Statement of Fees

Changes to personal current accounts

In order to meet new regulatory requirements and to make account fees and charges clearer, we've introduced new documents and detail for personal current accounts. This detail does not impact the services or fees and charges on your personal current account but makes it easier for you to compare common charges and fees across our personal current account range and those offered by other providers.

We've made things clearer by introducing a set of Standardised terms for some of the most common services that may incur a fee. We’ve also updated our terms and conditions, website and other communications to reflect these standardised terms. A new Glossary has been introduced to help you understand these terms. You’ll see the same terms used across all banks from 31 October 2018. 

To help you compare certain fees and charges for a specific account, we’ve introduced a Fee Information Document for each of our personal current accounts, including accounts that are no longer available to open. These show the fees and charges that are linked to the most common services, making it easier for you to choose the right account for you. 

We’ve introduced the new Statement of Fees, which will be provided to you annually. Your first Statement of Fees will be provided to you early next year in 2020, this will cover the period of 27 July 2018 to 26 July 2019. Going forward, you will receive your Statement of Fees annually by the end of August. It shows all the fees and charges you’ve incurred on your account for the previous 12 months, as well as any interest earned.

Reading your Statement of Fees 

Waived or reversed fees: If we’ve waived a fee before it’s been charged, you’ll be able to see it in ‘Number of times the fee was charged’ and ‘Total’. If we’ve refunded a fee after it’s been charged then you won’t see it in the Statement of Fees, but you can find it on your statement for your account. 

Overdrafts on the Statement of Fees:  We removed our overdraft service on 12 December 2019 however, your Statement of Fees may still include overdraft charges. For overdrafts the ‘Number of times the service was used’ shows on a daily basis and the ‘Number of times the fee was charged’ shows on a daily or monthly basis depending on the type of overdraft the charges relate to. The amount charged daily or monthly for an overdraft is detailed on your Statement of Fees. 

Euro and Dollar Account customers: Where a Unit fee is shown in pounds, but the fee is shown in euros/dollars, the exchange rate applied will be as at the date the fee was charged.

No fees or charges on your Statement of Fees: We have a legal obligation to send this document to you once a year, even if your account hasn't incurred any fees or charges.

Detail of interest earned on the account: This table details the interest earned at each rate on your account within the given period. If the same rate is listed more than once, this is because there was an interest change and your balance moved between rate tiers. The applicable interest rates are listed below:

Interest Rates from 27 July 2018 - 30 August 2018

Cash Hub Account for Personal Customers
Account Balance Gross % p.a.* AER %**
£2,500+ 0.50 0.50
Private Bank Account
Account Balance Gross % p.a.* AER %**
£500,000+ 0.50 0.50
£100,00+ 0.25 0.25
£5,000+ 0.00 0.00
Investment Account
Account Balance Gross % p.a.* AER %**
£500,000+ 0.15 0.15
£100,000+ 0.10 0.10
£5,000+ 0.00 0.00
Prestige Account
Account Balance Gross % p.a.* AER %**
£500,000+ 0.00 0.00
£100,000+ 0.10 0.10
£5,000+ 0.15 0.15
Grant Thornton Private Bank Account
Account Balance Gross % p.a.* AER %**
£0+ 0.50 0.50

Interest Rates from 31 August 2018 - 26 July 2019

Cash Hub Account for Personal Customers
Account Balance Gross % p.a.* AER %**
£2,500+ 0.75 0.75
Private Bank Account
Account Balance Gross % p.a.* AER %**
£500,000+ 0.50 0.50
£100,00+ 0.40 0.40
£0+ 0.25 0.25
Investment Account
Account Balance Gross % p.a.* AER %**
£500,000+ 0.40 0.40
£100,000+ 0.25 0.25
£5,000+ 0.00 0.00
Prestige Account
Account Balance Gross % p.a. (variable) AER % (variable)
£500,000+ 0.40 0.40
£100,000+ 0.25 0.25
£5,000+ 0.00 0.00
Grant Thornton Private Bank Account
Account Balance Gross % p.a.* AER %**
£0+ 0.75 0.75

Interest Rates from 27 July 2018 - 26 July 2019

Sterling Bank Account
Account Balance Gross % p.a.* AER %**
£5,000+ 0.00 0.00
Euro Bank Account
Account Balance Gross % p.a.* AER %**
€5,000+ 0.00 0.00
US dollar Bank Account
Account Balance Gross % p.a.* AER %**
$5,000+ 0.00 0.00
Business Expense Bank Account
Account Balance Gross % p.a.* AER %**
£0+ 0.00 0.00

* The gross rate is the interest rate we pay where no income tax has been deducted.
** AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year.

The introduction of the Standardised terms, Glossary and Fee Information Document, as well as the replacement of the Annual Summary with the Statement of Fees, will not result in any change to the fees or charges, or the way you manage your account.