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 high interest
accumulation account on closure*.
* The minimum balance must be maintained on the high interest
accumulation 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, subject to minimum balance
requirements, 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 upon
request.
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.