Reserve account
The Reserve account is designed with the
sophisticated client in mind. It combines a wide range of
practical features, together with the option of multi-currency
dealings.
The minimum initial deposit is £5,000, US $7,500 or €7,500.
Easy access
The Reserve account is essentially an interest bearing
current account. For any of the world's three leading currencies
you have easy access to your money at any time, through the Visa
network allowing you to withdraw £2,000 daily in a bank or £1,000
at any Visa ATM. For personal account holders who hold an account
in sterling, there is a £250 cheque guarantee facility for use
within the British Isles, incorporated within the gold status Visa
card.
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.
Competitive interest rates
The Reserve account pays competitive 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 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.