Reserve account
The Reserve account is designed with the
sophisticated client in mind. It combines a wide range of
practical private banking features, together with the option
of multi-currency dealings.
The minimum initial deposit is £5,000, US $7,500 or €7,500.
Easy access
With sterling, euros or US dollars you have easy access to
your money at any time, through the Visa network allowing you to
withdraw up to the equivalent of £2,000 in cash daily from a Visa
ATM, subject to any lesser local limits being imposed, or over
the counter where the Visa logo is displayed.
Sterling accounts can have standing orders and direct debits set
up within the British Isles. So, even if you are abroad, you can
rest assured all your regular bills will be paid promptly.
A choice of currencies
The Reserve account can be denominated in any major
currency. If you hold deposits in sterling, US dollars or
euro, you can take advantage of gold status Visa card facilities
and a chequebook for sterling payments only. Commission-free
foreign exchange dealing allows you to buy and sell in all major
currencies, with no minimum or maximum size of deal.
Interest rates
The Reserve account pays interest, calculated daily
and credited to the account on a quarterly basis. For Isle of Man
and Jersey accountholders only, this interest is paid gross*.
Our interest rates are
available to view online.
* Gross - the rate of interest paid without deduction of tax.
Please note that if you are an individual, resident within the EU,
your interest may be subject to a retention tax charge. A
flow chart is available for Isle of Man
accountholders and Jersey accountholders
to help you determine if you are affected or not and what you
need to do next. Important - you must declare any interest earned
to the income tax authorities in your country of residence.