659% per quarter (24.63% p.a. variable EAR)5 | ||
(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. The Society reserves the right to vary the above charges for high volume accounts (over £250,000 credit turnover).
Minimum current account balance £1. Interest rates correct at 01/07/11.
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