High interest accumulation account
(Available to Isle of Man and Jersey office accountholders
only)
A high interest accumulation account is a high interest
bank account which pays the interest upon the closure of the
account. Whilst the interest is calculated and accrued on a
daily basis, the interest is only paid to the account on
closure*.
* The minimum balance must be maintained on the account if
interest is to accrue.
Account operation
Minimum deposit of £50,000, US$75,000 or €75,000.
Withdrawals can be made on demand and additional funds can be added
at any time with no minimum transaction amount. The account
and accumulated interest will be reported within your monthly
Focus report.
Competitive interest rates
The high interest accumulation account offers a competitive
interest rate which changes whenever our published
rates change. The actual rate applied is based upon the
sum deposited. Indicative interest rates are available to view
online.
Your tax position will depend on your personal circumstances and
you should always seek guidance from a professional tax adviser. It
is the responsibility of the depositor to declare any interest
received to their relevant tax authority.