Reserve Account for Businesses and Ltd Companies
Multi-Currency Business / Ltd Company Bank Account with Instant Access
We understand that the needs of your client's business or limited company drive their banking requirements. Our versatile Reserve Account offers instant access to company funds and is ideal for business clients that regularly set aside funds to meet future obligations, such as monthly payroll or the purchase of capital equipment.
What's more, the business Reserve Account is a multi-currency business bank account that is available in sterling, US dollar and/or euro; ideal for businesses or limited companies 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 business/company 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 business' bank account until the statement date. Where the Account balance is enough to receive interest, this allows the company funds to continue 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.