Reserve Account for Clubs and Associations
Multi-Currency Club and Association Account with Instant Access
We understand that your client's club or association needs drive their banking requirements. Our versatile Reserve Account offers instant access to club or association funds and is ideal for club or association clients that regularly set aside funds to meet future obligations.
What's more, the Reserve Account for Clubs and Associations is a multi-currency account available in sterling, US dollar and/or euro; ideal for businesses that receive payments in these currencies, allowing them to move money between Reserve Accounts without incurring any currency conversion charges, as long as the accounts are linked to each other under the same club or association name. See today's foreign exchange rates for transfers between accounts.
This Account permits up to 30 day-to-day transactions per statement month, without incurrring a transaction charge, this includes transactions on a Cater Allen VISA Deferred-Debit Card attached to the Account.
Any transactions made on a VISA Deferred-Debit card (excluding cash withdrawals) are not applied to the club or association's account until the statement date. Where the Account balance is enough to receive interest, this allows the club or association's funds to contine to earn interest on money that’s already been spent until the end of the month. The minimum opening deposit is £5,000 (or the US dollar or euro equivalent) per account, with a minimum balance of £5,000 to be maintained in each account.
Please see the Reserve Account Factsheet and Non-Personal Terms and Conditions for more information.
Interest rates are variable, please see current available interest rates.
How to apply
It is vital that every client, whether applying for a Cater Allen account directly with us or via a financial adviser or intermediary, fully understands the Account, the Interest Rates and the relevant Terms and Conditions before submitting the application.
Checklist
All clients must:
- Read and print or save all the below documents
- Visit the interest rates page relevant to the Account
- Complete, print and sign the application form
- Post the form to us along with all necessary ID
Each application will usually be processed within 10 days of us receiving it.
Please note, application forms posted to Cater Allen which are incorrect or incomplete will be automatically returned. If you need assistance when completing a form we are happy to help; please call us on 0800 092 3300 or contact your relationship manager.